LITTLETON, Colo., Sept. 25, 2018 /PRNewswire/ -- Ur-Energy
Inc. (NYSE American: URG) (TSX: URE) ("Ur-Energy") announced
today the closing of its previously announced 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. The warrants will expire three
years from the date of issuance and will allow the holders to
purchase our common shares at an exercise price of $1.00 per common share. 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
underwriters have exercised a portion of their option to purchase
additional securities at closing, acquiring 867,756 additional
warrants to purchase an aggregate of 433,878 common shares.
Including the partial exercise of the option, Ur-Energy issued a
total of 12,195,122 common shares and 13,062,878 warrants to
purchase up to 6,531,439 common shares. The gross proceeds to
Ur-Energy from this offering were approximately $10.0 million, before deducting the underwriting
discounts and commissions and other estimated offering expenses
payable by Ur-Energy.
Cantor Fitzgerald & Co. acted as the sole book-running
manager for the offering. H.C. Wainwright & Co., LLC acted 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
prospectus supplement and the accompanying prospectus relating to
the securities being offered have been filed with the SEC and are
available on the SEC's website at http://www.sec.gov. Copies
of the final prospectus supplement 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 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., 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
+1 720-981-4588
Jeff.Klenda@Ur-Energy.com
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SOURCE Ur-Energy Inc.