Uranium Energy Announces $10 Million Financing

Uranium Energy Corp. (NYSEMKT:UEC) announced that is has entered into definitive agreements with two institutional investors to purchase an aggregate of up to 5 million units of the company at a price of $2 per unit for the gross proceeds of $10 million.

As quoted in the press release:

Unit for gross proceeds of up to $10,000,000 (the “Offering”). Each Unit is comprised of one share of common stock of the Company and 0.50 of one share purchase warrant (each a “Warrant”), with each whole Warrant being exercisable at a price of $2.35 to purchase one share of common stock of the Company for a three year period from the date of issuance. The closing of the Offering is expected to take place on or about June 26, 2015, subject to satisfaction of customary closing conditions.

The Company is offering and selling the Units pursuant to a Securities Purchase Agreement dated June 22, 2015.  The Company anticipates that the net proceeds from the Offering will be used for general corporate and working capital purposes.

In connection with the Offering, H.C. Wainwright & Co., LLC acted as the sole lead placement agent and Cantor Fitzgerald & Co. acted as co-placement agent.  Dundee Capital Markets Ltd. acted as a financial advisor.

The Units are being offered by the Company pursuant to a prospectus supplement to the Company’s effective shelf registration statement on Form S-3 (File No. 333-193104) previously filed with the United States Securities and Exchange Commission (the “SEC”).

Amir Adnani, president and CEO of Uranium Energy, commented:

We are very pleased to complete this capital raise on attractive terms which will enable the continued growth of our South Texas hub-and-spoke operations and provide us with greater financial flexibility.

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