VANCOUVER, British Columbia, May 21, 2025 (GLOBE NEWSWIRE) -- Stallion Uranium Corp. (the "Company" or "Stallion") (TSX-V: STUD; OTCQB: STLNF; FSE: FE0) is pleased to provide shareholders with a general corporate update, including an update on its financial filings, corporate activities, and market positioning.
Financial Statement Filing Update:
Stallion announces that, further to its news release dated May 14, 2025, the filing of its annual financial statements, accompanying management discussion and analysis and certifications for the financial year ended December 31, 2024 (the "Annual Filings"), previously expected to be filed by May 20, 2025, is now expected to be filed by May 23, 2025. The delay is primarily due to extended timelines in completing the Company's annual audit, which has resulted in a Cease Trade Order ("CTO") issued by the British Columbia Securities Commission on May 7, 2025.
Stallion's management and audit team are diligently working to complete the audit process. The Company remains fully committed to refining its internal processes to ensure timely and accurate filings in the future. We deeply appreciate our shareholders' continued support and patience during this period.
Stallion is poised for strong forward momentum, with the resumption of trading anticipated shortly following the filing of financials. We look ahead to an exciting and productive corporate calendar, with several key initiatives and milestones expected to drive significant progress in the coming months.
The CTO was issued under Multilateral Instrument 11-103 - Failure-To-File Cease Trade Orders In Multiple Jurisdictions and prohibits the trading or purchase by any person or company of any securities of the Company in each jurisdiction in Canada in which the Company is a reporting issuer for as long as the CTO remains in effect; however, the CTO provides an exception for beneficial securityholders of the Company who are not currently (and who were not as of May 7th, 2025) insiders or control persons of the Company who may sell securities of the Company if both of the following criteria are met: (a) the sale is made through a foreign organized regulated market, as defined in Section 1.1 of the universal market integrity rules of the Investment Industry Regulatory Organization of Canada; and (b) the sale is made through an investment dealer registered in a jurisdiction of Canada in accordance with applicable securities legislation.
Debt Settlement and Share Issuance:
The Company also announces that it has reached a debt settlement agreement (the "Settlement Agreement") with Atha Energy Corp. ("Atha"), under which Stallion will issue shares to settle the outstanding obligation. This move strengthens our balance sheet and aligns with our strategy to build a financially resilient company while maintaining strong relationships with key stakeholders.
This agreement is in respect to certain obligations to incur exploration expenses under its previously announced option agreement dated July 18, 2023 (the "Option Agreement") whereby Atha granted an exclusive option to the Company to acquire a 70% undivided interest in and to certain property located in the southwest segment of the Athabasca Basin, in the Province of Saskatchewan.
Under the terms of the Settlement Agreement, Atha will be entitled to retain certain refunds from the Government of Saskatchewan that it inadvertently received on Stallion's behalf, and Stallion will issue 802,809 common shares of the Company (the "Shares") to Atha at a deemed price of $0.135 per Share.
The transactions described herein remain subject to the approval of the TSX Venture Exchange.
Community Engagement and Northern Participation:
As part of our commitment to sustainable development and responsible exploration, Stallion Uranium was proud to attend the KCDA Core Days Conference and Career Fair. This important event provided an opportunity to engage directly with northern communities, promote local employment, and build long-term partnerships.
Stallion is dedicated to stakeholder engagement and community consultation, and we will continue to prioritize northern participation as we advance our projects. These efforts reflect our core values of transparency, collaboration, and shared benefit.
Uranium Market Outlook:
The uranium market continues to show strong momentum, with spot prices climbing and sustained demand growth driven by global interest in nuclear energy as a clean, reliable power source. Stallion Uranium is well-positioned to capitalize on this positive market outlook, and we believe this macroeconomic backdrop significantly enhances the value of our strategic uranium assets.
About Stallion Uranium Corp.
Stallion Uranium is working to 'Fuel the Future with Uranium' through the exploration of roughly 2,700 sq/km in the Athabasca Basin, home to the largest high-grade uranium deposits in the world. The company, with JV partner Atha Energy holds the largest contiguous project in the Western Athabasca Basin adjacent to multiple high-grade discovery zones and deposits.
Our leadership and advisory teams are comprised of uranium and precious metals exploration experts with the capital markets experience and the technical talent for acquiring and exploring early-stage properties. For more information visit stallionuranium.com.
On Behalf of the Board of Stallion Uranium Corp.
Matthew Schwab
CEO and Director
Corporate Office:
700 - 838 West Hastings Street,
Vancouver, British Columbia,
V6C 0A6
T: 604-551-2360
info@stallionuranium.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation (collectively, "forward-looking statements") that relate to the Company's current expectations and views of future events. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as "will likely result", "are expected to", "expects", "will continue", "is anticipated", "anticipates", "believes", "estimated", "intends", "plans", "forecast", "projection", "strategy", "objective" and "outlook") are not historical facts and may be forward-looking statements and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this material change report should not be unduly relied upon. These statements speak only as of the date they are made.
Forward-looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond the Company's control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking statements. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for the Company to predict all of them or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. Any forward-looking statements contained in this presentation are expressly qualified in their entirety by this cautionary statement.
