CORPUS
CHRISTI, Texas, June 30,
2022 /CNW/ - Uranium Energy Corp (NYSE American:
UEC, the "Company" or "UEC") is pleased to provide an update on its
holdings of common shares of UEX Corporation ("UEX").
The Company has acquired 6,844,000 UEX common shares through the
facilities of the TSX at an average cost of C$0.3601 per UEX common share. When added
to the 11,627,907 UEX common shares acquired by private placement
on June 22, 2022 at a price of
C$0.43 per share (the "Private
Placement"), UEC now holds a total of 18,471,907 UEX common
shares (approximately 3.32% of the shares currently
outstanding).
On June 13, 2022, UEC announced
that it had entered into a definitive agreement with UEX pursuant
to which it is to acquire all of the issued and outstanding common
shares of UEX in an all-share transaction by way of statutory plan
of arrangement (the "Transaction"). The Private
Placement was completed in connection with the Transaction.
In announcing the closing of the Private Placement, UEC
announced its intention to acquire additional UEX common shares by
making purchases through the facilities of the TSX.
These additional UEX common shares are being held by UEC for
investment purposes and in furtherance of the Transaction.
UEC may, from to time, dependent on market or other conditions, and
subject to applicable securities laws, either increase or decrease
its beneficial ownership in the common shares of UEX. UEC
will continue to provide periodic updates in respect of any UEX
common share purchases made.
About Uranium Energy Corp
Uranium Energy Corp is America's leading, fastest growing,
uranium mining company listed on the NYSE American. UEC is a pure
play uranium company and is advancing the next generation of
low-cost, environmentally friendly ISR mining uranium projects. The
Company has two production ready ISR hub and spoke platforms in
South Texas and Wyoming, anchored by fully licensed and
operational processing capacity at the Hobson and Irigaray Processing Plants. UEC
also has seven U.S. ISR uranium projects with all of their major
permits in place. Additionally, the Company has other
diversified holdings of uranium assets, including: 1) one of the
largest physical uranium portfolios of U.S. warehoused U3O8; 2) a
major equity stake in the only royalty company in the sector,
Uranium Royalty Corp; and 3) a pipeline of resource-stage uranium
projects in Arizona, Colorado, New
Mexico and 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.
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