United Uranium, Karoo Exploration Enter Letter Of Intent

United Uranium Corp. (TSXV:UUC) announced it has entered into a letter of intent with Karoo Exploration Corp.  The parties have agreed to complete a business transaction wherein United will acquire the outstanding shares of Karoo.

As quoted in the press release:

The Transaction, when completed, will be considered to be a reverse take-over for the purposes of the TSX Venture Exchange (the “TSXV“) and will result in the listing of the Resulting Issuer as a Tier 2 Mining Issuer on the TSXV.

United’s President and CEO, Kyle Kozuska said:

The acquisition of Karoo Exploration Corp. by United Uranium Corp. will expose our shareholders to what we believe to be an asset with excellent growth potential.

Click here to read the United Uranium Corp. (TSXV:UUC) press release.