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Energy Fuels Announces Closing of Previously Announced US$16,611,000 Bought Deal Offering
LAKEWOOD, CO, Feb. 20, 2020 /CNW/ - Energy Fuels Inc. (NYSE American: UUUU; TSX: EFR) ("Energy Fuels" or the "Company") is pleased to announce it has closed the
About this update from Energy Fuels Inc.
[{"type":"text","content":" LAKEWOOD, CO, Feb. 20, 2020 /CNW/ - Energy Fuels Inc. (NYSE American: UUUU; TSX: EFR) (\"Energy Fuels\" or the \"Company\") is pleased to announce it has closed the previously announced public offering of common shares (the \"Offered Shares\") made pursuant to an underwriting agreement dated February 13, 2020 (the \"Underwriting Agreement\") between the Company and a syndicate of underwriters led by Cantor Fitzgerald & Co. as lead underwriter and sole book-runner, and H.C. Wainwright & Co., LLC, Eight Capital, Haywood Securities Inc. and Roth Capital Partners, LLC (together with the Lead Underwriter, the \"Underwriters\") (the \"Offering\"). Pursuant to the Offering, the Company issued an aggregate of 11,300,000 common shares at a price of US$1.47 per share for gross proceeds of US$16,611,000. As previously announced, the Company intends to use the net proceeds of the Offering to provide the Company with additional financial flexibility and enhanced options with respect to any or all of the following: (i) to fund various activities required to increase uranium and/or vanadium production at the Company's properties in response to the President of the United States' budget for fiscal year 2021, including: wellfield construction and other enhancements at the Company's Nichols Ranch ISR Project in Wyoming, development and mining activities at the Company's La Sal Complex in Utah, development and mining activities at the Company's Canyon Mine in Arizona, exploration drilling, development activities and wellfield construction at the Company's Alta Mesa Project in Texas, exploration, permitting and development activities at the Company's other projects, and various capital and sustaining capital expenditures at the Company's White Mesa Mill and other projects; (ii) to continue to pursue additional revenue-generating activities at the White Mesa Mill, including alternate feed material processing and land clean-up activities; (iii) to continue to finance evaluation of the high-grade uranium and copper mineralization at the Company's Canyon Mine, including further evaluation of processing options at the White Mesa Mill for the copper resources; (iv) to continue permitting the Company's projects, including Roca Honda; (v) to repay all or a portion of the Company's convertible debentures; (vi) for gene...