Uranium Energy (NYSE American: UEC) today announced that it has completed the transactions contemplated in the definitive share purchase agreement with Uranium One Investments Inc., a subsidiary of Uranium One Inc. As a result, UEC has acquired all of the issued and outstanding shares of Uranium One Americas Inc. for a total purchase price of $112 million in cash together with an additional $2.9 million in estimated working capital and the assumption of $19 million in reclamation bonding (the “acquisition”). Uranium One is the fourth largest uranium producer in the world and part of Russia’s State Atomic Energy Corporation, Rosatom. “We are very pleased to have closed this highly accretive transaction for UEC. The acquisition doubles our production capacity in three key categories: total number of permitted U.S. ISR projects, resources and processing infrastructure,” said Amir Adnani, UEC’s president and CEO. “Also, the opportunity to have acquired an advanced asset base of this quality from one of the global leaders in the nuclear energy industry is highly unique.”
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About Uranium Energy Corp.
Uranium Energy 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 its fully-licensed Hobson Processing Facility, which is central to its 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. For more information about the company, visit www.UraniumEnergy.com.
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