Karam Minerals to acquire Hathor Exploration

Karam Minerals Inc. [KMI-CSE] signed a share exchange agreement dated September 20, 2021, among the company, Hathor Exploration Ltd. and the security holders of Hathor to acquire all of the issued and outstanding securities of Hathor.

Hathor is a privately-held uranium company with strategic claims in the heart of the Athabasca Basin in proximity to industry leading Uranium discoveries. Hathor is the beneficial owner of multiple mineral properties located in Saskatchewan. The Saskatchewan Project includes 18 mineral claims totaling 51,805 hectares.

In consideration for the transaction and pursuant to the terms of the definitive agreement, and on closing Karam will issue an aggregate of 2,200,000 common shares at a deemed price of $0.20 per share pro rata to the holders of Hathor common shares. The payment shares will be subject to escrow conditions and/or resale restrictions as required by applicable securities laws and the policies of the Canadian Securities Exchange (CSE).

Closing of the transaction remains subject regulatory approval. Closing of the transaction is expected to occur on or about September 30, 2021.

Karam also announced a non-brokered private placement of up to 15,000,000 units at a price of $0.20 per unit for gross proceeds of up to $3,000,000 (the offering). Each unit will consist of one common share of the company and one-half of one common share purchase warrant. Each whole w is good to buy one common share at a price of $0.40 for two years from the closing of the offering.