Completed two accretive acquisitions, realized profit from Physical Portfolio, and strengthened balance sheet:
Uranium Energy Corp (NYSE American: UEC) is pleased to report, in accordance with NYSE American requirements, the filing of the Company’s quarterly report on Form 10-Q for the quarter ended October 31, 2022 with the U.S. Securities and Exchange Commission. This Form 10-Q filing, which includes the Company’s interim condensed consolidated financial statements, related notes thereto and management’s discussion and analysis, is available for viewing on the SEC’s website at http://www.sec.gov/edgar.shtml or on the Company’s website at www.uraniumenergy.com.
Amir Adnani, CEO and President stated: “This most recent quarter validates UEC’s growth strategy and our strengths and unique abilities as a pure-play, 100% unhedged uranium supplier. Supported by our strong balance sheet and Physical Portfolio we are advancing a two-pronged approach, combining best in-class: 1) U.S. in-situ recovery (“ISR”) production anchored by two processing plants; and 2) Canadian high-grade conventional development pipeline. The Company’s North American warehoused Physical Portfolio is enabling opportunistic and profitable spot market sales and will be a reliable long-term source of supply.”
The UEX and Roughrider assets are primarily situated in the eastern Athabasca Basin of Saskatchewan, Canada. Highlights of the acquisitions include the following:
|1.||Cameco Corporation 2021 ESG Report, SaskPower System Map accessible at https://www.saskpower.com|
|2.||Subject to the completion of S-K 1300 technical report summary.|
|3.||World Nuclear Association – World Uranium Mining Production and Largest Producing Uranium Mines in 2021.|
The technical information in this news release has been reviewed by Christopher Hamel, P. Geo, Vice President Exploration Canada for the Company, being a Qualified Person under Item 1302 of Regulation S-K.
About Uranium Energy Corp
Uranium Energy Corp is the fastest growing supplier of the fuel for the green energy transition to a low carbon future. UEC is the largest, diversified North American focused uranium company, advancing the next generation of low-cost, environmentally friendly In-Situ Recovery mining uranium projects in the United States and high-grade conventional projects in Canada. The Company has two production-ready ISR hub and spoke platforms in South Texas and Wyoming. These two production platforms are anchored by fully operational central processing plants and served by seven U.S. ISR uranium projects with all their major permits in place. Additionally, the Company has diversified uranium holdings including: (1) one of the largest physical uranium portfolios of North American warehoused U3O8; (2) a major equity stake in Uranium Royalty Corp., the only royalty company in the sector; and (3) a Western Hemisphere pipeline of resource stage uranium projects. The Company’s operations are managed by professionals with decades of hands-on experience in the key facets of uranium exploration, development and mining.
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