VANCOUVER, BC, March 28, 2022 /CNW/ - Uranium Royalty
Corp. (NASDAQ: UROY) (TSXV: URC) ("URC" or the
"Company") announces that it has made additional uranium
concentrate purchase commitments totaling 200,000 lbs
U3O8 at an average cost of US$58.40 per pound. Deliveries will be made
in April/May 2022 to URC's storage
account with Cameco Corporation in Ontario, Canada. The purchase will be funded
with cash on hand and available credit.
With these additions, URC will hold physical uranium inventories
of 1,548,068 pounds, acquired at a weighted average price of
US$42.20 per pound. The net
realizable value of URC's existing uranium inventories has
increased by approximately US$25
million since acquisition based on the most recent daily
spot price published by TradeTech LLC, being US$58.40 per pound.
As previously disclosed, URC has also contracted future purchase
commitments of 500,000 pounds U3O8 through
2025 at a weighted average price of US$47.71 per pound.
This news release constitutes a "designated news release" for
the purposes of the Company's prospectus supplement dated
August 18, 2021 to its short form
base shelf prospectus dated June 16,
2021.
About Uranium Royalty Corp.
Uranium Royalty Corp. (URC) is the world's only uranium-focused
royalty and streaming company and the only pure-play uranium listed
company on the NASDAQ. URC provides investors with uranium
commodity price exposure through strategic acquisitions in uranium
interests, including royalties, streams, debt and equity in uranium
companies, as well as through holdings of physical uranium. The
Company is well positioned as a capital provider to an industry
needing massive investments in global productive capacity to meet
the growing need for uranium as fuel for carbon-free nuclear
energy. URC has deep industry knowledge and expertise to
identify and evaluate investment opportunities in the uranium
industry. The Company's management and the Board include
individuals with decades of combined experience in the uranium and
nuclear energy sectors, including specific expertise in mine
finance, project identification and evaluation, mine development
and uranium sales and trading.
Neither the TSX-V nor its Regulation Services Provider (as
that term is defined in policies of the TSX-V) accepts
responsibility for the adequacy or accuracy of this
release.
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SOURCE Uranium Royalty Corp.