The Canadian Company Bayswater Uranium Corporation (OTC: BYSWF) made a major announcement today that it has signed a Formal Purchase Agreement with Strathmore Resources and American Uranium Corporation to acquire 100% interest in the Reno Creek Uranium Project in Wyoming and its holding company AUC LLC.
Bayswater is an up-and-coming international and uranium exploration and development company which own several advanced uranium properties in the United States. Perhaps even more impressive is that Bayswater is the only uranium company to have major landholdings in each of Canada’s most important producing and exploration regions.
As for the execution of the agreement, the announcement falls on the heels of the October 5th, 2009 release that Bayswater had received a positive NI 43-101 compliant Pre-Feasibility Study (PFS) on the economic and technical feasibility of the Reno Creek Project which will allow the young company to aggressively pursue fundraising efforts.
Leading the way at Bayswater is George Leary who serves as the company President, CEO and Director. Leary was instrumental in getting the Reno Creek Project off of the ground and is a seasoned veteran in the field. Prior to coming to Bayswater, Leary spent 14 years with Amax Exploration Inc. in Vancouver, B.C. and during the latter part of his tenure was in charge of base metal exploration in the Canadian cordillera. He subsequently spent three and a half years with Union Oil of Canada in Calgary where he was responsible for base, precious and specialty metal exploration in Canada.
With Leary leading the way at Bayswater, the company has started to catch the attention of investors. Currently, the stock is trading in the $0.12 range but has soared off of its 52-week low and is constantly producing positive news.
Bayswater mailed an Information Circular to its shareholders on October 16, 2009 which describes the terms of the agreement and the Transaction and recommends that the Transaction be accepted at an extraordinary meeting of the Company to be held on November 16, 2009.
Bayswater is certainly a company investors should keep an eye on. For more information on the company and the Reno Creek Project, visit their web site at: www.bayswateruranium.com.