Nexus Uranium Announces Sale of Wray Mesa Project
Nexus Uranium (OTCQB:GIDMF / CSE:NEXU) entered a definitive agreement to sell its 100% interest in the Wray Mesa uranium project in San Juan County, Utah for US$105,000.
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Rhea-AI Summary
Nexus Uranium (OTCQB:GIDMF / CSE:NEXU) entered a definitive agreement to sell its 100% interest in the Wray Mesa uranium project in San Juan County, Utah for US$105,000.
The Wray Mesa package includes 46 unpatented mining claims in the Uravan Mineral Belt and remains subject to a 1.25% net returns royalty held by a third party. Closing is expected on or before December 31, 2025, subject to customary conditions and Canadian Securities Exchange approval.
The company said the sale delivers immediate, non-dilutive capital and lets management concentrate on advancing the Chord and Great Divide projects in South Dakota toward drilling.
Positive
- Immediate non-dilutive cash proceeds of US$105,000
- Divests a non-core Utah asset to sharpen focus on flagship projects
- Wray Mesa sale accelerates allocation toward Chord and Great Divide
Negative
- Wray Mesa proceeds are limited at US$105,000
- Property remains encumbered by a 1.25% net returns royalty
Details
News Market Reaction – GIDMF
On Dec 15, the day this news came out, GIDMF closed 1.85% above the previous close.
Data tracked by StockTitan Argus for the Dec 15 session.
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Vancouver, British Columbia--(Newsfile Corp. - December 15, 2025) - Nexus Uranium Corp. (CSE:NEXU) (OTCQB:GIDMF) (FSE:JA7) ("Nexus" or the "Company") announces it has entered into a definitive agreement to sell its
The Wray Mesa project consists of 46 unpatented mining claims located in the Uravan Mineral Belt. The sale provides Nexus with immediate, non-dilutive capital and allows the Company to concentrate its resources on advancing the Chord project in South Dakota, where it is working toward the commencement of drilling operations.
"This transaction delivers immediate, non-dilutive capital to our shareholders while allowing us to sharpen our focus on the Chord project in South Dakota, and our Great Divide project in South Dakota," said Jeremy Poirier, CEO of Nexus Uranium. "Rather than diverting resources across multiple jurisdictions, we are concentrating on our flagship assets as we advance toward drilling."
Transaction Details
Under the terms of the agreement, Nexus will receive US
Closing of the transaction is expected to occur on or before December 31, 2025 and is subject to customary closing conditions and applicable regulatory approvals, including approval of the Canadian Securities Exchange.
About Nexus Uranium Corp.
Nexus Uranium is a Canadian exploration company focused on uranium projects in North America. In the United States, the Company holds the Chord and Wolf Canyon projects in South Dakota, and the South Pass project in Wyoming. The Great Divide Basin project in Wyoming is now under option to Canamera Energy Metals Corp. In Canada, Nexus holds the Mann Lake project in Saskatchewan's Athabasca Basin. For more information, visit www.nexusuranium.com.
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FOR FURTHER INFORMATION PLEASE CONTACT:
Jeremy Poirier
Chief Executive Officer
info@nexusuranium.com
Forward-Looking Statements
This news release contains forward-looking information within the meaning of applicable Canadian securities legislation, including statements regarding the anticipated closing of the sale of the Wray Mesa project, receipt of purchase price proceeds, the Company's strategic focus on the Chord project, and planned exploration activities. Forward-looking information is based on assumptions considered reasonable by management as of the date hereof, including the satisfaction of closing conditions, receipt of regulatory approvals, and general business and economic conditions. Actual results may differ materially due to risks and uncertainties, including failure to satisfy closing conditions, delays in regulatory approvals, changes in market conditions, and other factors described in the Company's filings available on SEDAR+. Readers are cautioned not to place undue reliance on forward-looking information. Nexus undertakes no obligation to update forward-looking information except as required by law.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/277988
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