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.
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.
