Each one in plain English, with the numbers worked through for a shareholder.
1 Nov 2006asset acquisition disposition▼ Bad
This amended filing supplies the promised audited financial statements of UEM, the Argentine uranium exploration company acquired in June 2006. They show a net loss of $92,152 since its March 2005 start, total assets of $6,726 and a stockholders' deficit of $74,224 at March 31, 2006. The auditor raised substantial doubt about UEM's ability to continue as a going concern. The acquisition terms are repeated unchanged. The text provided is truncated, so the pro forma figures are not visible.
11 July 2006asset acquisition disposition● NeutralMajor
The company, now named Urex Energy Corp. (formerly Lakefield Ventures), completed the IMR Assignment Agreement on June 8, 2006, acquiring 99.8% of Argentine company United Energy Metals S.A. (UEM). UEM holds the Rio Chubut Property of 170,000 hectares next to the Cerro Solo uranium deposit (which the company has no interest in). The price was the 8,000,000 shares issued earlier plus $50,000 to IMR, with IMR keeping a 5% net smelter royalty. This completes the share issue in the previous filing and moves the company into uranium exploration. The filing says UEM financial statements will follow.
On June 8, 2006 the company (then called Lakefield Ventures Inc.) issued 8,000,000 shares to International Mineral Resources Ltd. (IMR) under an Assignment Agreement dated September 22, 2005. This adds 8,000,000 shares to the share count; the filing does not describe what the shares were for beyond the agreement, which is covered in the next filing.
