DGAP-News: Uranium Energy Corp.: Uranium Energy Corp Announces Private Placement
(firmenpresse) - DGAP-News: Uranium Energy Corp. / Key word(s): Miscellaneous
Uranium Energy Corp.: Uranium Energy Corp Announces Private Placement
22.10.2010 / 15:05
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Uranium Energy Corp Announces Private Placement
October 22, 2010; Corpus Christi, Texas - Uranium Energy Corp. (the
'Company') (NYSE AMEX: UEC) announces that it has entered into definitive
agreements to sell units (each a 'Unit') of the Company by way of private
placement, with each Unit consisting of one common share of the Company's
common stock and one-half of one common stock share purchase warrant (each
a 'Warrant'), for aggregate gross proceeds of up to approximately
$27,528,467.20 (the 'Offering'). The closing of the Offering is subject to
the satisfaction of customary closing conditions.
Under the terms of the Offering the Company is expected to sell up to an
aggregate of 8,096,608 Units, at a price of $3.40 per Unit, so that the
purchasers will receive an aggregate of up to 8,096,608 shares of common
stock and receive Warrants to purchase up to an additional 4,048,304 shares
of common stock of the Company which are exercisable for a period of one
year from the date of closing and have an exercise price of $3.95 per
Warrant share.
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 Offering that covers the resale by the purchasers of the
shares and the shares issuable upon exercise of the Warrants.
Commenting on the Offering, Amir Adnani, President and CEO stated, 'With
the Company's initial production scheduled to start in Texas this quarter,
we are bolstering our treasury to maximize our financial flexibility and
improve our balance sheet. The bulk of these proceeds will be directed
toward anticipated start-up at the Goliad ISR project. In addition, the
South Texas Uranium Belt holds significant known resources that are
amenable to low-cost in-situ recovery, and the Company plans to use a
portion of proceeds to continue to build a strong and diversified pipeline
of advanced, development and exploration-stage properties for expanding
production there for many years.'
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.
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.
End of Corporate News
22.10.2010 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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101288 22.10.2010
Datum: 22.10.2010 - 15:06 Uhr
Sprache: Deutsch
News-ID 32394
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