Myriad Uranium Corp Stock Price, News & Analysis

Myriad Uranium (OTCQB: MYRUF) has expanded its previously announced non-brokered private placement from $125,000 to $550,000. The company will issue up to 2.2 million units at $0.25 per unit, with each unit consisting of one common share and a half warrant. Each full warrant allows purchasing one share at $0.35 within 24 months.

Three board members, including CEO Thomas Lamb, Tom Lee, and Simon Clarke, will participate in the financing. The proceeds will be used for general working capital as the company advances its Copper Mountain and Red Basin projects. The securities will be subject to a four-month hold period, and the company expects to pay finder's fees.

Myriad Uranium (OTCQB:MYRUF) has announced a follow-on non-brokered private placement financing to accommodate a key institutional investor. The company will issue 500,000 units at $0.25 per unit for gross proceeds of $125,000.

Each unit consists of one common share and one-half of one common share purchase warrant. Each full warrant allows the purchase of one share at $0.35 for 24 months from issuance. The securities will have a four-month hold period, and proceeds will be used for general working capital.

Myriad Uranium Corp. (OTCQB: MYRUF) and Rush Rare Metals Corp. (CSE: RSH) have announced a proposed merger through a statutory plan of arrangement. Under the deal, Myriad will acquire 100% of Rush's shares at an exchange ratio of 1 Myriad share for every 2 Rush shares.

The merger follows Myriad's successful acquisition of a 50% interest in the Copper Mountain Project in Wyoming, with progress toward acquiring an additional 25% interest through $4,000,000 in exploration expenditures. Rush shareholders will also receive shares in a new spinoff company (Rush Spinco) that will hold Rush's Boxi Property in Quebec.

Both companies believe that 100% unified ownership of the Copper Mountain Property will enhance its market value and attract institutional and strategic investors. The transaction is subject to various approvals, including Rush shareholders, British Columbia Supreme Court, and the Canadian Securities Exchange.

Myriad Uranium Corp. (OTCQB: MYRUF) has entered into three strategic investor relations service agreements totaling approximately C$104,100 over the next year. The company has partnered with Departures Capital Inc. (US$25,000), SOMA Public Relations (C$30,000), and HoldCo Markets Advisory Inc. (C$39,600) for various IR and communication services.

CEO Thomas Lamb highlighted that the company's Copper Mountain Uranium Project in Wyoming, supported by over 2,000 historical boreholes and C$117 million in historic exploration, may contain significantly higher uranium grades than previously reported. Recent chemical assays have revealed potentially significant mineralization in zones previously considered below cutoff. The company is conducting approximately 1,500 additional assays to evaluate the project's expanded potential.

The company cautions that historical estimates should not be unduly relied upon as current mineral resources or reserves, as they require verification through additional data digitization and drilling programs.

Myriad Uranium (OTCQB: MYRUF) has successfully closed an over-subscribed private placement financing, raising $1.89 million through the issuance of 7.57 million units at $0.25 per unit. Each unit includes one common share and a half-warrant exercisable at $0.35 until July 2027.

The company's working capital now stands at approximately $3.2 million. The funds will support exploration of Myriad's mineral properties and general working capital. Notably, recent chemical assays at the Copper Mountain project have revealed significant "new" uranium deposits that were previously undetectable by gamma probes. The company is analyzing nearly 1,500 additional samples from 2024 drilling.

The company has also filed a plan to increase permitted boreholes at Copper Mountain from 50 to 70. Securities issued under the financing are subject to a four-month hold period until November 11, 2025.

Myriad Uranium Corp. (MYRUF) has announced a non-brokered private placement to raise up to $1.5 million through the issuance of 6 million units priced at $0.25 per unit. Each unit comprises one common share and half of a share purchase warrant. Each whole warrant allows the purchase of one additional share at $0.35, valid for 24 months from issuance. The securities will have a four-month hold period under Canadian securities laws. The company plans to use the proceeds for mineral property exploration and general working capital. Finder's fees may be paid, and company insiders may participate in the offering.

Myriad Uranium reports final chemical assay results from 34 holes drilled at Copper Mountain Uranium Project in Wyoming, showing significantly higher U3O8 grades compared to previous gamma probe readings. Chemical assays revealed grades up to 60% higher at 1,000 ppm cut-off, 50% higher at 500 ppm, and 20% higher at 200 ppm than equivalent probe grades. Notable findings include confirmation of extensive high-grade uranium at the Canning Deposit, with results supporting the upper range of Union Pacific's historical estimate of 15-30 million pounds U3O8. Deep intercepts suggest potential for additional mineralization, with the deepest intercept at 1,489 feet returning 832.5 ppm U3O8. The company's findings support internal documents suggesting potential for several hundred million pounds of uranium at the project.

Myriad Uranium Corp. (OTCQB: MYRUF) has announced the extension of 884,668 warrants that were originally issued on June 1, 2023. The warrants' expiration date will be extended by 12 months from June 1, 2025 to June 1, 2026. The warrants remain exercisable at $0.35 per share.

Of the total warrants, 50,000 are held by a company director, making this extension a related party transaction. However, this transaction is exempt from formal valuation and minority shareholder approval requirements under MI 61-101 as it falls below the 25% market capitalization threshold.

Myriad Uranium Corp (OTCQB: MYRUF) has significantly expanded its Red Basin Uranium Project in New Mexico by staking 77 new claims, nearly doubling its acreage from 1,753 to 3,324 acres. The company now controls the majority of historical drilling sites (over 1,050 holes) and all identified historical uranium resources in the district. Historical estimates indicate 0.5 Mlbs Indicated and 1.5-6.5 Mlbs Inferred uranium resources, with grades ranging from 0.17% to 0.31% U3O8 and up to 1.64% V2O5.

The mineralization is contained in roll-front deposits within permeable sandstones, extending from surface to depths under 450 feet. The broader Datil Mountains-Pietown area is estimated to contain 30-45 Mlbs of uranium mineralization, potentially suitable for in-situ recovery. The company is leveraging expertise from advisors with direct experience in the 1970s and 1980s drilling programs.