LITTLETON, Colo., Sept. 20, 2018 /CNW/ -- Ur-Energy Inc.
(NYSE American: URG) (TSX: URE) ("Ur-Energy") announced today that
it intends to offer and sell its common shares and warrants to
purchase its common shares in an underwritten public offering. In
connection with this offering, Ur-Energy expects to grant the
underwriters a 30-day option to purchase additional common shares
and warrants, equal to up to 15% of the number of securities sold
in the offering. The offering is subject to market conditions, and
there can be no assurance as to whether or when the offering may be
completed, or as to the actual size or terms of the offering. All
of the securities in the offering are to be sold by Ur-Energy.
Cantor Fitzgerald & Co. is acting as the sole book-running
manager for the offering.
Ur-Energy anticipates using the net proceeds from the offering
to maintain and enhance operational readiness; additionally,
proceeds may be used for working capital and general corporate
purposes. The securities described above are being offered by the
Company pursuant to a shelf registration statement on Form S-3
previously filed with and declared effective by the Securities and
Exchange Commission (the "SEC") on August 3, 2017. A
preliminary prospectus supplement and the accompanying prospectus
relating to the securities being offered will be filed with the SEC
on September 20, 2018 and will be
available on the SEC's website at http://www.sec.gov. Copies
of the final prospectus supplement (when available) and
accompanying prospectus may be obtained from Cantor Fitzgerald
& Co., Attention: Capital Markets, 499 Park Ave., 6th
Floor, New York, New York 10022, or by telephone at
212-829-7122, or by e-mail at prospectus@cantor.com.
This announcement is neither an offer to sell, nor a
solicitation of an offer to buy, any of these securities and shall
not constitute an offer, solicitation or sale in any state or
jurisdiction in which such offer, solicitation or sale is
unlawful. Any offer, if at all, will be made only by means of
the prospectus supplement and accompanying prospectus forming a
part of the effective registration statement.
About Ur-Energy:
Ur-Energy is a U.S. uranium mining company with corporate and
operations offices in Denver,
Colorado, and Casper,
Wyoming, respectively. Ur-Energy operates the Lost
Creek in-situ recovery uranium facility in south-central
Wyoming. Ur-Energy has produced,
packaged and shipped more than 2 million pounds from Lost Creek
since the commencement of operations. Applications are under review
by various agencies to incorporate Ur-Energy's LC East project area
into the Lost Creek permits, and the company has begun to submit
applications for permits and licenses to construct and operate its
Shirley Basin Project. Ur-Energy is engaged in uranium mining,
recovery and processing activities in the United States,
including the acquisition, exploration, development and operation
of uranium mineral properties. The primary trading market for
Ur-Energy's common shares is the NYSE American under the trading
symbol "URG;" Ur-Energy's common shares also trade on the Toronto
Stock Exchange under the trading symbol "URE."
Cautionary Note Regarding Forward-Looking
Statements:
This release may contain "forward-looking statements" within the
meaning of applicable securities laws regarding events or
conditions that may occur in the future (e.g., the size and closing
date of the proposed offering and the use of proceeds from the
offering) and are based on current expectations that, while
considered reasonable by management at this time, inherently
involve a number of significant business, economic and competitive
risks, uncertainties and contingencies. Factors that could cause
actual results to differ materially from any forward-looking
statements include, but are not limited to, satisfaction of the
conditions to closing of the offering, delays in obtaining required
stock exchange or other regulatory approvals, commodity price
volatility, the impact of general business and economic conditions,
as well as other factors described in the public filings made by
the Company at www.sedar.com and www.sec.gov. Readers should not
place undue reliance on forward-looking statements. The
forward-looking statements contained herein are based on the
beliefs, expectations and opinions of management as of the date
hereof and Ur-Energy disclaims any intent or obligation to update
them or revise them to reflect any change in circumstances or in
management's beliefs, expectations or opinions that occur in the
future.
For further information, please contact:
Jeffrey Klenda, Chair and
CEO
+1 720-981-4588
Jeff.Klenda@Ur-Energy.com
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SOURCE Ur-Energy Inc.