LITTLETON, Colo., Aug. 4, 2020 /PRNewswire/ -- Ur-Energy
Inc. (NYSE American: URG) (TSX: URE) ("Ur-Energy")
announced today the closing of its previously announced registered
direct offering of 9,000,000 common shares and accompanying
one-half common share warrants to purchase up to 4,500,000 common
shares, at a combined public offering price of $0.52 per common share and accompanying one-half
common share warrant. The common share warrants will expire two
years from the date of issuance and will allow the holders to
purchase our common shares at an exercise price of $0.75 per whole common share. The gross
proceeds to Ur–Energy from this offering, before deducting the
placement agent's fees and other estimated offering expenses
payable by Ur–Energy, were $4.68
million.
Cantor Fitzgerald & Co. acted as the sole placement agent
for the offering.
Ur-Energy anticipates using the net proceeds from the offering
to sustain operations, and for working capital and general
corporate purposes.
The securities described above are being offered by Ur–Energy
pursuant to a shelf registration statement on Form S-3 previously
filed with and declared effective by the Securities and Exchange
Commission (the "SEC") on May 27, 2020. A prospectus
supplement and the accompanying prospectus relating to the
securities being offered have been filed with the SEC and are
available on the SEC's website at http://www.sec.gov. Copies
of the prospectus supplement and accompanying prospectus may be
obtained from Cantor Fitzgerald & Co., Attention: Capital
Markets, 499 Park Ave., 6th Floor, New York, New
York 10022 or by e-mail at prospectus@cantor.com.
This announcement is neither an offer to sell, nor a
solicitation of an offer to buy, any of these securities and shall
not constitute an offer, solicitation or sale in any state or
jurisdiction in which such offer, solicitation or sale is
unlawful. Offers will be made only by means of the prospectus
supplement and accompanying prospectus forming a part of the
effective registration statement.
About Ur-Energy:
Ur-Energy is a U.S. uranium mining company with corporate and
operations offices in Denver,
Colorado, and Casper,
Wyoming, respectively. Ur-Energy operates the Lost
Creek in-situ recovery uranium facility in south-central
Wyoming. Ur-Energy has produced,
packaged and shipped more than 2.6 million pounds from Lost Creek
since the commencement of operations. Applications are under review
by various agencies to incorporate Ur-Energy's LC East project area
into the Lost Creek permits, and the company has begun to submit
applications for permits and licenses to construct and operate its
Shirley Basin Project. Ur-Energy is engaged in uranium mining,
recovery and processing activities in the United States,
including the acquisition, exploration, development and operation
of uranium mineral properties. The primary trading market for
Ur-Energy's common shares is the NYSE American under the trading
symbol "URG;" Ur-Energy's common shares also trade on the Toronto
Stock Exchange under the trading symbol "URE."
Cautionary Note Regarding Forward-Looking
Statements:
This release may contain "forward-looking statements" within the
meaning of applicable securities laws regarding events or
conditions that may occur in the future (i.e., the use of
proceeds from the offering) and are based on current expectations
that, while considered reasonable by management at this time,
inherently involve a number of significant business, economic and
competitive risks, uncertainties and contingencies. Factors that
could cause actual results to differ materially from any
forward-looking statements include, but are not limited to,
commodity price volatility, the impact of general business and
economic conditions, as well as other factors described in the
public filings made by the Company at www.sedar.com and
www.sec.gov. Readers should not place undue reliance on
forward-looking statements. The forward-looking statements
contained herein are based on the beliefs, expectations and
opinions of management as of the date hereof and Ur–Energy
disclaims any intent or obligation to update them or revise them to
reflect any change in circumstances or in management's beliefs,
expectations or opinions that occur in the future.
For further information, please contact:
Jeffrey Klenda, Chair and
CEO
+1 720-981-4588
Jeff.Klenda@Ur-Energy.com
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SOURCE Ur-Energy Inc.
