Uranium Energy Inc (TSX:URE, NYSE MKT:URG) announced that it was able to raise approximately US $5.1M from the closing of a uranium sales transaction which it will use to support the ongoing construction of its Lost Creek Project.

As quoted in the press release:

Ur-Energy, with the cooperation of one of its utility customers, assigned a portion of its contractual delivery obligations to Traxys, a large uranium and natural resource trading company, in exchange for a current cash payment.  Ur-Energy has retained additional future delivery obligations under this and other previously announced uranium sales agreements.

Click here to read the full Uranium Energy Inc (TSX:URE, NYSE MKT:URG) press release.