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Wednesday, December 01, 2010
Uranerz Enters Into Financing Agreement With
Haywood
Casper, Wyoming, December 1, 2010 - Uranerz Energy Corporation ("Uranerz"
or the "Company") (NYSE Amex and TSX: URZ; Frankfurt: U9E) is
pleased to announce that it has entered into a sales agreement with
Haywood Securities (USA) Inc. ("Haywood"), pursuant to which
the Company may, from time to time, offer and sell shares of its common
stock having an aggregate offering price of up to US$20 million through
Haywood, acting as agent for any sales made under an
"at-the-market" issuance.
The Company intends to use the net proceeds from the issuance to continue
the exploration and development of its properties in the central Powder
River Basin area of Wyoming, and for general corporate purposes,
including working capital and other general and administrative purposes.
In addition, if the Company receives the necessary mining licenses and
permits for the development of the Nichols Ranch ISR Uranium Project,
then the Company may allocate some portion of the net proceeds to mine
construction.
The shares of the Company's common stock will be offered through the NYSE
Amex pursuant to a prospectus supplement to the Company's effective shelf
registration statement on Form S-3 (Registration No. 333-160504)
previously filed with the United States Securities and Exchange
Commission (the "SEC"). Copies of the prospectus supplement and
the accompanying base prospectus relating to the offering may be obtained
from the SEC website at www.sec.gov, from
the System for Electronic Document Analysis and Retrieval
("SEDAR") website at www.sedar.com or by
contacting Haywood Securities (USA) Inc., Attention: Michelle Jankovich, Suite 2000-400 Burrard
Street, Vancouver BC, V6C 3A6.
This press release does not constitute an offer to sell or the
solicitation of any offer to buy the Company's common stock or any other
securities and shall not constitute an offer, solicitation or sale of any
securities in any jurisdiction in which such offer, solicitation or sale
would be unlawful.
About Uranerz
Uranerz Energy Corporation is a U.S.-based
uranium company focused on achieving near-term commercial in-situ
recovery ("ISR") uranium production in Wyoming, the largest
producer of uranium of any U.S. state. The Uranerz
management team has specialized expertise in the ISR uranium mining
method, and has a record of licensing, constructing and operating
commercial ISR uranium projects.
Uranerz Energy Corporation is listed on the
NYSE Amex and the Toronto Stock Exchange under the symbol
"URZ," and listed on the Frankfurt Stock Exchange under the
symbol "U9E."
Further Information
For further information, please contact Derek Iwanaka, Manager of Investor Relations at
1-800-689-1659 or by email at info@uranerz.com. Alternatively, please refer
to the Company's website at www.uranerz.com,
review the Company's filings with the SEC at www.sec.gov or
visit the Company's profile on SEDAR at www.sedar.com.
Forward-looking
Statements
This press release may contain or refer to "forward-looking
information" and "forward-looking statements" within the
meaning of applicable United States and Canadian securities laws, which
may include, but are not limited to, statements with respect to
anticipated sales of common stock pursuant to the sales agreement with
Haywood, anticipated use of proceeds, future production, planned
development, capital, operating cost and other projections, resource
estimates, planned exploration and drilling programs and results,
commodity recovery rates, the availability of future financing for
exploration, the regulatory approval of planned operations, the expected
advantages of ISR mining in relation to capital costs, operating costs,
environmental impact and other plans, estimates and expectations. Such
forward-looking statements reflect the Company's current views with
respect to future events and are subject to certain risks, uncertainties
and assumptions, including the risks and uncertainties outlined in the
Company's most recent financial statements and reports and registration
statement filed with the SEC (available at www.sec.gov) and
with Canadian securities regulators (available at www.sedar.com).
Should one or more of these risks or uncertainties materialize, or should
underlying assumptions prove incorrect, actual results may vary
materially from those anticipated, believed, estimated or expected. We do
not undertake to update forward-looking information or forward-looking
statements, except as required by law.
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