Corpus Christi TX, January 17, 2017 – Uranium Energy Corp. (NYSE MKT: UEC; “UEC” or the “Company”) is pleased to announce, that, that due to increased demand, the underwriters have agreed to purchase 17,330,836 units of the Company (the “Units”) at a price of $1.50 per Unit, with each Unit consisting of one common share of the Company (each, a “Share”) and one-half of one common share purchase warrant (each whole warrant, a “Warrant”) for gross proceeds of approximately $26 million (the “Offering”). Each Warrant will entitle its holder to acquire one common share (each, a “Warrant Share”) at an exercise price of $2.00 per Warrant Share and exercisable six months following the closing of the Offering and expiring on the third anniversary following the closing of the Offering.
The Company anticipates that 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.
Amir Adnani, President and CEO, stated: “The Company received very strong demand both from long-term existing shareholders as well as from new participants. This performance is not only a testament to the quality of the Company’s assets, but also to the resurgent interest in the uranium sector in 2017 driven by production cutbacks and strong global nuclear energy growth. We would like to thank our existing shareholders for their support and welcome the many new investors to UEC.”
The closing of the Offering is expected to occur on January 20, 2017, subject to customary closing conditions.
Rodman & Renshaw, a unit of H.C. Wainwright & Co., LLC, and Haywood Securities Inc. are acting as joint book-running managers in connection with the Offering and Dundee Capital Partners and Sprott Private Wealth LP are acting as co-managers.
A “shelf” registration statement relating to the shares of common stock and warrants to be 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 January 10, 2014 and in Canada. This press release does not constitute an offer to sell, or the solicitation of an offer to buy, these securities, nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale is not permitted.
A final prospectus supplement and accompanying prospectus describing the terms of the proposed Offering will be 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 Rodman & Renshaw, a unit of H.C. Wainwright & Co., via email at [email protected], and in Canada from Haywood Securities Inc. at [email protected]. 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.
About Uranium Energy Corp
Uranium Energy Corp, is a U.S.-based uranium mining and exploration company. The Company’s fully-licensed Hobson processing facility is central to all of its projects in South Texas, including the Palangana ISR mine, the permitted Goliad ISR project and the development-stage Burke Hollow ISR project. Additionally, the Company controls a pipeline of advanced-stage projects in Arizona, Colorado and 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.
Amir Adnani | President & CEO