Uranium Energy Corp Completes $27.5 Million Financing
NYSE Amex Equities Exchange Symbol – UEC
the “Company”) announces that, effective after the close on
2010
financing (the “Financing”) involving the sale of an aggregate of
8,111,313 units of the Company (each a “Unit”), at a price of
Unit, for gross proceeds of
Each Unit is comprised of one common share of common stock (each a “Unit
Share”) and one-half of one transferable common stock purchase warrant
(each a “Warrant”) of the Company, with each such whole Warrant being
exercisable for one additional common share of the Company (each a
“Warrant Share”) at an exercise price of
period of one year from closing.
The Company is required to use reasonable commercial efforts to file a
resale registration statement with the SEC within 21 days following the
closing of the Private Placement that covers the resale by the
purchasers of the Unit Shares and the Warrant Shares issuable upon
exercise of the Warrants.
Commenting on the completion of the Financing,
and CEO stated, “We are pleased to complete this financing. We have a
number of expansion and production opportunities to address. But first,
the Company’s focus is on achieving initial production at the Palangana
ISR project in the coming weeks.”
Rodman & Renshaw LLC, Haywood Securities Inc., together with a number of
other registered dealers, acted as non-exclusive placement agents for
the Company’s Financing.
The Unit Shares, the Warrants and the Warrant Shares have not been
registered under
registration or an applicable exemption from the registration
requirements.
About Uranium Energy Corp
Uranium Energy Corp is a U.S.-based exploration company with the
objective of near-term uranium production in the U.S. The Company’s
fully licensed and permitted
all of its projects in
Palangana in-situ recovery project, and the
project which is in the final stages of mine permitting for
production. The Company’s operations are managed by professionals with
a recognized profile for excellence in their industry, a profile based
on many decades of hands-on experience in the key facets of uranium
exploration, development and mining.
Stock Exchange Information:
NYSE-AMEX: UEC
Frankfurt Stock Exchange Symbol: U6Z
WKN: AOJDRR
ISN: US916896103
Safe Harbor Statement
Except for the statements of historical fact contained herein, the
information presented in this news release constitutes “forward-looking
statements” as such term is used in applicable
Canadian laws. These statements relate to analyses and other
information that are based on forecasts of future results, estimates of
amounts not yet determinable and assumptions of management. Any other
statements that express or involve discussions with respect to
predictions, expectations, beliefs, plans, projections, objectives,
assumptions or future events or performance (often, but not always,
using words or phrases such as “expects” or “does not expect”, “is
expected”, “anticipates” or “does not anticipate”, “plans, “estimates”
or “intends”, or stating that certain actions, events or results “may”,
“could”, “would”, “might” or “will” be taken, occur or be achieved) are
not statements of historical fact and should be viewed as
“forward-looking statements”. Such forward looking statements involve
known and unknown risks, uncertainties and other factors which may
cause the actual results, performance or achievements of the Company to
be materially different from any future results, performance or
achievements expressed or implied by such forward-looking statements.
Such risks and other factors include, among others, the actual results
of exploration activities, variations in the underlying assumptions
associated with the estimation or realization of mineral resources, the
availability of capital to fund programs and the resulting dilution
caused by the raising of capital through the sale of shares, accidents,
labour disputes and other risks of the mining industry including,
without limitation, those associated with the environment, delays in
obtaining governmental approvals, permits or financing or in the
completion of development or construction activities, title disputes or
claims limitations on insurance coverage. Although the Company has
attempted to identify important factors that could cause actual
actions, events or results to differ materially from those described in
forward-looking statements, there may be other factors that cause
actions, events or results not to be as anticipated, estimated or
intended. There can be no assurance that such statements will prove to
be accurate as actual results and future events could differ materially
from those anticipated in such statements. Accordingly, readers should
not place undue reliance on forward-looking statements contained in
this news release and in any document referred to in this news release.
Certain matters discussed in this news release and oral statements made
from time to time by representatives of the Company may constitute
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995 and the Federal securities laws. Although
the Company believes that the expectations reflected in such
forward-looking statements are based upon reasonable assumptions, it
can give no assurance that its expectations will be achieved.Â
Forward-looking information is subject to certain risks, trends and
uncertainties that could cause actual results to differ materially from
those projected. Many of these factors are beyond the Company’s ability
to control or predict. Important factors that may cause actual results
to differ materially and that could impact the Company and the
statements contained in this news release can be found in the Company’s
filings with the Securities and Exchange Commission. For
forward-looking statements in this new release, the Company claims the
protection of the safe harbor for forward-looking statements contained
in the Private Securities Litigation Reform Act of 1995. The Company
assumes no obligation to update or supplement any forward-looking
statements whether as a result of new information, future events or
otherwise. ‘This press release shall not constitute an offer to sell
or the solicitation of an offer to buy securities. The securities
offered and sold in the private placement Offering have not been
registered under the United States Securities Act of 1933, as amended
(the “Securities Act”), or any state securities laws, and may not be
offered or sold in
applicable exemption from registration under the Securities Act and
applicable state securities laws.
SOURCE Uranium Energy Corp