By Devika Patel
Knoxville, Tenn., Dec. 13 - Uranium Energy Corp. announced it has taken in $6.75 million in a private placement of units. The deal priced for up to $7 million on Nov. 29.
The company sold 1.8 million units at $3.75 each. It originally planned to sell up to 1,866,667 units at that price. Each unit consists of one common share and one transferable warrant. Each whole warrant is exercisable at $4.25 for one year.
The offering was completed by a syndicate of agents, who were paid a 6% cash commission at closing.
Proceeds will be used to advance the company's Goliad project, for exploration and development, for land and project acquisitions and for general corporate purposes.
Uranium Energy is a resource company based in Austin, Texas.
Issuer: | Uranium Energy Corp.
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Issue: | Units of one common share and one transferable warrant
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Amount: | $6.75 million
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Units: | 1.8 million
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Price: | $3.75
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Warrants: | One warrant per unit
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Warrant strike price: | $4.25
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Warrant expiration: | One year
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Fees: | 6%
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Pricing date: | Nov. 29
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Settlement date: | Dec. 13
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Stock symbol: | Amex: UEC
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Stock price: | $3.69 at close Nov. 28
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