Pinon Ridge Mining LLC acquired Homeland Uranium Inc.
In conjunction with the acquisition, Homeland Uranium has completed a private placement raising gross proceeds of $0.28 million. Homeland Uranium has also called a special meeting of its shareholders, scheduled to commence on December 15, 2014, to seek approval for the consolidation of its common shares on a 1 for 800 basis, and to formally change the company's name to "Western Uranium Corporation". On a post-consolidation basis, Homeland Uranium issued 0.12 million post-consolidation common shares at a price of $2.32 per share to the investors in the Private Placement, and 11 million post-consolidation common shares for the purchase of Pinon Ridge Mining at a price of $3 per share. Upon completion of the consolidation Homeland Uranium Inc had 11.4 million common shares outstanding.Homeland Uranium has applied to list its common shares on the Canadian Securities Exchange and its listing application has been accepted. Homeland Uranium shares will commence trading on the CSE under the symbol "WC.W" on November 24, 2014.
Pinon Ridge Mining LLC completed the acqusition of Homeland Uranium Inc. on November 6, 2014.