NX Uranium Signs LOI to Purchase State Mineral Lease
ACCESSWIRE - Tue Feb 10, 7:16AM CST
BATON ROUGE, LA / ACCESSWIRE / February 10, 2015 / NX Uranium, Inc. (OTC: NXUR) (PINKSHEETS: NXUR), announced today the Company has executed a Letter of Intent to purchase Section 16, a Utah State Mineral Lease encompassing 489 acres located in South East Utah, in the San Rafael Mining District. The Company has until April 31, 2015 to complete its due diligence and review of historical data and mining estimates. Subsequent to completing the due diligence process, the Company will execute a formal Purchase Agreement and pay a deposit of $5,000 and issue 100,000 shares of the company's common stock. Subject to due diligence, the transaction will close on or before July 31, 2015 whereby the Company agrees to pay an additional $45,000 and issue 140,000 shares of the company's common stock. The lease is being purchased from Kelly Dearth in a Related Party transaction, who is the Company's COO, and Treasurer and Secretary on the Board.