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Uranium Energy Corp Creates America's Largest Uranium Mining Company with the Acquisition of Uranium One Americas
CORPUS CHRISTI, TX, Nov. 9, 2021 /CNW/ - Uranium Energy Corp. (NYSE American: UEC) (the "Company" or "UEC") is pleased to announce the Company has entered into
About this update from Uranium Energy Corp.
[{"type":"text","content":" CORPUS CHRISTI, TX, Nov. 9, 2021 /CNW/ - Uranium Energy Corp. (NYSE American: UEC) (the \"Company\" or \"UEC\") is pleased to announce the Company has entered into a definitive share purchase agreement with Uranium One Investments Inc., a subsidiary of Uranium One Inc. (\"Uranium One\"), to acquire all the issued and outstanding shares of Uranium One Americas, Inc. (\"U1A\") for a total purchase price comprised of $112 million in cash and the replacement (with corresponding payments to the seller) of $19 million in reclamation bonding (the \"Acquisition\"). Uranium One is the world's fourth largest uranium producer and part of Russia's State Atomic Energy Corporation, Rosatom. The Acquisition is fully funded with UEC's existing balance sheet, which as of October 26, 2021 had over $235 million of cash and market value liquid assets. The U1A assets are primarily situated in the Powder River Basin of Wyoming; the most productive in-situ recovery (\"ISR\") uranium mining district in the western hemisphere. Highlights of the Acquisition include the following: Positions UEC, a U.S. corporation headquartered in Texas, as the largest American uranium mining company, amid a new era of domestic and global support for clean-air nuclear energy as essential to the realization of a low-carbon global economy; Creates Wyoming hub-and-spoke operations for UEC, anchored by U1A's Irigaray plant which is one of the largest central processing facilities in the United States with a licensed capacity of 2.5 million pounds U3O8 per year; Incorporates U1A's production-ready assets including Christensen Ranch ISR Project with four fully installed wellfields, and six additional permitted or development-stage satellite ISR projects, combining with UEC's Reno Creek Project; Anticipates significant capital expenditure savings and deep operating synergies with UEC's permitted and nearby Reno Creek ISR Project which is 45 miles away from the Irigaray plant; Secures approximately 37.6 million pounds U3O8 in historically estimated Measured and Indicated Resources and 4.3 million pounds U3O8 in historically estimated Inferred resources with considerable growth potential based on independent technical reports prepared for U1A. These historical resources are not treated by UEC as current and the Company plans to complete and report cu...