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Premier American Uranium Amends Terms of Promissory Note with Sachem Cove

TORONTO, Aug. 19, 2025 (GLOBE NEWSWIRE) -- Premier American Uranium Inc. ("PUR" or "Premier American Uranium" or the "Company") (TSXV:PUR, OTCQB:PAUIF) announces that it has amended (the "Amendment") the terms of its existing promissory note (the "Note") with Sachem Cove Special Opportunities Fund, LP (the "Lender").

Originally established in 2023 for up to US$1 million, the Note currently has an outstanding balance of approximately US$200,000. Under the Amendment, the Note provides for up to US$865,000 and continues to bear interest at a rate of 12% per annum, calculated daily. Interest is payable upon maturity of the Note, which is now the earlier of the closing of Premier's proposed acquisition of Nuclear Fuels Inc. and September 30, 2025.

The Company may draw down on the Note in increments of no less than US$100,000 on a weekly basis. A minimum of six months' interest will be payable regardless of the repayment date. All other terms of the Note remain substantially consistent with the original terms.

The additional principal under the Note is expected to be used exclusively to fund claim maintenance fees payable to the U.S. Bureau of Land Management and for other similar working capital purposes. The Amendment supports PUR's near-term capital needs as the Company continues to advance its uranium portfolio in the United States.

MI 61-101; Valuation and Minority Approval Exemptions

The Lender is an insider of the Company. As a result, pursuant to Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions ("MI 61-101"), the Amendment constitutes a "related party transaction" of PUR. PUR is relying on exemptions from the formal valuation and minority approval requirements of MI 61-101, specifically: (i) the valuation requirement of MI 61-101 by virtue of the exemption contained in Section 5.5(b), as the common shares of PUR are not listed on a market specified in MI 61-101, and (ii) the minority shareholder approval requirement of MI 61-101 by virtue of the exemption contained in Section 5.7(1)(a) of MI 61- 101, as the fair market value of the Amendment does not exceed 25% of the Company's market capitalization (as determined under MI 61-101).

The Amendment was approved by members of the Board of Directors if the Company who are independent for the purposes thereof, being all directors other than Mr. Tim Rotolo, the managing member of Sachem Cove Partners. Neither ...