Uranium Energy Acquires Cue Resources

Uranium Energy Corp  (NYSE:UEC) and CUE Resources Ltd. (TSXV:CUE) announced UEC acquisition of CUE is complete as of March 30, 2012.

As quoted in the press release:

Following the completion of the Transaction, CUE is now a wholly-owned subsidiary of UEC.  In connection with the Transaction, UEC will issue 2,345,926 UEC common shares to former CUE shareholders as well as 171,303 UEC shares to settle certain debts of CUE.  CUE, through its wholly-owned subsidiary, held an undivided 100% legal and beneficial interest in and to certain concession contracts covering a 230,650-hectare uranium exploration property located in southeastern Paraguay known as the Yuty ISR Project.

Click here to read the Uranium Energy Corp  (NYSE:UEC) press release.