Pinon Ridge Mining LLC acquired Homeland Uranium Inc. on November 6, 2014. Under the share exchange agreement, Homeland Uranium Inc. acquired all of the issued and outstanding securities of Pinon Ridge Mining for total consideration of $33 million paid in common shares of Homeland Uranium. Upon completion of the acquisition and private placement and prior to the listing of Homeland Uranium's shares on the Canadian stock exchange, the former members of the Board of Directors resigned and were replaced by George Glasier, Russell Fryer and Michael Skutezky. Stephen Coates also resigned at that time as President and Chief Executive Officer of Homeland Uranium and Glasier was appointed President and Chief Executive Officer of Homeland Uranium. Geoff Kritzinger continues to be Chief Financial Officer and Catherine Beckett continues as Corporate Secretary.

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.