SUBSEQUENT EVENT

6 Months Ended

Jan. 31, 2018

NOTE 17:

SUBSEQUENT EVENTS

Subsequent to January 31, 2018, we paid $256,389 in cash and issued 43,759 restricted shares and 119,546 shares under our 2017 Plan as settlement of certain severance obligations totaling $492,638 which were included in accounts payable and accrued liabilities on our consolidated balance sheet as at January 31, 2018.

Subsequent to January 31, 2018, we closed a definitive purchase agreement (the “Diabase Purchase Agreement”) with Nuinsco Resources Limited (“Nuinsco”), to acquire 100% of the Diabase project (the “Diabase Project”), which covers an area of 54,236 acres in ten claim blocks located on the southern rim of the Athabasca Basin uranium district in Saskatchewan, Canada (collectively, the “Diabase Acquisition”).

Pursuant to the Diabase Purchase Agreement, total consideration paid for the Diabase Acquisition consisted of $240,000 in cash and 164,767 restricted shares issued at a deemed price of $1.60 per share.

Concurrently with the closing of the Diabase Acquisition, URC was granted an exclusive right and option to acquire 100% of the royalty on the Diabase Project by paying $125,000 Canadian Dollars to the original royalty holder.