Uranium Energy Corp. (UEC) Announces Completion of $27.5 Million Financing

QualityStocks would like to highlight Uranium Energy Corp. (NYSE AMEX: UEC), a U.S.-based exploration and development company with the objective of near-term uranium production in the U.S.

In the company’s news yesterday,

Uranium Energy Corp. announced that it has completed its previously announced private placement financing involving the sale of an aggregate of 8,111,313 units of the company, at a price of $3.40 per Unit, for gross proceeds of $27,578,464.20.

Each Unit consists of one common share of common stock and one-half of one transferable common stock purchase warrant of the company, with each such whole warrant being exercisable for one additional common share of the companyat an exercise price of $3.95 per warrant share for a period of one year from closing.

Amir Adnani, president and CEO commented, “We are pleased to complete this financing. We have a number of expansion and production opportunities to address. But first, the Company’s focus is on achieving initial production at the Palangana ISR project in the coming weeks.”

Rodman & Renshaw LLC, Haywood Securities Inc., together with a number of other registered dealers, acted as non-exclusive placement agents for the financing.

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Forward-Looking Statement:
This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.