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Slide #46. Powertech Uranium Corp. — Azarga Resources Limited
Powertech Uranium Corp. (PWE.CA)
Azarga Resources Limited
Powertech Uranium Corp. ("Powertech" or the "Company") (TSX:PWE)(FRANKFURT:PSA) and Azarga Resources Limited ("Azarga") are pleased to announce that they have entered into a share purchase agreement (the "Share Purchase Agreement") pursuant to which Powertech will acquire all of the issued and outstanding common shares of Azarga in exchange for common shares of Powertech (the "Transaction"). Azarga currently owns 68,991,571 common shares of Powertech ("Powertech Shares"), representing approximately 45% of the issued and outstanding Powertech Shares.
Powertech Uranium is engaged in the the acquisition, exploration and development of uranium properties located in South Dakota, Wyoming and Colorado, the United States. Co. is in the process of evaluating its properties and has not yet determined whether these properties contain reserves that are economically recoverable.
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