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Uranium Resources Secures up to $10.8 Million of Additional Funding from Aspire Capital
CENTENNIAL, Colo.--(BUSINESS WIRE)--Uranium Resources, Inc. (NASDAQ:URRE; ASX: URI), a leading exploration, development, and uranium production company, announc
About this update from Westwater Resources, Inc.
[{"type":"text","content":"CENTENNIAL, Colo.--(BUSINESS WIRE)--Uranium Resources, Inc. (NASDAQ:URRE; ASX: URI), a leading exploration, development, and uranium production company, announced that today it has entered into a stock purchase agreement with Aspire Capital Fund, LLC, selling 3,560,000 shares of its common stock in a registered direct offering for an aggregate purchase price of US $838,000.00. There were no underwriting discounts or placement agent fees. The Company intends to use the net proceeds from this transaction for general corporate purposes, which may include technical studies, restoration commitments, capital expenditures and working capital. Separately, on February 3, 2016, the Company and Aspire Capital also entered into an option agreement by which Aspire Capital granted the Company the right at any time or times prior to April 30, 2017, for the Company to require Aspire Capital to enter into up to two common stock purchase agreements, each having a term of up to 24 months, and collectively requiring Aspire Capital to purchase up to the aggregate amounts of which shall not exceed $10 million in the aggregate of Company’s common stock (or such lesser amount as the Company may determine) on an ongoing basis when required by the Company. Upon the execution of the option agreement, the Company issued 900,000 restricted common shares to Aspire Capital as a commitment fee. The securities in the registered direct offering are being offered by the Company pursuant to a shelf registration statement (File No. 333-196880), which was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on June 30, 2014. A prospectus supplement and accompanying base prospectus relating to the offering will be filed with the SEC. Copies of the prospectus and prospectus supplement relating to the offering may be obtained at the SEC’s website, http://www.sec.gov. This news release does not and shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall it constitute an offer, solicitation or sale in any jurisdiction in which, or to any person to whom, such offer, solicitation or sale is unlawful. Details of the stock purchase agreement and option agreement were filed with the SEC on Form 8-K earlier today. About Uranium Resources Uranium Resources, Inc. (URI) is focused on advancing to near-term pr...