Sassy Gold Corp. (CNSX:SASY) signed letter of intent to acquire advanced uranium properties in Utah and Colorado, USA on February 16, 2024. As a part of related transaction, Sassy Gold Corp.

signed two letter of intent to acquire advanced uranium properties in Utah and Colorado, USA. As a part of consideration for three letter of intent, Sassy Gold Corp. will pay $2.09 million paid in cash over four equal payments of $0.52 million on closing of the Transaction, and on the 6-month, 12-month and 24-month anniversaries of the closing of the Transaction and will issue shares worth $6.29 million and the value and number of the Shares will be determined by the price of the financing completed immediately prior to the closing of the Transaction and based on the prevailing CAD/USD exchange at that time.

The Vendors maintain a 1% gross royalty on most of the properties, with exclusions for two state leases which are already subject to state royalties, and the "BM Claims" within the Independence Property, which are already subject to two 1.5% Net Smelter Royalties payable to a third, unrelated party. Additionally, each LOI includes a provision which will pay a maximum of one "PEA Bonus" per LOI, in the amount of $0.1 million cash and 1 million Company shares, upon the Company publishing a positive Preliminary Economic Assessment (PEA) for any property covered by that LOI. The transaction was subject to shareholders approval if the number of shares issued may be more than 50% of the total number of securities or votes of the listed issuer outstanding accompanied by a new Control Person 100% of the total number of securities or votes outstanding.