Board of Directors of CAT Strategic Metals Corporation agreed to Spin-Off South Preston Uranium Project, located in Athabasca Basin on June 6, 2023. On the record date, every shareholder who owns CAT stock will receive free shares of newly formed company on 1 for 1 basis. Transaction is approved by Board of directors of CAT.

Transaction is expected to close by the end of the third quarter of 2023.