LOS ANGELES, March 30, 2021 (GLOBE NEWSWIRE) — (via InvestorWire) InvestorBrandNetwork (“IBN”), a multifaceted communications organization engaged in connecting public companies to the investment community, is pleased to announce the release of the latest episode of The Bell2Bell Podcast as part of its sustained effort to provide specialized content distribution via widespread syndication channels.
The Bell2Bell Podcast delivers informative updates and exclusive interviews with executives operating in fast-moving industries. Bell2Bell’s latest podcast features the return of Amir Adnani, President and CEO of Uranium Energy Corp (NYSE American: UEC), a U.S.-based uranium mining and exploration company. Under his guidance, Uranium Energy advanced from concept to U.S. production in its first five years of operation. The company has since developed an extensive pipeline of low-cost, near-term production projects and recently put into place a physical uranium holding initiative.
During the interview, Adnani provided an update on Uranium Energy’s recent news and milestones since his last appearance on The Bell2Bell Podcast, in early February.
“We’ve really strengthened our balance sheet. We now, as of our latest announcement, have close to $95 million in cash and equity holdings, including approximately $61 million in cash,” he said. “The other plan that UEC has announced, which is really transformative, is that we have established a physical uranium holding initiative. This has really both resonated with the market and, in my opinion, is just sound business for us.”
On March 16, 2021, Uranium Energy announced the formation of a physical uranium inventory initiative, with agreements to purchase 400,000 pounds of U.S. warehoused uranium. UEC expanded this program to 1.4 million pounds of U.S. warehoused uranium by announcing further purchases and a completed financing on March 22, 2021.
“We are, as a company, focused entirely on developing low-cost in-situ recovery uranium projects in the U.S., but we’re looking at a spot uranium price that, after a decade of being in a bear market, is starting to recover,” he continued. “We’re seeing great positive signs, but the spot uranium price – in and around $30 per pound – is still lower than the prevailing mining cost for most industry players anywhere in the world. We saw a unique opportunity to come out and acquire physical uranium that can be warehoused right here in the U.S. and will give the company a balance sheet asset that, as the uranium price goes up, can appreciate.”
On March 22, 2021, the company announced the closing of an aggregate offering of 10 million shares of common stock at a purchase price of $3.05 per share for gross proceeds of $30.5 million in a registered direct offering. Uranium Energy intends to use the net proceeds of the offering for additional uranium purchases relating to its physical uranium holding initiative, as well as for general corporate and working capital purposes.
“This physical initiative is fully funded,” Adnani added. “It gives us great flexibility when we’re marketing to utilities or if we’re talking to the U.S. government, about their plans to purchase physical uranium. We’ll have both, our projects, which we plan to produce uranium from, and we will have our strategic inventory holdings that will be available to the company as well.”
Join InvestorBrandNetwork’s Stuart Smith and Amir Adnani, President and CEO of Uranium Energy Corp (NYSE American: UEC), to hear more about Uranium Energy’s recent corporate developments, experienced management team and near-term objectives as regulatory tailwinds propel the U.S. uranium sector toward a bull market in 2021 and beyond.
To hear the whole episode and subscribe for future episodes, visit: https://podcast.bell2bell.com
This strategy could prove particularly timely in the wake of announcements that, in support of the Biden administration’s climate objectives to further reduce carbon emissions, the U.S. Department of Energy is launching a program called the U.S. Uranium Reserve through which the federal government will look to purchase $1.5 billion of newly mined U.S.-origin uranium over the next 10 years.
“This is exciting,” Adnani noted. “In the 15 years that I’ve been the CEO of Uranium Energy Corp., we’ve never seen a program like this where the U.S. government looks to purchase uranium. With our fully permitted projects in South Texas and Wyoming, we are the leader in our space for having the largest resource base of fully permitted low-cost in-situ recovery projects.”
With this opportunity in mind, Adnani then turned his attention to Uranium Energy’s recent announcement of plans to restart wellfield development and resource delineation drilling at its Burke Hollow in-situ recovery uranium project in South Texas.
“At our Burke Hollow project in South Texas, we’ve commenced a very aggressive and large-scale development program to get ready to supply uranium to this newly instituted U.S. reserve and, of course, to the global market and U.S. utilities,” he continued. “We are experiencing an historic moment for nuclear power in the United States from the standpoint of bipartisan support for nuclear energy. … We’re rising to that occasion as a company. At our Burke Hollow project, we are currently building one of the largest production areas currently in the United States and in the 45-year history of uranium mining in South Texas. … We’re going to have more news built around the ongoing drilling activity at the project for weeks and months to come.”
Join InvestorBrandNetwork’s Stuart Smith and Amir Adnani, president and CEO of Uranium Energy Corp. (NYSE American: UEC), to hear more about Uranium Energy’s ongoing efforts to rebuild the domestic uranium production sector by leveraging an extensive portfolio of low-cost, near-term production projects.
To hear the whole episode and subscribe for future episodes, visit: https://podcast.bell2bell.com
The latest installment of The Bell2Bell Podcast continues to reinforce InvestorBrandNetwork’s commitment to the expansion of its robust network of brands, client partners, followers and the growing IBN Podcast Series. For more than 15 years, IBN has leveraged this commitment to provide unparalleled distribution and corporate messaging solutions to 500+ public and private companies.
To learn more about IBN’s achievements and milestones via a visual timeline, visit: https://IBN.fm/TimeLine
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Forward-Looking Statements
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the company’s SEC filings. These risks and uncertainties could cause the company’s actual results to differ materially from those indicated in the forward-looking statements.
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