NYSE American Symbol – UEC
CORPUS CHRISTI, Texas,
May 20, 2021 /PRNewswire/
- Uranium Energy Corp (NYSE American: UEC) (the "Company" or
"UEC") is pleased to report recent increases in its physical
and equity uranium holdings.
The Company has acquired an additional 200,000 pounds of U.S.
warehoused uranium. UEC's physical uranium initiative is
fully funded with cash on hand and now includes 2.305 million
pounds of U.S. warehoused uranium at a volume weighted average
price of ~$30 per pound with various
delivery dates out to June 2023.
The Company has also acquired an additional 1,000,000 common
shares of Uranium Royalty Corp ("URC") (TSXV: URC, Nasdaq:
UROY) in order to maintain its existing strategic ownership
position in URC. The Company completed the subscription under a
recent bought deal financing which was completed by URC comprised
of 6,100,000 common shares at a price of C$4.10 per share for gross proceeds of
C$25.0 million. Following this
closing, UEC now owns 15 million shares of URC at an average cost
base of C$1.09 per share.
Following the closing of the latest physical and equity
acquisitions by UEC, the Company now has over $115 million in cash, equity and inventory
holdings.
About Uranium Energy Corp
Uranium Energy Corp is a U.S.-based uranium mining and
exploration company. As a leading pure-play American uranium
company, UEC is advancing the next generation of low-cost and
environmentally friendly In-Situ Recovery (ISR) mining uranium
projects. In South Texas, the Company's hub-and-spoke
operations are anchored by our fully-licensed Hobson Processing
Facility which is central to our Palangana, Burke Hollow,
Goliad and other ISR pipeline
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's diversified holdings provide exposure to a unique
portfolio of uranium related assets, including: 1) major equity
stake in the only royalty company in the sector, Uranium Royalty
Corp; 2) physical uranium warehoused in the U.S.; and 3) a pipeline
of resource-stage uranium projects in Arizona, Colorado, New
Mexico and Paraguay. In
Paraguay, the Company owns one of
the largest and highest-grade ferro-titanium deposits in the world.
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.
Stock Exchange Information:
NYSE American: UEC
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, market and other conditions, 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, labor 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 news
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.
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SOURCE Uranium Energy Corp