DGAP-News: Uranium Energy Corp Completes $27.5 Million Financing
(firmenpresse) - Uranium Energy Corp. / Key word(s): Miscellaneous
27.10.2010 14:30
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Uranium Energy Corp.
NYSE Amex Equities Exchange Symbol - UEC
October 27, 2010
Uranium Energy Corp Completes $27.5 Million Financing
October 27, 2010; Corpus Christi, Texas - Uranium Energy Corp (the
'Company') (AMEX: UEC) announces that, effective after the close on October
26, 2010, it has completed its previously announced private placement
financing (the 'Financing') involving the sale of an aggregate of 8,111,313
units of the Company (each a 'Unit'), at a price of $3.40 per Unit, for
gross proceeds of $27,578,464.20.
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 $3.95 per Warrant Share for a 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, Amir Adnani, President 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 the United States Securities Act of 1933, as amended, and
may not be offered or sold in the United States absent 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 Hobson processing facility is central to all of its projects
in South Texas, including the fully-permitted Palangana in-situ recovery
project, and the Goliad in-situ recovery 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.
Contact North America: Investor Relations, Uranium Energy Corp:
Toll Free: (866) 748-1030
Fax: (361) 888-5041
E-mail: info(at)uraniumenergy.com
Stock Exchange Information:
NYSE-AMEX: UEC
Frankfurt Stock Exchange Symbol: U6Z
WKN: AØJDRR
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 United States and 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. 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 the United States absent
registration, or an applicable exemption from registration under the
Securities Act and applicable state securities laws.
27.10.2010 14:30 Dissemination of a Corporate News, transmitted by DGAP -
a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Media archive at www.dgap-medientreff.de and www.dgap.de
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Datum: 27.10.2010 - 14:30 Uhr
Sprache: Deutsch
News-ID 32422
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