What’s the deal?
In March 2026, Subatomic — through its subsidiary Subatomic Red Basin, LLC — agreed to acquire the entirety of the Red Basin Uranium Project in New Mexico from Myriad Uranium (CSE: M) for US$2.5 million, payable on closing. The asset purchase agreement was executed on 17 March 2026, with closing expected on or before 17 April 2026.
The terms.
Myriad retains a 10% free carried interest in the project, and the two companies have formed a strategic alliance to jointly explore and develop other projects beyond Red Basin. The Red Basin project hosts near-surface uranium mineralisation with expansion potential.
Who’s behind Subatomic?
Subatomic Industries Corporation is backed by 8VC and Overmatch Ventures, and is led by co-founder and CEO Timothy Chilleri, a veteran uranium analyst formerly of Sachem Cove Partners. The company pairs technical mining expertise with a technology-forward, capital-efficient approach aimed at rebuilding American uranium production.
