Ur-Energy Announces CDN$5,000,000 Private Placement

- June 2nd, 2010

Ur-Energy Inc. reports that it has closed a brokered private placement financing. 
Under the Offering, the Company issued 5,000,000 common shares at a price of CDN$1.00 per share for gross proceeds of CDN$5,000,000. Blackrock, Inc. (“Blackrock”), an insider of the Company, through one of its investment advisory subsidiaries, subscribed for all of the 5,000,000 common shares issued […]

Ur-Energy Inc. reports that it has closed a brokered private placement financing. 

Under the Offering, the Company issued 5,000,000 common shares at a price of CDN$1.00 per share for gross proceeds of CDN$5,000,000. Blackrock, Inc. (“Blackrock”), an insider of the Company, through one of its investment advisory subsidiaries, subscribed for all of the 5,000,000 common shares issued under the Offering.

Jeffrey Klenda, Chairman of Ur-Energy states:

“Blackrock has been our largest shareholder since 2005, prior to our IPO, and has been a solid supporter of the Company since that time. We are extremely pleased with Blackrock’s desire to increase its holdings to this extent. It clearly demonstrates their ongoing commitment to Ur-Energy’s success.”

Bill Boberg, President and CEO of Ur-Energy further states:

“We continue to be well funded with CDN$38.5 million as current cash resources as of March 31, 2010. We believe this is sufficient cash to get our Lost Creek Project into production after receiving the final necessary licenses in upcoming months. While our current guidance for receipt of all final permits and licenses continues to be this summer, various regulatory delays over the past couple of years created a funding gap before first cash flow. Blackrock’s continuing support of Ur-Energy is most appreciated.”

For complete news release, click here.

For Ur-Energy’s company profile, click here.

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