July 9, 2018

VANCOUVER, CANADA – GoviEx Uranium Inc. (TSX-V: GXU; OTCQB: GVXXF) (“GoviEx”
or “Company”) today announced the conclusion of a Termination Agreement and Mutual
Release (the “Termination Agreement”) with Toshiba Corporation (“Toshiba”), following
the completion of the share purchase agreement (“SPA”) between Toshiba and Linkwood
Holdings Pte Ltd. (“Linkwood”), a condition to concluding the Termination Agreement.
Linkwood is the general partner of the Medea Mining Fund (“Medea”).
The Termination Agreement sets out the terms under which GoviEx and Toshiba
(collectively, the “Parties”) agreed to settle the Tranche B Bond dated April 18, 2012, as
amended (the “Uranium Loan”); terminate the Sale and Purchase of Uranium Concentrates
Agreement dated April 18, 2012, as amended; and provide their mutual release to each
other in accordance with the terms and conditions of the Termination Agreement.
“One of GoviEx’s primary objectives is to position the Company for an improvement in the
uranium market. The completion of the Termination Agreement, which settles the Uranium
Loan from Toshiba, has been a key component of that strategy, and this process is now
complete,” commented Govind Friedland, Executive Chairman. “We thank Toshiba for
their support over the past six years and welcome our new strategic shareholder, Linkwood,
who together with Toshiba and GoviEx, came together to conclude this mutually beneficial
transaction.”

 

Please read the complete press release at the following link: LINK