Uranium Resources, Inc.
Announces Common Stock Offering
LEWISVILLE, TX, June 17, 2010 ---
Uranium Resources, Inc. (NASDAQ:� URRE)
(URI), announced today that it intends to offer,
subject to market and other conditions, up to 25 million shares of common stock
in an underwritten public offering.� The
offering is expected to price before 9:30 a.m. EDT on Tuesday, June 22, 2010.
The Company intends to
use the net proceeds from the offering for general corporate purposes, which
may include making additions to our working capital and funding future
acquisitions.
The offering described
above is being made pursuant to a shelf registration statement on Form S-3
filed with the Securities and Exchange Commission on May 7, 2010, which became
effective on May 21, 2010. A preliminary prospectus supplement relating to the
offering has been filed with the Securities and Exchange Commission today.� A prospectus supplement describing the final
terms of the offering will be filed with the Securities and Exchange Commission.
Roth Capital Partners is
acting as the sole underwriter of the offering.
When available, copies
of the preliminary prospectus supplement, the final prospectus supplement and
the accompanying prospectus relating to the offering, may be obtained from:
ROTH Capital Partners
By Email:� rothecm@roth.com
By Fax:� ��� 949.720.7227
Or by mail:
24 Corporate Plaza Drive
Newport Beach, CA� 92660
ATTN:� Equity Capital Markets
Copies of the registration statement, the prospectus and the related prospectus supplement are also available on the SEC's website at www.sec.gov.
This press release shall
not constitute an offer to sell, or the solicitation of an offer to buy, the
common stock; nor shall there be any offer or sale of these securities in any
state or jurisdiction in which such an offer, solicitation or sale would be
unlawful.� The offering is being made
only by means of a prospectus supplement and the accompanying prospectus. �
About
Uranium Resources, Inc.
Uranium
Resources Inc. explores for, develops and mines uranium.� Since its incorporation in 1977, URI has
produced over 8 million pounds of uranium by in-situ recovery (ISR) methods in
the state of Texas where the Company currently has ISR mining projects.� URI also has 183,000 acres of uranium mineral
holdings and 101.4 million pounds of in-place mineralized uranium material in
New Mexico and a NRC license to produce up to 1 million pounds of uranium per
year.� The Company acquired these
properties over the past 20 years along with an extensive information database
of historic mining logs and analysis.�
None of URI�s properties is currently in production. �
URI�s strategy is to fully exploit its resource base in New
Mexico and Texas, expand its asset base both within and outside of New Mexico
and Texas, partner with larger mining companies that have undeveloped uranium
or with junior mining companies that do not have the mining experience of URI,
as well as provide restoration expertise to those that require the capability
or lack the proficiency.
Uranium
Resources routinely posts news and other information about the Company on its
web site at www.uraniumresources.com.
Safe Harbor Statement
This press release
contains forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995.�
Forward-looking statements are subject to risks, uncertainties and
assumptions and are identified by words such as �expects,� �estimates,�
�projects,� �anticipates,� �believes,� �could,� and other similar words.� All statements addressing operating
performance, events, or developments that the Company expects or anticipates
will occur in the future, including but not limited to statements relating to
the Company�s mineralized uranium materials, timing of receipt of mining
permits, production capacity of mining operations planned for properties in
South Texas and New Mexico, planned dates for commencement of production at
such properties, revenue, cash generation and profits are forward-looking
statements. Because they are forward-looking, they should be evaluated in light
of important risk factors and uncertainties. These risk factors and
uncertainties include, but are not limited to, the spot price and long-term
contract price of uranium, weather conditions, operating conditions at the
Company�s mining projects, government regulation of the mining industry and the
nuclear power industry, world-wide uranium supply and demand, availability of
capital, timely receipt of mining and other permits from regulatory agents and
other factors which are more fully described in the Company�s documents filed
with the Securities and Exchange Commission.�
Should one or more of these risks or uncertainties materialize, or
should any of the Company�s underlying assumptions prove incorrect, actual
results may vary materially from those currently anticipated. In addition,
undue reliance should not be placed on the Company�s forward-looking
statements. Except as required by law, the Company disclaims any obligation to
update or publicly announce any revisions to any of the forward-looking
statements contained in this press release.
Investor Contact:
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Company Contact:
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Deborah K. Pawlowski/James M. Culligan
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Don Ewigleben
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Kei Advisors LLC
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President & Chief Executive Officer
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Phone:�
716.843.3908/ 716.843.3874
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Phone:�
972.219.3330
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Email:
dpawlowski@keiadvisors.com/jculligan@keiadvisors.com
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Media Contact:
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April Wade
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Ph:�
505.440.9441
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E-mail:� awade@uraniumresources.com
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Kei Advisors LLC
12 Fountain Plaza
Buffalo, NY 14202
USA