NYSE American: UEC
CORPUS
CHRISTI, Texas, Jan. 15,
2025 /CNW/ - Uranium Energy Corp (NYSE
American: UEC) (the "Company" or "UEC")
announces that it has completed the acquisition of 107,142,857
common shares (the "Anfield Shares") of Anfield Energy Inc.
("Anfield") (TSX-V: AEC)
for total consideration of $10.46
million ($15 million Canadian
dollars).
The acquisition was completed on January
15, 2025 pursuant to a subscription agreement between the
Company and Anfield, whereby the
Company subscribed for the Anfield Shares at a price of
$0.14 per share (Canadian dollars).
Immediately after the acquisition, the Company had beneficial
ownership, and control and direction of, a total of 203,415,775
Anfield Shares, representing approximately 17.8% of the outstanding
Anfield Shares on a non-diluted basis and approximately 24.2% of
the outstanding Anfield Shares on a partially diluted basis after
assuming the exercise of all warrants held by the Company.
Immediately prior to the acquisition, the Company beneficially
owned, and had control and direction of, 96,272,918 Anfield Shares
and 96,272,918 share purchase warrants of Anfield, each exercisable into an Anfield
Share at a price of $0.18 (Canadian
dollars) per share until May 12,
2027, representing approximately 9.3% of the outstanding
Anfield Shares at such time on a non-diluted basis and
approximately 17.0% on a partially diluted basis after assuming the
exercise of all of warrants held by the Company.
The Anfield Shares were acquired by the Company for investment
purposes. The Company will continue to monitor the business,
prospects, financial condition and potential capital requirements
of Anfield. Depending on its
evaluation of these and other factors, the Company may from time to
time in the future decrease or increase, directly or indirectly,
its ownership, control or direction over securities of Anfield through market transactions, private
agreements, subscriptions from treasury or otherwise, or may in the
future develop plans or intentions relating to any of the other
actions listed in (a) through (k) of Form 62-103F1 – Required
Disclosure Under Early Warning Requirements. In connection with
the acquisition, the Company has undertaken that it will not
exercise Warrants to the extent that it will result in the Company
becoming a "Control Person" of Anfield, as defined by the TSX Venture
Exchange policies, without written approval of the exchange,
including any disinterested shareholder approval required by
it.
The Company has filed an early warning report under Anfield's profile at SEDAR+ at
www.sedarplus.ca in connection with the acquisition under Canadian
National Instruments 62-103 – The Early Warning System and
Related Take-Over Bid and Insider Reporting
Requirements. To obtain more information or a copy of
such report, please contact Josephine
Man, Chief Financial Officer, at the contact details
below.
All ownership percentages herein are based upon the number of
outstanding Anfield Shares disclosed by Anfield in its Management's Discussion and
Analysis for the nine months ended September
30, 2024. The Company's head offices are located at 1030
West Georgia Street, Suite 1830, Vancouver, British Columbia, V6E 2Y3 and at
500 North Shoreline Boulevard, Suite 800N, Corpus Christi, Texas, 78401.
Anfield's head office is located
at 4390 Grange Street, Suite 2005, Burnaby, British Columbia V5H 1P6.
About Uranium Energy Corp
Uranium Energy Corp is America's largest and fastest growing
supplier of uranium needed to produce safe, clean, reliable nuclear
energy. UEC is advancing the next generation of low-cost,
environmentally friendly In-Situ Recovery ("ISR") mining uranium
projects in the United States and
high-grade conventional projects in Canada. The Company has
three hub and spoke platforms in South
Texas and Wyoming with a
combined licensed production capacity of 12.1 million pounds
U3O8 per year. These production platforms are
anchored by licensed Central Processing Plants ("CPPs") and served
by multiple U.S. ISR uranium projects. In August 2024, ISR operations began at the
Christensen Ranch project in Wyoming, sending uranium loaded resin to the
Irigaray CPP in Wyoming. The Company has diversified uranium
holdings including: (1) a conventional pipeline of high-grade
Canadian projects anchored by the worldclass Roughrider project;
(2) one of the largest physical uranium portfolios of U.S.
warehoused U3O8; and (3) a major equity stake
in Uranium Royalty Corp., the only royalty company in the sector.
The Company's operations are managed by professionals with decades
of hands-on nuclear fuel industry experience including the key
facets of uranium exploration, development, mining and
production.
Stock Exchange Information:
NYSE American:
UEC
WKN: AØJDRR
ISN: US916896103
Safe Harbor Statement
Except for the statements of historical fact contained herein,
the information presented in this news release constitutes
"forward-looking statements" as such term is used in applicable
United States and Canadian
securities laws. These statements relate to analyses and other
information that are based on forecasts of future results,
estimates of amounts not yet determinable and assumptions of
management. Any other statements that express or involve
discussions with respect to predictions, expectations, beliefs,
plans, projections, objectives, assumptions or future events or
performance (often, but not always, using words or phrases such as
"expects" or "does not expect", "is expected", "anticipates" or
"does not anticipate", "plans, "estimates" or "intends", or stating
that certain actions, events or results "may", "could", "would",
"might" or "will" be taken, occur or be achieved) are not
statements of historical fact and should be viewed as
"forward-looking statements". Such forward looking statements
involve known and unknown risks, uncertainties and other factors
which may cause the actual results, performance or achievements of
the Company to be materially different from any future results,
performance or achievements expressed or implied by such
forward-looking statements. Such risks and other factors include,
among others, the actual results of exploration activities,
variations in the underlying assumptions associated with the
estimation or realization of mineral resources, future mineral
resource estimates may vary from historic estimates, the
availability of capital to fund programs and the resulting dilution
caused by the raising of capital through the sale of shares,
accidents, labor disputes and other risks of the mining industry
including, without limitation, those associated with the
environment, delays in obtaining governmental approvals, permits or
financing or in the completion of development or construction
activities, title disputes or claims limitations on insurance
coverage. Although the Company has attempted to identify important
factors that could cause actual actions, events or results to
differ materially from those described in forward-looking
statements, there may be other factors that cause actions, events
or results not to be as anticipated, estimated or intended. Many of
these factors are beyond the Company's ability to control or
predict. There can be no assurance that such statements will prove
to be accurate as actual results and future events could differ
materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking
statements contained in this news release and in any document
referred to in this news release. Important factors that may cause
actual results to differ materially and that could impact the
Company and the statements contained in this news release can be
found in the Company's filings with the Securities and Exchange
Commission. For forward-looking statements in this news release,
the Company claims the protection of the safe harbor for
forward-looking statements contained in the Private Securities
Litigation Reform Act of 1995. The Company assumes no obligation to
update or supplement any forward-looking statements whether as a
result of new information, future events or otherwise. This news
release shall not constitute an offer to sell or the solicitation
of an offer to buy securities.
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SOURCE Uranium Energy Corp
