Valor Resources Ltd (ASX:VAL) (FRA:LFY) (OTCMKTS:VOYRF) has gained a substantial holder in Skyharbour Resources Ltd (OTCMKTS:SYHBF) (FRA:SC1P) (CVE:SYH)
Skyharbour has an 8.23% stake in Valor after accumulating more than 233.33 million direct shares and attained this status on February 11.
This investment increases the company's links with Canada in line with its recent uranium acquisition.
Canadian uranium acquisition
Valor recently completed the acquisition of Pitchblende Energy Pty Ltd, the holder of interests in two uranium projects in Saskatchewan, Canada.
This means the company has now acquired the Hook Lake and Cluff Lake uranium projects covering 861 square kilometres within the prolific uranium district of the Athabasca Basin.
The transaction was subject to various conditions precedent including shareholder approvals as detailed in the notice of annual general meeting lodged with the ASX on December 23, 2020.
Shareholders approved all the resolutions tabled at the annual general meeting including the resolutions to give effect to the transaction.