Uranium Energy (NYSE American: UEC) today announced that it has closed a series of transactions with Anfield Energy Inc. pursuant to which Anfield has settled $18.34 million of indebtedness owing to UEC. The company received the indebtedness through its $112 million acquisition of Uranium One Americas Inc. in December 2021. Subsequent to the closing of the indebtedness and the pending return of certain surety amounts related to the U1 Americas transaction, UEC will have no debt and over $182 million of cash and liquid assets. “We are pleased to have completed mutually beneficial agreements where the Anfield indebtedness has now been repaid to UEC with significant cash proceeds and a strategic equity stake in Anfield,” said Amir Adnani, UEC’s president and CEO. “The transactions also include a property swap allowing us to consolidate 25 additional uranium properties into our Wyoming portfolio including the Charlie project, which will be incorporated into our future mining operations at the Christensen Ranch project. As a result, UEC will control the largest ISR uranium portfolio in the United States. We look forward to Anfield’s progress as it emerges from these transactions debt-free and positioned as a leading conventional uranium-vanadium developer in the Uravan Mineral Belt.”
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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 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 of their major permits in place. Additionally, the company has other diversified holdings of uranium assets, including: 1) one of the largest physical uranium portfolios of U.S. warehoused U3O8; 2) a major equity stake in the only royalty company in the sector, Uranium Royalty Corp; and 3) a pipeline of resource-stage uranium projects in Arizona, New Mexico, Texas, Wyoming 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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