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Ur-Energy Announces Completion Of Bought Deal Financing
Ur-Energy Announces Completion Of Bought Deal Financing Ur-Energy Announces Comple...
About this update from Ur-energy Inc.
[{"type":"text","content":"\n\n\n\nUr-Energy Announces Completion Of Bought Deal Financing\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nUr-Energy Announces Completion Of Bought Deal Financing\nCanada NewsWire\nLITTLETON, Colo., Feb. 17, 2016\n\n\n\nLITTLETON, Colo., Feb. 17, 2016 /CNW/ -- Ur-Energy Inc. (NYSE MKT:URG, TSX:URE) (the \"Company\" or \"Ur-Energy\") is pleased to announce that it has completed its previously-announced bought deal financing with a syndicate of investment dealers led by Cantor Fitzgerald Canada Corporation and including Raymond James Ltd. and Dundee Securities Ltd. (the \"Underwriters\"). The Underwriters purchased, on a bought deal basis, 12,921,000 common shares of Ur-Energy at a purchase price of US$0.50 per common share, for aggregate gross proceeds to the Company in the amount of US$6.46 million (the \"Offering\"), which includes 921,000 common shares acquired pursuant to the partial exercise of the Underwriters' over-allotment option. \n\n\nUr-Energy plans to use the net proceeds of the Offering, (i) to advance the operations and development of the Lost Creek Project including wellfield construction and development as identified in the recently-completed Amended Preliminary Economic Assessment for the Lost Creek Property, (ii) for payment of ongoing debt service obligations, and (iii) for general corporate purposes. \n\nJeff Klenda, the Executive Director of the Company, purchased 1,000,000 common shares under the Offering for gross proceeds of US$500,000. Mr. Klenda's participation constitutes a \"related party transaction\" as defined in Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (\"MI 61-101\"). The Offering is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101. The audit committee of the Company and the board of directors of the Company, excluding Mr. Klenda, approved the Offering including the related party transaction.  The Company did not file a material change report more than 21 days prior to closing. The shorter period was necessary in order to permi...