On October 21, 2021 Consolidated Uranium Inc. announced that, further to its press release on October 18, 2021 regarding the creation and planned spin-out of Labrador Uranium Inc. (“LUR”), LUR had entered into an agreement Red Cloud Securities Inc. to act as lead agent and sole bookrunner on behalf of a syndicate of agents (collectively, the “Agents”) in connection with a fully marketed private placement (the “LUR Offering”) of up to 10,000,000 subscription receipts of LUR (each, a “Subscription Receipt”) at a price of C$0.70 per Subscription Receipt (the “Offering Price”) for gross proceeds of up to C$7,000,000. The Agent will have an option, exercisable in full or in part up to 48 hours prior to the closing of the LUR Offering, to sell up to an additional 1,428,571 Subscription Receipts at the Offering Price for additional gross proceeds of up to C$1,000,000.

Consolidated Uranium Inc. was created in early 2020 to capitalize on an anticipated uranium market resurgence using the proven model of diversified project consolidation.