Prosperity Exploration Corp. (CNSX:PROP) entered into a definitive agreement to acquire FirstAmerican Energy Fuels Ltd. for CAD 1 million on June 23, 2022. Pursuant to the terms of the Definitive Agreement, upon the date of closing of the Proposed Transaction, Prosperity will acquire 60% of the issued and outstanding securities of FirstAmerican Energy Fuels in consideration for the issuance of 8,000,000 common shares of the Company pro rata to shareholders of FirstAmerican Energy Fuels at a deemed price of CAD 0.08 per Payment Share. In addition, subject to approval of the Canadian Securities Exchange, the Company will issue 500,000 common shares to an arm's length third party finder in connection with the Proposed Transaction at a deemed price of CAD 0.08 per Finders' Share. The Payment Shares will not be subject to any hold periods under applicable securities laws. The Finders' Shares will be subject to a four month and one day hold period under applicable securities laws. Prosperity Exploration indirectly acquire an option held by FirstAmerican for the acquisition of a 100% interest (subject to a 2% NSR) in and to certain mineral claims located in Catron County, New Mexico. The Proposed Transaction remains subject to certain closing conditions including, without limitation, (a) the receipt by the Company of all necessary corporate and regulatory approvals, including the approval of the CSE, if applicable. The Proposed Transaction is anticipated to close on or before June 30, 2022.

Prosperity Exploration Corp. (CNSX:PROP) completed the acquisition of FirstAmerican Energy Fuels Ltd. for CAD 0.72 million on June 27, 2022. Prosperity Exploration Corp. 80.5 million common shares.