Uranium Energy Corp. (NYSE American: UEC) is pleased to announce that it has now closed its previously announced offering of 12,500,000 units of the Company, at a price of $1.20 per Unit, for gross proceeds of $15 million. Each Unit consists of one common share of the Company and one-half of one common share purchase warrant, and each Warrant entitles its holder to acquire one common share at an exercise price of $1.80 per Warrant Share exercisable immediately upon issuance and expiring 24 months from the closing of the Offering.
The net proceeds of the Offering will be used to fund exploration and development expenditures at the Company’s projects and for general corporate and working capital purposes.
H.C. Wainwright & Co., LLC and Haywood Securities Inc. acted as joint book-running managers in connection with the Offering and TD Securities Inc., Eight Capital and Roth Capital Partners, LLC acted as co-managers.
A “shelf” registration statement relating to the shares of common stock and warrants issued in the Offering was filed in both in the United States with the Securities and Exchange Commission (the “SEC”) and declared effective by the SEC on March 3, 2020 and in Canada.
A final prospectus supplement and accompanying prospectus describing the terms of the Offering was filed in both the United States and in Canada. Copies of the final prospectus supplements and the accompanying prospectus relating to the securities being offered may also be obtained from H.C. Wainwright & Co., LLC via email at email@example.com, and in Canada from Haywood Securities Inc. at firstname.lastname@example.org. Electronic copies of the final prospectus supplements and accompanying prospectus are also available on the SEC’s website at http://www.sec.gov or by visiting the Company’s profile on SEDAR at www.sedar.com.
This press release does not and shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities, nor shall there be any sale of the securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state or jurisdiction. The securities being offered have not been approved or disapproved by any regulatory authority, nor has any such authority passed upon the accuracy or adequacy of the prospectus supplement, the prospectus or the Company’s shelf registration statement.
About Uranium Energy Corp
Uranium Energy Corp is a U.S.-based uranium mining and exploration company. In South Texas, the Company’s hub-and-spoke operations are anchored by the fully-licensed Hobson Processing Facility which is central to the Palangana, Burke Hollow and Goliad ISR projects. In Wyoming, UEC controls the Reno Creek project, which is the largest permitted, pre-construction ISR uranium project in the U.S. Additionally, the Company controls a pipeline of uranium projects in Arizona, New Mexico and Paraguay, a uranium/vanadium project in Colorado and a large, high-grade ferro-titanium project in Paraguay. 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.
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We acknowledge the [financial] support of the Government of Canada.