Vatic Acquires Highly Prospective Uranium Assets Contiguous with the Rossing and Husab Mines of Namibia, Southern Africa

Core Viewpoint - Vatic Ventures Corp. has entered into a share purchase agreement to acquire 100% of a private company that holds rights to acquire significant uranium properties in Namibia, which are strategically located adjacent to major uranium mines, Rössing and Husab, indicating a strong potential for future uranium production and value appreciation in the context of increasing global demand for uranium [1][9]. Group 1: Acquisition Details - The acquisition involves two uranium properties: EPL 8289 (ZOYA Property) covering 44.62 km² with the potential to acquire up to 80% interest, and EPL 8735 (GALORE Property) covering 87.65 km² with the potential to acquire up to 90% interest [1][2]. - Velvet Clean Energy Corp. is the private company involved in the acquisition, which has signed definitive agreements for both properties, with the ZOYA Property adjacent to the Husab mine and the GALORE Property located near the Rossing mine [2][3]. Group 2: Industry Context - Namibia is the world's 4th largest producer of uranium, contributing approximately 6% of global output, with the Erongo Region having produced over 350 million pounds of U3O8 over the past 48 years [3][4]. - The properties are situated in the "Alaskite Alley," a geological corridor known for high-grade uranium deposits, enhancing their potential for significant mineralization [3][4]. Group 3: Market Outlook - The CEO of Vatic highlighted a persistent gap between uranium supply and demand, which is expected to widen due to a decade of low prices and increasing governmental interest in nuclear power as a clean energy source, suggesting a bullish outlook for uranium prices [9]. - The strategic location of the acquired properties in a top mining jurisdiction with a strong production record positions Vatic favorably for future exploration and development [9]. Group 4: Financial Terms - The acquisition will involve issuing 7,500,000 common shares of Vatic at a deemed price of $0.06 per share to the shareholders of Velvet, subject to TSX Venture Exchange approval [10][11]. - The financial terms for acquiring interests in the ZOYA and GALORE properties include various cash payments and share issuances, with minimum expenditure obligations set at$3 million over four years for the ZOYA Property [14][15]. Group 5: Corporate Changes - Vatic plans to change its name to Ballistic Energy Metals Corp. and consolidate its shares on a 3-for-1 basis, reducing the number of outstanding shares from approximately 41.35 million to about 13.78 million post-consolidation [16][17]. - The consolidation is aimed at positioning the company for future corporate development opportunities and financing transactions [16].