Ur-Energy Announces Cost-Saving Measures

About this update from Ur-energy Inc.

[{"type":"text","content":"\n\n\n\nUr-Energy Announces Cost-Saving Measures\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\n\nCanada NewsWire\nLITTLETON, Colo., Aug. 6, 2019\n\n\n\nLITTLETON, Colo., Aug. 6, 2019 /CNW/ -- Ur-Energy Inc. (NYSE American:URG)(TSX:URE) (the \"Company\" or \"Ur-Energy\") announces it has implemented an additional reduction in force, primarily affecting employees at its Lost Creek facility. \n\n \n \n\n \nOn July 12, 2019, the President responded to our Section 232 Trade Action with a Memorandum establishing the United States Nuclear Fuel Working Group (the \"Working Group\") to develop recommendations for reviving and expanding domestic uranium production. The Memorandum did not, however, offer any current relief in response to the Trade Action, such as the domestic quotas suggested by our Petition. As a result of the White House decision to not take action at this time, we were compelled to respond and initiate significant cost-saving measures which, unfortunately, included a reduction in force affecting ten of our Wyoming employees. Other, additional, measures will be taken to streamline our expenditures even further while we await the outcome of the Working Group's efforts and pursue other avenues of relief.\nUr-Energy Chairman and CEO, Jeff Klenda, said, \"We are determined to succeed in our work alongside the Trump Administration and with our customers to find solutions to correct this dysfunctional uranium market, and we remain optimistic that a positive outcome will be reached through these efforts. We must, however, at the same time take aggressive proactive measures to further control costs. We are taking these measures to maximize the amount of time, or 'runway,' available to the Company to avoid dilution of our shareholders or other needs for financing. During this time, we will avail ourselves of any and all remedies to ensure the continued viability of our Company. Sadly, these measures include the difficult decision to lay off ten of our Wyoming staff.\" \nSeveral remaining employees have been asked to change job responsibilities and/or...

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