Uranium Energy (NYSE American: UEC), a U.S.-based uranium mining and exploration company, has entered into an amending agreement that stipulates UEC will acquire all issued and outstanding common shares of UEX by way of a statutory plan of arrangement under the Canada Business Corporations Act. The agreement amends the previously announced arrangement agreement between UEX, UEC and the UEC 2022 Acquisition Corp. According to the announcement, more than 38% of eligible UEX securities have already been tendered with 93.4% voting in favor of the UEC transaction. The amending agreement calls for holders of UEX shares to receive 0.0890 of one common share of UEC for each UEX share held, implying consideration of approximately C$0.49 per UEX share based on the closing price of UEX shares and UEC shares on the Toronto Stock Exchange and the NYSE American Exchange, respectively, as well as the spot exchange rate as of Aug. 5, 2022. The agreement has been unanimously approved by UEX board of directors; the board is recommending to UEX shareholders to vote in favor of the transaction. A vote will be held at a special meeting on Aug. 9, 2022. If the agreement is approved, the arrangement will likely be completed by mid-August, subject to obtaining court approval, stock exchange approval and certain required regulatory approvals, as well as the satisfaction or waiver of other conditions contained in the arrangement agreement. “We are pleased to have come to an agreement with UEX and look forward to completing this transaction following the UEX shareholder vote tomorrow,” said Uranium Energy president and CEO Amir Adnani in the press release. “As mentioned previously, the acquisition is expected to double UEC’s uranium resources at only 14.2% dilution to existing UEC Shareholders. Completion of this transaction will create the largest, diversified North American-focused uranium company with 100% unhedged production. Roger Lemaitre and the UEX team have done a remarkable job assembling and advancing a highly prospective portfolio, and UEC is looking forward to working with their experienced Canadian team to unlock additional value for shareholders.”

To view the full press release, visit https://ibn.fm/Wu5Zo

About Uranium Energy Corp.

Uranium Energy is America’s leading, fastest-growing uranium mining company listed on the NYSE American. UEC is a pure-play uranium company and is advancing the next generation of low-cost, environmentally friendly in-situ recovery (“ISR”) mining uranium projects. The company has two production-ready, ISR hub-and-spoke platforms in South Texas and Wyoming, anchored by fully licensed and operational processing capacity at the Hobson and Irigaray processing plants. UEC also has seven U.S. ISR uranium projects with all major permits in place. Additionally, the company has other diversified holdings of uranium assets, including one of the largest physical uranium portfolios of U.S. warehoused U3O8; a major equity stake in the only royalty company in the sector, Uranium Royalty Corp; and a pipeline of resource-stage uranium projects in Arizona, Colorado, New Mexico and Paraguay. The company’s operations are managed by professionals with a recognized profile for excellence in their industry, a profile based on many decades of hands-on experience in the key facets of uranium exploration, development and mining. For more information about the company, visit www.UraniumEnergy.com.

NOTE TO INVESTORS: The latest news and updates relating to UEC are available in the company’s newsroom at https://ibn.fm/UEC 

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