Energy Fuels Announces US$10.0 Million Bought Deal Offering of Units

LAKEWOOD, CO, Sept. 14, 2016 /PRNewswire/ – Energy Fuels Inc. (TSX:EFR,NYSEMKT:UUUU) is pleased to announce that it has entered into an underwriting agreement (the “Underwriting Agreement“) with a syndicate of underwriters led by Cantor Fitzgerald Canada Corporation and Rodman & Renshaw a unit of H.C. Wainwright & Co., LLC, acting as co-lead underwriters and joint book-running managers, under which the underwriters have agreed to buy on a bought deal, underwritten basis 5,555,556 units (the “Units“), each Unit consisting of one common share (each a “Share“) and one half of one common share purchase warrant (each whole warrant, a “Warrant“), at a price of US$1.80 per Unit for gross proceeds of US$10.0 million (the “Offering“).
The Company intends to use the net proceeds of the Offering (i) to continue to finance the previously announced shaft sinking and evaluation at the Company’s high-grade Canyon mine project in Arizona; (ii) to continue to fund wellfield construction at the Company’s Nichols Ranch Project in Wyoming; (iii) to continue permitting of the Company’s projects, including Roca Honda and Jane Dough; (iv) to repay principal on outstanding indebtedness; and (v) for general corporate needs and working capital requirements.
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