Uranium Energy extends $20 million 8% credit facility to Jan. 1, 2020

Investors Sprott and CEF to get 959,163 common shares as extension fee

By Devika Patel

Knoxville, Tenn., Feb. 10 – Uranium Energy Corp. said it amended its $20 million senior secured credit facility with Sprott Resource Lending Partnership and CEF (Capital Markets) Ltd. The facility was negotiated on July 31, 2013 and was previously amended on March 14, 2014.

In the latest revision, the company and lenders agreed to defer principal payments to Feb. 1, 2019 and extend the facility’s maturity date to Jan. 1, 2020.

The loan continues to bear interest at 8%. The company will also pay the lenders an extension fee of 959,163 common shares. The exercise price of the warrants issued in connection with the facility has been lowered to $1.35 per share from $2.50 per share and the warrants will now expire on Jan. 30, 2020 to match the facility’s new maturity date.

Uranium Energy is a resource company based in Austin, Texas.

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