Uranium Energy Corp. announced this morning that it has entered into definitive agreements to sell units of the company through a private placement, with each unit consisting of one common share of the company’s common stock and one-half of one common stock share purchase warrant, for aggregate gross proceeds of up to approximately $27,528,467.20. The closing of this offering is subject to customary closing conditions.

As detailed in the agreements, Uranium Energy is expected to sell up to an aggregate of 8,096,608 Units, at a price of $3.40 per Unit, so that the purchasers will receive an aggregate of up to 8,096,608 shares of common stock. Purchasers will also receive warrants to purchase up to an additional 4,048,304 shares of common stock of the company, which are only exercisable for a period of one year from the date of closing. The warrants have an exercise price of $3.95.

Commenting on the offering, Amir Adnani, President and CEO stated, “With the Company’s initial production scheduled to start in Texas this quarter, we are bolstering our treasury to maximize our financial flexibility and improve our balance sheet. The bulk of these proceeds will be directed toward anticipated start-up at the Goliad ISR project.”

He continued, “In addition, the South Texas Uranium Belt holds significant known resources that are amenable to low-cost in-situ recovery, and the Company plans to use a portion of proceeds to continue to build a strong and diversified pipeline of advanced, development and exploration-stage properties for expanding production there for many years.”

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