TransactionsHomeland Uranium Inc. Gains Control of SolexPublished: 06/08/2010 On May 17, 2010, Homeland Uranium Inc. gained control of Solex Resources Corp. Homeland received 81.7 million (pre-consolidation) common shares of Solex, giving it a majority ownership stake. Homeland paid Solex $4 million in cash and approximately 7.6 million shares of Macusani Yellowcake Inc., representing a 12.7% interest. Homeland currently holds warrants entitling it to acquire a further 4.6 million Macusani Yellowcake shares. Solex also has the right to purchase any common shares acquired by Homeland if Homeland exercises the warrants. As part of the transaction, Solex Resources Corporation has been re-named Southern Andes Energy Inc (TSX VENTURE: SUR). Shares in Southern Andes Energy were consolidated on a 1:3 basis, with 53,659,709 total shares issued and outstanding. Cathy Mercer (Securities and Mining) and Jelena Novikov (Securities) of Cassels Brock acted for Homeland Uranium. |