Uranium Resources Announces Closing of Registered Direct Financing, Upcoming ROTH Conference Presentation & 2014 Financial Re...
07 March 2015 - 08:30AM
Business Wire
Uranium Resources, Inc. (NASDAQ:URRE) announced today
that it has closed the registered direct financing that was
publicly announced on March 3, 2015 relating to the sale of
4,000,000 shares of its common stock and warrants to purchase
2,200,000 shares of its common stock to several institutional
investors for gross proceeds of $6.0 million.
URRE intends to use the net proceeds from this offering to fund
ongoing business activities, including an $0.8 million exploration
drilling program in South Texas, reclamation work, capital
expenditures, working capital and other general corporate
purposes.
The securities were offered by the Company pursuant to an
effective 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 were
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, or from
Roth Capital Partners, Equity Capital Markets, 888 San Clemente
Drive, Newport Beach, CA 92660 (telephone: 800-678-9147; e-mail:
rothecm@roth.com).
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. The shares of common stock and
warrants may only be offered by means of a prospectus.
ROTH Conference Webcast
President and Chief Executive Officer Christopher M. Jones will
be making a corporate presentation at the 27th Annual ROTH
Conference at Laguna Niguel, California, at 4:30 p.m. local time on
Monday, March 9, 2015. A webcast and a PDF of the presentation will
be available on the Company’s website that day.
Mr. Jones’ presentation will provide business highlights of
2014, including the strategic non-cash asset exchange that enhanced
the Company’s mid-term path to production with the addition of new
potential in-situ recovery projects in South Texas. In addition,
Mr. Jones will be meeting with investors during the conference on
March 9 and 10.
The conference is by invitation only and organized by ROTH
Capital Partners.
2014 Results Conference Call
Mr. Jones and members of management will host a conference call
and webcast to discuss the Company’s 2014 financial results, a
business update and its 2015 outlook on Thursday, March 19, 2015 at
11:00 a.m. Eastern time (9:00 a.m. Mountain). The conference call
and presentation are also available via a live webcast through the
Company’s website, www.uraniumresources.com.
Dial-in Numbers:
+1 800-319-4610 (U.S. and Canada)
+1 604-638-5340 (International)
Conference ID:
Uranium Resources Conference Call
A replay of the call will be available at the numbers below and
on the Company’s website through April 9, 2015.
Replay Numbers:
+1 800-319-6413 (U.S. and Canada)
+1 604-638-9010 (International)
Code:
1426 followed by # sign
About Uranium Resources
Uranium Resources, Inc. was incorporated in 1977 to explore,
develop and recover uranium. Uranium Resources has two licensed and
currently idled processing facilities and approximately 17,000
acres of prospective in situ recovery (ISR) projects in Texas. In
New Mexico, the Company holds a federal Nuclear Regulatory
Commission license to recover up to three million pounds of uranium
per year using the ISR process at certain properties and controls
minerals rights encompassing approximately 195,000 acres in the
prolific Grants Mineral Belt in New Mexico, which holds one of the
largest known concentrations of sandstone-hosted uranium deposits
in the world. The Company acquired these properties along with an
extensive uranium information database of historic drill hole logs,
assay certificates, maps and technical reports for the Western
United States.
Cautionary Statement
This news release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements are subject to risks, uncertainties and
assumptions and are identified by words such as "expects,"
"estimates," "projects," "anticipates," "believes," "could," and
other similar words. All statements addressing operating
performance, events or developments that the Company expects or
anticipates will occur in the future, including but not limited to
statements relating to the use of the proceeds from the registered
direct offering and the Company’s path to production are
forward-looking statements. Because they are forward-looking, they
should be evaluated in light of important risk factors and
uncertainties. These risk factors and uncertainties include, but
are not limited to, (a) the Company's ability to raise additional
capital in the future, (b) spot price and long-term contract price
of uranium, (c) the Company's ability to reach agreements with
current royalty holders, (d) weather conditions, operating
conditions at the Company's projects, (e) government and tribal
regulation of the uranium industry and the nuclear power industry,
(f) world-wide uranium supply and demand, (g) availability of
capital, (h) maintaining sufficient financial assurance in the form
of sufficiently collateralized surety instruments and other factors
which are more fully described in the Company's documents filed
with the Securities and Exchange Commission. Should one or more of
these risks or uncertainties materialize, or should any of the
Company's underlying assumptions prove incorrect, actual results
may vary materially from those currently anticipated. In addition,
undue reliance should not be placed on the Company's
forward-looking statements. Except as required by law, the Company
disclaims any obligation to update or publicly announce any
revisions to any of the forward-looking statements contained in
this news release.
Learn more about the Company and its Texas Projects
atwww.uraniumresources.com
Sign up for Email Alerts athttp://investor.uraniumresources.com/alerts.cfm?
Uranium ResourcesWendy Yang, 303-531-0478Investor
Relationswyang-ir@uraniumresources.com
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