VANCOUVER, BC, July 27,
2022 /CNW/ - Uranium Royalty Corp.
(NASDAQ: UROY) (TSXV: URC) ("URC" or the "Company")
announces that it has published its annual information form,
management's discussion and analysis, and annual consolidated
financial statements for the year ended April 30, 2022, which are available on SEDAR at
www.sedar.com and EDGAR at www.sec.gov.
As at April 30, 2022, the Company
had approximately C$132 million in
cash, marketable securities and physical uranium
holdings.
Physical uranium holdings at April 30,
2022 were 1,448,068 pounds U3O8, which
were acquired by URC at a weighted average cost of US$41.19 per pound. Based on the most recent
daily spot price published by TradeTech LLC of US$47.00 on July 26,
2022, the net realizable value of such holdings has
increased by approximately US$8
million since the balance sheet date.
The Company also recorded an increase in the fair value of its
short-term investments of approximately C$16
million during the year ended April
30, 2022. The carrying value of the short-term investments
was C$51.8 million as of April 30, 2022.
During the three months and year ended April 30, 2022, the Company distributed 2,518,916
and 6,175,771 common shares pursuant to its previously announced
at-the-market equity program through the facilities of the TSX
Venture Exchange ("TSX-V") and NASDAQ for net proceeds of
approximately C$13 million and
C$34 million, respectively.
Management Update
The Company is pleased to announce the appointment of
Katherine Arblaster as Vice
President, Environmental, Social, and Governance and Yong-Jae Kim as General Counsel, effective
June 20, 2022 and July 7, 2022, respectively. The Company's
Board of Directors has authorized and approved a grant of 25,000
incentive stock options each to Ms. Arblaster and Mr. Kim.
The stock options are exercisable at a price of C$3.26 per share in the case of Ms. Arblaster and
C$2.88 per share in the case of Mr.
Kim, being the closing price of the Company's shares on the TSX-V
on June 17, 2022 and July 6, 2022, respectively, for a period of five
years from the date of grant. The stock options are subject
to the terms of the Stock Option Plan and the approval of the
TSX-V.
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.
Forward Looking Statements
Certain statements in this news release may constitute
"forward-looking information." Forward-looking information
includes statements that address or discuss activities, events or
developments that the Company expects or anticipates may occur in
the future. When used in this news release, words such as
"estimates", "expects", "plans", "anticipates", "will", "believes",
"intends" "should", "could", "may" and other similar terminology
are intended to identify such forward-looking information.
Statements constituting forward-looking information reflect the
current expectations and beliefs of the Company's management. These
statements involve significant uncertainties, known and unknown
risks, uncertainties and other factors and, therefore, actual
results, performance or achievements of the Company and its
industry may be materially different from those implied by such
forward-looking statements. They should not be read as a guarantee
of future performance or results, and will not necessarily be an
accurate indication of whether or not such results will be
achieved. A number of factors could cause actual results to differ
materially from such forward-looking information, including,
without limitation, risks inherent to royalty companies, uranium
price volatility, risks related to the operators of the projects
underlying the Company's existing and proposed interests and those
other risks described in filings with Canadian securities
regulators and the U.S. Securities and Exchange Commission. These
risks, as well as others, could cause actual results and events to
vary significantly. Accordingly, readers should exercise caution in
relying upon forward-looking information and the Company undertakes
no obligation to publicly revise them to reflect subsequent events
or circumstances, except as required by law.
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.
