Vancouver, British Columbia – May 30, 2022 – Kraken Energy Corp. (CSE: UUSA) (OTCQB: UUSAF) (the “Company” or “Kraken”) is pleased to announce that, further to its news release dated May 25, 2022, it has completed the acquisition (the “Acquisition”) of all the issued and outstanding securities of Panerai Capital Corp. (“Panerai”) pursuant to the terms of a share exchange agreement dated May 24, 2022 (the “Definitive Agreement”) between the Company, Panerai and the shareholders of Panerai.
In connection with the Acquisition, the Company issued an aggregate of 11,709,666 common shares in the capital of the Company (the “Payment Shares”) pro rata to the Panerai shareholders at a deemed price of $1.09 per Payment Share. Panerai holds a 100% interest in 8,850 acres (3,580 hectares) of lode mining claims in Lander County, Nevada surrounding the past-producing Apex uranium mine. For additional details regarding the new land package acquired by the Company, see the Company’s news release dated May 25, 2022, available under the Company’s SEDAR profile at www.sedar.com. The Payment Shares are subject to certain voluntary hold periods.
About Kraken Energy Corp.
Kraken Energy is a new energy company advancing its 100-per-cent-owned Apex project, Nevada, recognized as Nevada’s largest past-producing uranium mine.
On Behalf of the Board of Kraken Energy Corp.
CEO & Director
Corporate Office: #717 – 1030 West Georgia Street, Vancouver, BC, Canada V6E 2Y3
For investor relations inquiries, contact:
Kristina Pillon, High Tide Consulting Corp.
T: 604.908.1695 / E: firstname.lastname@example.org