Glass Lewis Recommends Stockholders Vote
“FOR” the Director Nominees and All Proposals
Stockholders Must Request Admission Ticket
to Attend Annual Meeting
Westwater Resources, Inc. (Nasdaq: WWR), an energy
materials development company, is pleased to announce that Glass
Lewis & Co. (“Glass Lewis”), a leading independent proxy
advisory firm, has recommended the Company’s stockholders vote
“FOR” all five of the Company’s director nominees and
“FOR” all of the other proposals at the Company’s upcoming
2020 Annual Meeting of Stockholders (the “Annual Meeting”),
including advisory approval of the Company’s executive
compensation, approval of the issuance of shares to Lincoln Park
Capital Fund, and approval of additional shares under the Company’s
2013 Omnibus Incentive Plan. We believe that we have the right
Board and strategy in place to drive long-term value creation for
all Company stockholders, and we are pleased that Glass Lewis
recommends that stockholders support our proposals at the Annual
Meeting.
In addition, due to the public health impact of the coronavirus
(COVID-19) and to support the health and well-being of our
stockholders, directors, officers, employees, partners and
communities we are issuing the following additional information to
advise that the Company is changing the process for gaining
admission to the Annual Meeting.
We are still planning to hold the Annual Meeting in person at
our headquarters, located at 6950 South Potomac Street, Suite 300,
Centennial, Colorado 80112 on Tuesday, April 28, 2020. However,
COVID-19 continues to spread around the world and throughout the
United States, including Colorado. The health and safety of our
stockholders, officers, and employees are of paramount concern to
our Board of Directors and management. To minimize the risk to any
attendee at our Annual Meeting, including stockholders, we strongly
encourage all stockholders to vote their shares in advance, over
the telephone or over the Internet, rather than attend the Annual
Meeting in person. This approach is consistent with stay-at-home
orders issued in Colorado and the metropolitan areas including and
surrounding Denver.
In order to properly plan for social distancing at the Annual
Meeting, any stockholder intending to attend the Annual Meeting in
person must pre-register and obtain an admission ticket. We are
adding this requirement to permit us to plan ahead regarding the
number of attendees and to implement sufficient safety measures at
the Annual Meeting, although we recommend that stockholders vote by
proxy rather than attend the Annual Meeting in person. Please
present the admission ticket and a valid, government-issued photo
identification at the entrance of our headquarters in order to
attend the Annual Meeting. Any person without an admission ticket
will not be admitted to the Annual Meeting. All hand-carried items
are subject to inspection and will be screened at the door.
In order to obtain an admission ticket, please contact our
Corporate Secretary by sending the request to 6950 S. Potomac
Street, Suite 300, Centennial, Colorado 80112, or to info@westwaterresources.net no later than Tuesday,
April 21, 2020. If you are a stockholder of record, please provide
your name and mailing address on your request. If you are a
stockholder who holds shares in “street name,” please provide your
name and mailing address and evidence of your stock ownership as of
the record date. A copy of your brokerage or bank statement will
suffice as evidence of ownership, or you can obtain a letter from
your broker or bank. Following your request, an admission ticket
will be mailed to you.
About Westwater Resources
WWR is focused on developing energy-related materials. The
Company’s battery-materials projects include the Coosa Graphite
Project — the most advanced natural flake graphite project in the
contiguous United States — and the associated Coosa Graphite Mine
located across 41,900 acres (~17,000 hectares) in east-central
Alabama. In addition, the Company maintains lithium mineral
properties in prospective lithium brine basins in Nevada and Utah.
Westwater’s uranium projects are located in Texas and New Mexico.
In Texas, the Company has two licensed and currently idled uranium
processing facilities and approximately 11,000 acres (~4,400
hectares) of prospective in-situ recovery uranium projects. In New
Mexico, the Company controls mineral rights encompassing
approximately 188,700 acres (~76,000 hectares) in the prolific
Grants Mineral Belt, which is one of the largest concentrations of
sandstone-hosted uranium deposits in the world. Incorporated in
1977 as Uranium Resources, Inc., Westwater also owns an extensive
uranium information database of historic drill hole logs, assay
certificates, maps and technical reports for the western United
States. For more information, visit www.westwaterresources.net.
Cautionary Statement
This news release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements are subject to risks, uncertainties and
assumptions and are identified by words such as “expects,”
“estimates,” “projects,” “anticipates,” “believes,” “could,” and
other similar words. All statements addressing events or
developments that WWR expects or anticipates will occur in the
future, including but not limited to the future demand for and
price of graphite, lithium and uranium, the Company’s growth,
developments at the Company’s projects, and the Company’s liquidity
and cash demands, including future capital markets financing and
disposition activities, are forward-looking statements. Because
they are forward-looking, they should be evaluated in light of
important risk factors and uncertainties. These risk factors and
uncertainties include, but are not limited to, (a) the Company’s
ability to successfully integrate Alabama Graphite Corporation’s
business into its own, and the risk that additional analysis of the
Coosa Graphite Project may result in revisions to the findings of
WWR’s initial optimization study; (b) the Company’s ability to
raise additional capital in the future; (c) spot price and
long-term contract price of graphite, lithium, vanadium and
uranium; (d) risks associated with our operations and the
operations of our partners such as Dorfner Anzaplan, including the
impact of COVID-19; (e) operating conditions at the Company’s
projects; (f) government and tribal regulation of the graphite
industry, the lithium industry, the vanadium industry, the uranium
industry, and the power industry; (g) world-wide graphite, lithium,
vanadium and uranium supply and demand, including the supply and
demand for lithium-based batteries; (h) maintaining sufficient
financial assurance in the form of sufficiently collateralized
surety instruments; (i) unanticipated geological, processing,
regulatory and legal or other problems the Company may encounter in
the jurisdictions where the Company operates or intends to operate,
including in Alabama, Texas, New Mexico, Utah, and Nevada; (j) the
ability of the Company to enter into and successfully close
acquisitions or other material transactions; (k) the results of the
Company’s lithium brine exploration activities at the Columbus
Basin and Sal Rica projects, and the possibility that future
exploration results may be materially less promising than initial
exploration result; (I) any graphite, lithium, vanadium or uranium
discoveries not being in high-enough concentration to make it
economic to extract the metals; (m) currently pending or new
litigation or arbitration; and (n) other factors which are more
fully described in the Company’s Annual Report on Form 10-K,
Quarterly Reports on Form 10-Q, and other filings with the
Securities and Exchange Commission. Should one or more of these
risks or uncertainties materialize or should any of the Company’s
underlying assumptions prove incorrect, actual results may vary
materially from those currently anticipated. In addition, undue
reliance should not be placed on the Company’s forward-looking
statements. Except as required by law, the Company disclaims any
obligation to update or publicly announce any revisions to any of
the forward-looking statements contained in this news release.
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version on businesswire.com: https://www.businesswire.com/news/home/20200413005146/en/
Westwater Resources Contact: Christopher M. Jones,
President & CEO Phone: 303.531.0480 Jeff Vigil, VP Finance
& CFO Phone: 303.531.0481 Email:
Info@WestwaterResources.net
Investor Relations Contact: Michael Porter Porter, LeVay
& Rose Phone: 212.564.4700 Email: Westwater@plrinvest.com
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