Uranium Energy Corp Announces Closing of Private Placement Offering

Austin, Texas - Uranium Energy Corp (the “Company”) is pleased to report the closing of its previously announced private placement offering pursuant to which the Company has now issued an aggregate of 1,800,000 units (each a “Unit”), at a subscription price of $3.75 per Unit and for gross proceeds of $6,750,000, with each Unit being comprised of one common share (each a “Unit Share”) and one transferable common stock purchase warrant (each a “Warrant”) of the Company, and with each Warrant being exercisable for one additional common share of the Company (each a “Warrant Share”) at an exercise price of $4.25 per Warrant Share for a period of one year from closing.

The offering was completed through a syndicate of placement agents, with a cash commission of 6% having been paid by the Company to the placement agents at closing.

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.

The net proceeds of the offering will be used to advance the Company’s Goliad project, for other exploration and development activities, for land and project acquisitions and for general corporate purposes.

Safe Harbor Statement

This news release contains forward-looking statements within the meaning of Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities and Exchange Act of 1934, as amended.  Statements in this news release, which are not purely historical, are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future.  These statements involve risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements contained herein.  Such risks and uncertainties may include, but are not limited to, the impact of competitive products, the ability to meet customer demand, 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 United States Securities and Exchange Commission.  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.