Uranium Energy Corp Closes US$20 Million Loan Facility

Uranium Energy Corp (NYSEMKT:UEC) has entered into a US$20,000,000 senior secured Credit Facility with Sprott Resource Lending Partnership and CEF (Capital Markets) Limited.

According to the press release:

Under the Credit Facility the Company has received initial funding in the amount of US$10,000,000 (the “Initial Advance”), with an additional US$5,000,000 available for draw-down by the Company pursuant to a second advance, and a further additional US$5,000,000 available for draw-down by the Company pursuant to a third advance, in each case in accordance with the terms of the Credit Agreement.

Amir Adnani, President and CEO commented:

Closing of this facility injects non-dilutive growth capital into the Company while aligning our interest with two North American and Asian resource investors in Sprott and CEF Holdings Limited. As we look to develop strategic ties in Asia, the fastest growing market for nuclear power, it is important to establish relations with one of the region’s largest conglomerates.