Energy Fuels and Uranerz Set to Merge

 Energy Fuels Inc. (NYSE MKT: UUUU, TSX:EFR) has announced a merger between it and Uranerz Energy Corporation, where Energy Fuels will acquire all of the issued and outstanding shares of Uranerz common stock. The deal will mark the creation of the only integrated conventional and in-situ recovery uranium mining company focused solely on the United States.

Highlights of the deal include:

• Creation of the only integrated conventional and in-situ recovery (“ISR”) uranium mining company focused solely on the United States;
• Diversified ISR and conventional uranium production from two operating production centers, including the White Mesa uranium mill in Utah and the Nichols Ranch ISR mine and plant in Wyoming;
• A deep development pipeline of projects highlighted by conventional assets such as the Canyon Mine (Arizona), the Sheep Mountain Project (Wyoming), the Henry Mountains Project (Utah) and the Roca Honda Project (New Mexico), paired with Wyoming ISR development assets including the Jane Dough, Hank, West North Butte and Reno Creek Projects;
• A combined NI 43-101 resource base that will be the largest in the U.S. among producers and near producers;
• A strong portfolio of six uranium sales contracts extending to 2020, with approximately one million pounds of U3O8 under contract in 2015 alone;
• An ability to significantly scale-up uranium production in the coming years as uranium prices increase;
• The combined company will be an attractive platform for further accretive growth and consolidation within the U.S. uranium sector;
• Potential for significant cost savings and synergies with additional potential for other operating efficiencies;
• Combined management skill and expertise with the proven ability to successfully develop and produce uranium; and
• Based on the current share price of Energy Fuels, the combined company will be the largest publicly-traded uranium company by market capitalization operationally focused and listed in the U.S. This is expected to increase exposure to both institutional and retail investors globally, as well as increase the likelihood of the combined company (subject to market conditions) being included and/or receiving greater weightings in certain indices, such as the Russell 3000 Index, as well as certain Exchange Traded Funds such as the Global X Uranium ETF (NYSE: URA).

Stephen Antony, CEO and president, said:

The combination of Energy Fuels and Uranerz will create one of the few publicly-traded, integrated conventional-ISR uranium companies in the World. Energy Fuels has already established itself as a leading producer of uranium in the U.S. and the premier consolidator of U.S.-based uranium assets. By adding Uranerz to our corporate umbrella, we are creating a multi-source uranium production platform that is better positioned to respond to the dynamic and volatile nature of the uranium market.

Click here to read the Energy Fuels Inc. (NYSE,MKT:,UUUU,,TSX:EFR) press release
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