CORPUS
CHRISTI, Texas, Dec. 20,
2022 /PRNewswire/ - Uranium Energy
Corp (NYSE American: UEC) (the "Company" or
"UEC") is pleased to announce it has won a $17.85 million award to supply 300,000 pounds of
U.S. origin uranium concentrates at $59.50/lb. to the U.S. Department of Energy
("DOE") - National Nuclear Security Administration ("NNSA"). The
award is in response to the NNSA's Request for Proposals ("RFP") to
establish its strategic national Uranium Reserve program.
The Uranium Reserve was originally designed as a 10-year,
$1.5 billion, plan to help revitalize
the domestic uranium and conversion industry. The award under the
RFP is part of the initial $75
million authorized by Congress in 2020 to advance the U.S.
Government's goal of supporting America's nuclear fuel supply chain
and capabilities. The delivery will be made by book transfer to
NNSA in the first quarter of 2023 with U.S. origin uranium
currently held in the accounts of UEC.
Amir Adnani, President and CEO
stated: "We are honored and delighted to be selected as a domestic
producer for this purchase of uranium concentrates by the NNSA and
look forward to the further expansion of the Uranium Reserve
program in the coming years. The U.S. nuclear reactor fleet that
provides about 20% of America's electricity production, and over
half of its clean energy, imports nearly 60% of its current uranium
requirements from Russia,
Kazakhstan and Uzbekistan. The U.S. overdependence on these
imports creates untenable energy and national security risks that
need immediate high-priority attention from industry and the
federal government."
UEC Chairman and former U.S. Energy Secretary, Spencer Abraham, commented: "The Uranium Reserve
is an important step to help rebuild America's nuclear fuel
capabilities, not only as a backup to mitigate potential supply
disruptions, but also to revitalize U.S. capability to fuel the
existing reactor fleet as well as new advanced reactors. We are
looking forward to the continued improvement in the nuclear fuel
markets and further expanding UEC's production capabilities to help
supply America's uranium needs."
About Uranium Energy
Corp
Uranium Energy Corp is the fastest growing supplier of the fuel
for the green energy transition to a low carbon future. UEC is the
largest, diversified North American focused uranium company,
advancing the next generation of low-cost, environmentally friendly
In-Situ Recovery ("ISR") mining uranium projects in the United
States and high-grade conventional projects in Canada.
The Company has two production-ready ISR hub and spoke platforms
in South Texas and Wyoming. These two production
platforms are anchored by fully operational central processing
plants and served by seven U.S. ISR uranium projects with all their
major permits in place. Additionally, the Company has diversified
uranium holdings including: (1) one of the largest physical uranium
portfolios of North American warehoused U3O8;
(2) a major equity stake in Uranium Royalty Corp., the only royalty
company in the sector; and (3) a Western Hemisphere pipeline of
resource stage uranium projects. The Company's operations are
managed by professionals with decades of hands-on experience in the
key facets of uranium exploration, development and mining.
Twitter: @UraniumEnergy
Stock Exchange Information:
NYSE American: UEC
Frankfurt Stock Exchange Symbol: U6Z
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
securities 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, 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. Many of these factors are
beyond the Company's ability to control or predict. 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. 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 news 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