Deal's proceeds slated to address expansion, production opportunities
By Devika Patel
Knoxville, Tenn., Oct. 27 - Uranium Energy Corp. announced it completed a private placement of units through a group of agents that included Rodman & Renshaw LLC and Haywood Securities Inc.
The company sold 8,111,313 units of one common share and one half-share warrant at C$3.40 apiece for C$27.58 million. Each whole one-year warrant will be exercisable at C$3.95, a 1.5% discount to the Oct. 26 closing share price of C$4.01.
"We are pleased to complete this financing," president and chief executive officer Amir Adnani said in a press release. "We have a number of expansion and production opportunities to address. But first, the company's focus is on achieving initial production at the Palangana ISR project in the coming weeks."
Uranium Energy is a resource company based in Austin, Texas.
| Issuer: | Uranium Energy Corp.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | C$27,578,464
|
| Units: | 8,111,313
|
| Price: | C$3.40
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$3.95
|
| Agent: | Rodman & Renshaw LLC and Haywood Securities Inc.
|
| Settlement date: | Oct. 27
|
| Stock symbol: | Amex: UEC
|
| Stock price: | $4.01 at close Oct. 26
|
| Market capitalization: | $234.87 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
