The Conversation (0)
Uranium Energy Corp (NYSEMKT:UEC) announced that Sprott Resource Lending Partnership and CEF Capital Markets Limited have extended the previously announced $20,000,000 senior secured credit facility by deferring required principal payments by two years, as well as extending the Credit Facility by two years to now a full four years.
As quoted in the press release:
CEF’s Chairman and CEO, Warren Gilman stated, “Our investment in UEC is based on the uniqueness and quality of their assets as well as the strength of its management team. We are pleased to continue our support of the Company as it positions itself as the leading uranium producer in the U.S.”
Narinder Nagra, President of Sprott Resource Lending Corp., added, “We anticipate improving conditions in the uranium market driven by the continued growth of nuclear power globally and strong supply-demand fundamentals for uranium over the medium to long-term. We support UEC’s goal of becoming an important and strategic producer in the U.S., which despite being the world’s largest consumer of nuclear power, is presently heavily dependent on imported uranium supply to fuel its nuclear reactors.”
Uranium Energy Corp. President and CEO, Amir Adnani, said:
The $10 million drawdown combined with the Credit Facility Extension have significantly strengthened UEC’s financial position in a manner which is non-dilutive to our shareholders. We will be utilizing this injection of growth capital to continue advancing our Texas hub-and-spoke production platform.
Click here to read the Uranium Energy Corp (NYSEMKT:UEC) press release
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