Canadian Uranium Announces Definitive Agreement With Rook 2
Vancouver - Canadian Uranium Corp. (CSE: CANU) (the "Company") is pleased to announce that it has entered into an amalgamation agreement dated March 19, 2026 (the "Amalgamation Agreement") with Rook 2 Uranium Corp. ("Rook 2"), a private company, to acquire all of the issued and outstanding common shares of Rook 2 ("Rook 2 Shares") by way of a three-cornered amalgamation (the "Transaction"). Rook 2 holds the sole option to acquire a 100% interest (the "Option") in 21 mineral claims comprising an area of approximately 18,941 hectares (ha) in Saskatchewan (the "Property"). Transaction Details
The Transaction will be completed by way of a three-cornered amalgamation under the Business Corporations Act (British Columbia) among the Company, a wholly-owned subsidiary of the Company to be incorporated for the purposes of the Transaction ("Subco") and Rook 2. Pursuant to the terms of the Amalgamation Agreement, Rook 2 will amalgamate with Subco, and the holders of Rook 2 Shares will each receive one common share of the Company (a "Company Share") for every one Rook 2 Share held. It is expected that 9,663,156 Company Shares will be issued to the current shareholders of Rook 2 as consideration for all of the outstanding Rook 2 Shares pursuant to the Transaction. Upon closing of the Transaction, the amalgamated company will operate as a wholly-owned subsidiary of the Company.
No finder's fees will be paid in connection with the Transaction. The Company and Rook 2 are arm's length parties.
Completion of the Transaction is subject to a number of conditions customary of a transaction of this nature, including without limitation, the receipt of all necessary regulatory and Rook 2 shareholder approvals. There can be no guarantees that the Transaction will be completed as contemplated, or at all.
"As we look to the future, we're excited to build a world-class team and company from the strong foundation we've laid over the past three years. We've worked hard to secure what we believe are the best assets in the industry, and the Rook 2 asset is particularly exciting for us - starting from a historic resource in the prolific Athabasca Basin is a great advantage. We're also proud to honor our roots from the Titan Uranium days by bringing back familiar faces who've been contributors and had success in the Athabasca. Bottom line, something truly special is coming together, and we can't wait to show the world what's next." States Ed Marlow London based Director and seasoned Canadian Uranium veteran.
The Option
Rook 2 was granted the Option to acquire a 100% ownership in the Property pursuant to a property sale agreement dated November 12, 2025, between Rook 2 and the optionor. (the "Option Agreement"). To exercise the Option in accordance with the Option Agreement, Rook 2 must:
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(i)issue 1,000,000 Rook 2 Shares to the optionor, which Rook 2 completed on November 12, 2025; and
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(ii)pay the optionor an aggregate of $4,000,000 as follows:
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a.$300,000 within 15 days of signing the Option Agreement, which Rook 2 paid;
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b.$500,000 on or before October 31, 2026;
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c.$1,200,000 on or before October 31, 2027; and
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d.$2,000,000 on or before October 31, 2028; and
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(iii)incurring exploration expenditures on the Property as follows:
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a.$500,000 on or before November 12, 2026, of which Rook 2 has incurred $449,400 as of the date of the Amalgamation Agreement;
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b.$1,500,000 on or before November 12, 2027; and
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c.$2,000,000 on or before November 12, 2028.
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Investor Relations
?Canadian Uranium announces it has engaged Triomphe Holdings Ltd., doing business as Capital Analytica, an arm's-length service provider, to provide certain marketing and social media services to the company, in accordance with the policies of the CSE Securities Exchange and applicable securities laws. Based in Nanaimo, B.C., Capital Analytica specializes in marketing, social media and public awareness within the mining and metals sector. Capital Analytica will provide social media services, capital market consultation and social engagement reporting for an initial six-month term for a fee of $150,000 payable in two tranches, with an option to renew the agreement for an additional six months at a rate of $75,000 unless terminated earlier in accordance with the terms of the agreement. The Company has granted Capital Analytica incentive stock options to purchase ?150,000 common shares at an exercise price of $0.75 per share for a period of 3 years. The stock options will be subject to standard IR vesting provisions.
Pursuant to the terms of the Consulting Agreement, Capital Analytica will provide ongoing capital markets consultation, ongoing social media consultation regarding engagement and enhancement, social sentiment reporting, social engagement reporting, discussion forum monitoring and reporting, corporate video dissemination, and other related investor relations services.
About Canadian Uranium Corp.
Canadian Uranium Corp. is an emerging uranium exploration and development company focused on the prolific Athabasca Basin - the world's premier district for high-grade uranium deposits. The Company's strategy centers on assembling highly skilled technical teams with expertise in uranium geology, advanced geophysics, and northern exploration logistics. Through disciplined acquisitions, innovative exploration methodologies, and strategic partnerships, the Company aims to accelerate project advancement and unlock value across its exploration portfolio.
Contact Information:
Canadian Uranium Corp.
Geoff Balderson, Chief Financial Officer 604-602-0001
gb@corporateminds.ca
Forward-Looking Statements
This news release contains certain forward-looking statements that are "forward looking information" within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, including statements relating to, among other things, closing of the Transaction, receipt of all necessary consents, approvals, and authorizations, exercise of the Option, and the Company's strategy, plans or future operations, contain "forward-looking information". These forward-looking statements reflect the expectations or beliefs of management of the Company based on information currently available to it. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities (which may be viewed under the Company's profile at www.sedarplus.ca), which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
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