Tournigan Energy Ltd. (TSXV:TVC,FWB:TGP) announced upcoming transactions revealing an alliance with Areva (EPA:AREVA).
As quoted in the press release:
- Tournigan to undertake an exclusive private placement of 14,285,714 units with AREVA for proceeds of $1,000,000;
- Tournigan to acquire all of Mawson Resources Ltd.’s (MAW: TSX) right, title and interest in and to 7 uranium exploration projects located in Sweden and Finland for aggregate consideration of 53,639,848 common shares of Tournigan; and
- Tournigan to change its name to European Uranium Resources Ltd. and to complete a consolidation of its shares on a 1 new for 5 old basis.