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Uranium Energy Corp Completes Financing
June
29, 2009, Austin, Texas � Uranium Energy Corp (NYSE AMEX:UEC;
the �Company�) is pleased to announce that, effective after the close on June
26, 2009, the Company completed a private placement financing involving the
sale of an aggregate of 9,099,834 units of the Company (each a �Unit�),
together with 200,000 common shares (each a �Share�), at a subscription price
of $2.40 per Unit and Share, for gross proceeds of $22,319,601.
Each Unit
is comprised of one common share (each a �Unit Share�) and one-half of one
transferable common stock purchase warrant (each a �Warrant�) of the Company,
with each such whole Warrant being exercisable for one additional common
share of the Company (each a �Warrant Share�) at an exercise price of $3.10
per Warrant Share for a period of two years from closing.
A total
of 4,283,515 Units are being held in escrow pending receipt by the Company of
subscription funds totaling approximately $10,280,434, which is expected to
occur on or about Thursday, July 2, 2009.
The net
proceeds from the financing will be used for final permitting and
construction of the Company�s Goliad ISR Uranium Project, and for general
corporate purposes.
The
Unit Shares, the Warrants and the Warrant Shares have not been registered
under the United States Securities Act of 1933, as amended, and
may not be offered or sold in the United States absent registration or an
applicable exemption from the registration requirements.
About
Uranium Energy Corp
Uranium
Energy Corp is a US-based resource company with the objective of becoming a
near-term ISR uranium producer in the United States. Utilizing its
extensive information library of historic uranium exploration and development
work, the Company has acquired and is advancing uranium properties throughout
the southwestern US. A Draft Mine Permit was recently issued for the
Company�s lead project, the Goliad ISR Uranium Project in South Texas.
Operational management is comprised of pre-eminent uranium mining and
exploration professionals whose collective experience in this industry gives
the Company ongoing uranium mine-finding and mine development expertise.
Contact
North America: Investor Relations, Uranium Energy Corp:
Toll Free: (866)
748-1030
Fax: (512) 535-0832
E-mail: info@uraniumenergy.com
Stock
Exchange Information:
NYSE AMEX: UEC
Frankfurt Stock Exchange Symbol: U6Z
WKN: A�JDRR
ISN: US916896103
Safe
Harbor Statement
Except
for the statements of historical fact contained herein, the information
presented in this news release constitutes �forward-looking statements� as
such term is used in applicable United States and Canadian laws. These
statements relate to analyses and other information that are based on
forecasts of future results, estimates of amounts not yet determinable and
assumptions of management. In particular, statements concerning
historical mineral resource estimates should be viewed as forward-looking
statements to the extent that they involve estimates of the mineralization
that will be encountered if the property is developed. Any statements that
express or involve discussions with respect to predictions, expectations,
beliefs, plans, projections, objectives, assumptions or future events or
performance (often, but not always, using words or phrases such as �expects�
or �does not expect�, �is expected�, �anticipates� or �does not anticipate�,
�plans, �estimates� or �intends�, or stating that certain actions, events or
results �may�, �could�, �would�, �might� or �will� be taken, occur or be
achieved) are not statements of historical fact and should be viewed as
�forward-looking statements�. Such forward looking statements involve known
and unknown risks, uncertainties and other factors which may cause the actual
results, performance or achievements of the Company to be materially
different from any future results, performance or achievements expressed or
implied by such forward-looking statements. Such risks and other factors
include, among others, the actual results of exploration activities,
variations in the underlying assumptions associated with the estimation or
realization of mineral resources, the availability of capital to fund
programs and the resulting dilution caused by the raising of capital through
the sale of shares, accidents, labour disputes and other risks of the mining
industry including, without limitation, those associated with the
environment, delays in obtaining governmental approvals, permits or financing
or in the completion of development or construction activities, title
disputes or claims limitations on insurance coverage. Although the
Company has attempted to identify important factors that could cause actual
actions, events or results to differ materially from those described in
forward-looking statements, there may be other factors that cause actions,
events or results not to be as anticipated, estimated or intended.
There can be no assurance that such statements will prove to be accurate as
actual results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not place
undue reliance on forward-looking statements contained in this news release
and in any document referred to in this news release.
Forward looking
statements are made based on management�s beliefs, estimates and opinions on
the date the statements are made and the Company undertakes no obligation to
update forward-looking statements if these beliefs, estimates and opinions or
other circumstances should change, except as required by applicable
law. Such forward-looking statements reflect our current views with
respect to future events and are subject to certain risks, uncertainties and
assumptions, including, the risks and uncertainties outlined in our most
recent financial statements and reports and registration statement filed with
the United States Securities and Exchange Commission (the �SEC�) (available
at www.sec.gov)
and with Canadian securities administrators (available at www.sedar.com).
Such risks and uncertainties may include, but are not limited to, the risks
and uncertainties set forth in the Company�s filings with the SEC, such as
the ability to obtain additional financing, the ability to manage growth,
acquisitions of technology, equipment or human resources, the effect of
economic and business conditions, the ability to attract and retain skilled
personnel and factors outside the control of the Company. These
forward-looking statements are made as of the date of this news release, and
the Company assumes no obligation to update the forward-looking statements or
to update the reasons why actual results could differ from those projected in
the forward-looking statements. Although the Company believes that the
beliefs, plans, expectations and intentions contained in this news release
are reasonable, there can be no assurance those beliefs, plans, expectations
or intentions will prove to be accurate. Investors should consider all
of the information set forth herein and should also refer to the risk factors
disclosed in the Company�s periodic reports filed from time-to-time with the
SEC. This news release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of these
securities in any jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the securities
laws of any such jurisdiction.
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