LITTLETON, Colo., Sept. 21, 2018 /PRNewswire/ -- Ur-Energy
Inc. (NYSE American: URG) (TSX: URE) ("Ur-Energy") announced
today the pricing of its underwritten public offering of 12,195,122
common shares and accompanying warrants to purchase up to 6,097,561
common shares, at a combined public offering price of $0.82 per common share and accompanying warrant.
Each whole warrant will have an exercise price of $1.00 and will expire three years from the date
of issuance.
Ur-Energy has also granted the underwriters a 30-day option to
purchase up to 1,829,268 additional common shares and warrants to
purchase up to an aggregate of 914,634 common shares on the same
terms. The gross proceeds to Ur-Energy from this offering are
expected to be $10,000,000, before
deducting the underwriting discounts and commissions and other
estimated offering expenses payable by Ur-Energy, and assuming no
exercise of the underwriters' option to purchase additional shares
or warrants. The offering is expected to close on or about
September 25, 2018, subject to
satisfaction of customary closing conditions. All of the securities
in the offering are to be sold by Ur-Energy.
Cantor Fitzgerald & Co. is acting as the sole book-running
manager for the offering. H.C. Wainwright & Co., LLC is acting
as lead manager for the offering.
Ur-Energy anticipates using the net proceeds from the offering
to maintain and enhance operational readiness; additionally,
proceeds may be used for working capital and general corporate
purposes. The securities described above are being offered by
Ur-Energy pursuant to a shelf registration statement on Form S-3
previously filed with and declared effective by the Securities and
Exchange Commission (the "SEC") on August 3, 2017. A
preliminary prospectus supplement and the accompanying prospectus
relating to the securities being offered have been filed with the
SEC on September 20, 2018 and are
available on the SEC's website at http://www.sec.gov. Copies
of the final prospectus supplement (when available) and
accompanying prospectus may be obtained from Cantor Fitzgerald
& Co., Attention: Capital Markets, 499 Park Ave., 6th
Floor, New York, New York 10022, or by telephone at
212-829-7122, or by e-mail at prospectus@cantor.com.
This announcement is neither an offer to sell, nor a
solicitation of an offer to buy, any of these securities and shall
not constitute an offer, solicitation or sale in any state or
jurisdiction in which such offer, solicitation or sale is
unlawful. Offers will be made only by means of the prospectus
supplement and accompanying prospectus forming a part of the
effective registration statement.
About Ur-Energy:
Ur-Energy is a U.S. uranium mining company with corporate and
operations offices in Denver,
Colorado, and Casper,
Wyoming, respectively. Ur-Energy operates the Lost
Creek in-situ recovery uranium facility in south-central
Wyoming. Ur-Energy has produced,
packaged and shipped more than 2 million pounds from Lost Creek
since the commencement of operations. Applications are under review
by various agencies to incorporate Ur-Energy's LC East project area
into the Lost Creek permits, and the company has begun to submit
applications for permits and licenses to construct and operate its
Shirley Basin Project. Ur-Energy is engaged in uranium mining,
recovery and processing activities in the United States,
including the acquisition, exploration, development and operation
of uranium mineral properties. The primary trading market for
Ur-Energy's common shares is the NYSE American under the trading
symbol "URG;" Ur-Energy's common shares also trade on the Toronto
Stock Exchange under the trading symbol "URE."
Cautionary Note Regarding Forward-Looking
Statements:
This release may contain "forward-looking statements" within the
meaning of applicable securities laws regarding events or
conditions that may occur in the future (i.e., closing date of the
proposed offering and the use of proceeds from the offering) and
are based on current expectations that, while considered reasonable
by management at this time, inherently involve a number of
significant business, economic and competitive risks, uncertainties
and contingencies. Factors that could cause actual results to
differ materially from any forward-looking statements include, but
are not limited to, satisfaction of the conditions to closing of
the offering, delays in obtaining required stock exchange or other
regulatory approvals, commodity price volatility, the impact of
general business and economic conditions, as well as other factors
described in the public filings made by the Company at
www.sedar.com and www.sec.gov. Readers should not place undue
reliance on forward-looking statements. The forward-looking
statements contained herein are based on the beliefs, expectations
and opinions of management as of the date hereof and Ur-Energy
disclaims any intent or obligation to update them or revise them to
reflect any change in circumstances or in management's beliefs,
expectations or opinions that occur in the future.
For further information, please contact:
Jeffrey Klenda,
Chair and CEO
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720-981-4588
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Jeff.Klenda@Ur-Energy.com
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SOURCE Ur-Energy Inc.