Uranium Energy (NYSE American: UEC), a U.S.-based uranium mining and exploration company, has reported an update regarding its holdings of common shares of UEX Corporation. According to the announcement, UEC has acquired 6,844,000 UEX common shares at an average cost of C$0.3601 per common share. Those shared are in addition to the 11,627,907 UEX common shares the company previously acquired through a private placement June 22, 2022. Altogether, UEC holds 18,471,907 UEX common shares, or approximately 3.32% of the shares currently outstanding. Last month, UEC entered into a definitive agreement with UEX noting that it is to acquire all issued and outstanding common shares of UEX in an all-share transaction by way of statutory plan of arrangement, resulting in the private placement. After the completion of that transaction, UEC announced its plan to acquire additional UEX common shares through the facilities of the TSX. The company reports that these additional UEX common shares are being held by UEC for investment purposes; the company also noted that it may either increase or decrease its beneficial ownership in the common shares of UEX.
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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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