“Breaking News: CanAlaska Uranium & Core Nickel Complete Spin-Out Arrangement

CanAlaska Uranium Ltd. has recently announced the closure of the spin-out plan of arrangement with Core Nickel Corp. This plan was implemented in order to achieve the spin-out of CanAlaska’s wholly owned subsidiary, UEX Corporation. UEX Corporation is a leading uranium exploration and development company that holds an extensive portfolio of exploration prospects in the Athabasca Basin, in the province of Saskatchewan, Canada. Under the terms of the arrangement, CanAlaska issued to Core Nickel shares of UEX Corporation. These shares represent approximately 22 percent of the total outstanding shares. CanAlaska have also issued 8 million common share purchase warrants to Core Nickel. The warrants are exercisable at $0.12 per share for a period of 18 months. This strategic move is in line with CanAlaska’s goal of unlocking value and creating opportunities for shareholders, while maintaining operational focus. This transaction has allowed CanAlaska to better focus its business model and build a stronger base of value for shareholders. UEX Corporation was spun-out as a public company due to its dedicated uranium focus. Its corporate mission is to become a leading global uranium exploration and development company. As a result of this, UEX Corporation holds a portfolio of nine exploration projects in the highly prospective Athabasca region. UEX Corporation also has a number of strategic partnerships and joint ventures. The spin-out of UEX Corporation has created an opportunity for continously increasing value for shareholders. As a publicly traded uranium exploration and development company, UEX Corporation can better access financial markets and attract strategic alliances. Core Nickel’s investment in UEX Corporation will come with potential for strong returns as UEX progresses with their exploration projects in the Athabasca Basin. The closure of this spin-out plan of arrangement is an important milestone in achieving value for shareholders. With the new agreement, CanAlaska and Core Nickel have positioned UEX Corporation for future success in the uranium exploration and development industry.