Markets

Ashburton Ventures Acquires Uranium Project; Shares Hike 13%

Ashburton Ventures Inc. (ABR.V) has entered into an agreement with an arms-length vendor by which the company can earn a 100% interest in the Bernick Lake Uranium Project, which covers approx. 1,800 ha on the eastern side of the Athabasca Basin, Saskatchewan.

The company can earn a 100% interest in the Bernick Property by paying $100,000 to the vendor in year one and issuing 1.4 million common shares over three years. The company must make a final payment in year three of $1 million and complete $3 million in exploration expenditures on the property within four years.

ABR has jumped 13% to $0.045, trading near 52-week low $0.035.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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