Uranium Resources, Inc. Announces the Completion of a Private Placement of 24,000,000 Common Shares at $0.50 Per Share Resulting in Gross Proceeds of $12 Million
Posted on: Friday, 12 August 2005, 18:00 CDT
Uranium Resources, Inc. (OTCBB:URIX) announced today that it closed a private placement of 24,000,000 shares of its common stock at $0.50 per share to accredited investors resulting in gross proceeds of $12 million before expenses of the offering. The Company plans to use the proceeds of the offering for its South Texas mining operations. The Company will file a registration statement under the Securities Act of 1933, as amended, to register the resale of the shares. Rice, Voelker LLC was the placement agent in connection with the offering.
This press release contains "forward-looking statements." These include, without limitation, statements relating to future mining plans, production and other such matters. The words "expect,""anticipate,""estimate," or "plan" and similar expressions identify forward-looking statements. Such statements are based on certain assumptions and analyses made by the Company in light of its experience and its perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. The Company does not undertake to update, revise or correct any of the forward-looking information. Factors that could cause actual results to differ materially from the Company's expectations expressed in the forward-looking statements include, but are not limited to, the following: industry conditions; volatility of uranium prices; operational risks; potential liabilities, delays and associated costs imposed by government regulation (including environmental regulation); inability to raise the funds for the substantial capital expenditures required to fund operations; and risks related to exploration and developmental drilling. For a more complete explanation of these various factors, see "Cautionary Statements" included in the Company's latest Annual Report on Form 10-KSB filed with the Securities and Exchange Commission.
Uranium Resources, Inc. is a Dallas area based uranium-mining company whose shares are quoted on the OTC Bulletin Board under the symbol URIX. The Company specializes in in-situ solution mining and holds mineralized uranium materials in South Texas and New Mexico.
Source: Business Wire
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