Crosshair Energy Corporation
Focused on exploring and developing uranium in the Central Mineral Belt of Labrador
Message: Commences Action Against Universal Uranium
| April 28, 2009 |
| Crosshair Commences Action Against Universal Uranium |
| VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 28, 2009) - Crosshair Exploration & Mining Corp. (TSX:CXX)(NYSE Alternext US:CXZ)(NYSE Amex:CXZ.A) ("Crosshair") announces that it has commenced an action in British Columbia Supreme Court against Universal Uranium Ltd. ("Universal") alleging that Universal had knowledge of trades that artificially inflated the market price of shares of Universal at the time that Crosshair agreed to purchase property and securities of Universal. The action relates to certain agreements (the "Agreements") Crosshair entered into with Universal to acquire all of Universal's interest in its project in the Central Mineral Belt of Labrador and to purchase securities of Universal by way of a private placement. Further details of the Agreements are disclosed in press releases of Crosshair dated May 23, 2008 and July 30, 2008. Further details of the action can be found in the Writ of Summons and Statement of Claim, which are available on Crosshair's website at: http://www.crosshairexploration.com/... . About Crosshair Crosshair is a dominant player in the exploration and development of uranium in the US and Canada. Its flagship Project, Bootheel, is located in uranium mining friendly Wyoming and with its in-situ mining potential, Bootheel is designed for near term production. The CMB Uranium Project is located in Labrador, Canada and has four currently defined resources - C Zone, Area 1, Armstrong and Two Time Zone. These assets fall outside of Labrador Inuit Lands and are therefore not directly impacted by the Nunatsiavut Government's decision in March 2008 to place a three year moratorium on uranium mining within their self-governed Labrador Inuit Lands. The Crosshair team is comprised of knowledgeable and experienced professionals with both exploration and mining backgrounds. For more information on Crosshair and its properties, please visit the website at www.crosshairexploration.com. ON BEHALF OF THE CROSSHAIR BOARD Mark J. Morabito, CEO |
Loading...
Loading...
New Message
Please
login
to post a reply