Canadian Firm Vatic Ventures Secures Approval for Namibian Uranium Asset Acquisition

Canadian company Vatic Ventures Corporation has received approval to acquire rights to two exclusive prospecting licenses for uranium in Namibia's Erongo region, following a 13-month waiting period. The acquisition agreement with Velvet Clean Energy Corporation, signed in April and June 2025, was approved by the Canadian Venture Exchange. Vatic's president, Loren Currie, expressed satisfaction with the TSXV review process, stating the acquisition significantly enhances the company's asset portfolio and offers exposure to exploration opportunities. Currie highlighted the persistent gap between uranium supply and demand, predicting rising prices that will increase the value of their Namibian assets, particularly the Zoya and Galore properties. Vatic has the option to purchase an 80% interest in Zoya for N$18 million and in Galore for N$5.7 million over two years.

This deal signifies foreign investment in Namibia's natural resources, specifically uranium, with potential implications for the country's mining sector and global energy markets.