November 8th, 2023 – Kiplin Metals Inc. (the “Company” or “Kiplin”) (TSX-V: KIP, FWB: 17G1) announces that it has completed the acquisition (the “Acquisition”) of all of the outstanding share capital of Lloyd Lake Uranium Corp. (“LLU”). LLU is the holder of the Lloyd Lake Uranium Project located in Athabasca, Saskatchewan, subject to a royalty interest retained by the former shareholder of LLU (the “Vendor”). The Acquisition is intended to significantly broaden Kiplin’s portfolio of uranium projects and positions the Company for further growth in the uranium sector.
Pursuant to the terms of the Acquisition, Kiplin acquired LLU in consideration for the issuance of 4,500,000 common shares of Kiplin to the Vendor. Kiplin is at arms-length from the Vendor and LLU. No finders’ fees or commissions are payable by Kiplin in connection with the Acquisition.
The Company also announces that it will not proceed with any further tranches of its non-brokered private placement as previously announced on July 4, 2023, August 16, 2023 and August 24, 2023. To date the Company has issued a total of 1,250,000 units, at a price of $0.17 per unit, in connection with the private placement.
About Kiplin Metals Corp.
Kiplin Metals Inc. is a leading mining company specializing in the exploration, development, and production of precious and base metals. With a focus on sustainable and responsible mining, Kiplin is dedicated to delivering high-quality projects while maintaining the highest environmental and safety standards.
For further information, contact the Company at [email protected], or visit the Company’s website at www.kiplinmetals.com.
On behalf of the Board,
For further information, contact the Company at 604-622-1199.
On behalf of the Board of Directors,
“Peter Born”
Director
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This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.