By Sheri Kasprzak
New York, May 25 - Uranium Energy Corp. settled a $5 million private placement.
The company issued 2.5 million units of one share and one half-share warrant.
Each of the whole warrants allows for the purchase of another share at $2.50 for one year.
The placement was not brokered.
Proceeds will be used for exploration and development on the company's properties in Texas, Wyoming, Arizona and Utah.
Austin, Texas-based Uranium Energy is a uranium exploration and development company.
| Issuer: | Uranium Energy Corp.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | $5 million
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| Units: | 2.5 million
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| Price: | $2.00
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | One year
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| Warrant strike price: | $2.50
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| Placement agent: | Non-brokered
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| Settlement date: | May 25
|
| Stock symbol: | OTCBB: URME
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| Stock price: | $2.73 at close May 25
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