Uranium Resources Announces Proposed Public Offering of Common Stock
January 12 2017 - 5:25PM
Uranium Resources, Inc. (Nasdaq:URRE) (ASX:URI),
an energy metals exploration and development company, today
announced that it intends to offer and sell, subject to market
conditions, shares of its common stock in a public offering.
The offering is being made on a “best efforts” basis and is
subject to market and other 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.
Dawson James Securities, Inc. is acting as the sole
book-running manager for the offering. URI intends to use the
net proceeds from the proposed offering to fund ongoing business
activities, which may include technical studies, restoration
commitments, capital expenditures, debt reduction, working capital
and other general corporate purposes.
The securities are being offered by URI pursuant to
an effective shelf registration statement (File No. 333-196880),
which was declared effective by the U.S. Securities and Exchange
Commission (the “SEC”) on June 30, 2014. A preliminary
prospectus related to the offering has been filed with the SEC and
will be available on the website of the SEC at www.sec.gov. Copies
of the preliminary prospectus and a final prospectus, when
available, may also be obtained from Dawson James Securities, Inc.,
Attention: Prospectus Department, 1 North Federal Highway, 5th
Floor, Boca Raton, FL 33432, mmaclaren@dawsonjames.com or toll
free at (866) 928-0928.
This press release shall not constitute an offer to
sell or the solicitation of an offer to buy, nor shall there be any
sale of, these securities in any state or jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of such
state or jurisdiction.
About Uranium Resources (URI)
URI is focused on developing energy-related
metals. The Company has developed a dominant land position in
two prospective lithium brine basins in Nevada and Utah in
preparation for exploration and potential development of any
lithium resources that may be discovered there. In addition,
URI remains focused on advancing the Temrezli in-situ recovery
(ISR) uranium project in Central Turkey when uranium prices permit
economic development of this project. URI controls extensive
exploration properties in Turkey under nine exploration and
operating licenses covering approximately 32,000 acres (over 13,000
ha) with numerous exploration targets, including the potential
satellite Sefaatli Project, which is 30 miles (48 km) southwest of
the Temrezli Project. In Texas, the Company has two licensed and
currently idled uranium processing facilities and approximately
11,000 acres (4,400 ha) of prospective ISR uranium projects. In New
Mexico, the Company controls mineral rights encompassing
approximately 186,000 acres (75,300 ha) in the prolific Grants
Mineral Belt, which is one of the largest concentrations of
sandstone-hosted uranium deposits in the world. Incorporated in
1977, URI also owns an extensive information database of historic
drillhole logs, assay certificates, maps and technical reports for
uranium properties located in the Western United States.
Cautionary Statement
This news release contains forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements are subject to
risks, uncertainties and assumptions and are identified by words
such as "expects," "estimates," "projects," "anticipates,"
"believes," "could," and other similar words. All statements
addressing events or developments that the Company expects or
anticipates will occur in the future, including but not limited to
statements relating to the closing of the offering and developments
at the Company’s projects, including future exploration costs and
results, are forward-looking statements. Because they are
forward-looking, they should be evaluated in light of important
risk factors and uncertainties. These risk factors and
uncertainties include, but are not limited to, (a) the Company's
ability to raise additional capital in the future; (b) spot price
and long-term contract price of uranium and lithium; (c) risks
associated with our foreign operations, (d) operating conditions at
the Company's projects; (e) government and tribal regulation of the
uranium industry, the lithium industry, and the power industry; (f)
world-wide uranium and lithium supply and demand, including the
supply and demand for lithium based batteries; (g) maintaining
sufficient financial assurance in the form of sufficiently
collateralized surety instruments; (h) unanticipated geological,
processing, regulatory and legal or other problems the Company may
encounter in the jurisdictions where the Company operates,
including in Texas, New Mexico, Utah, Nevada and Turkey; (i) the
ability of the Company to enter into and successfully close
acquisitions or other material transactions; (j) the results of the
Company’s lithium brine exploration activities at the Columbus
Basin and Sal Rica Projects, and (k) other factors which are more
fully described in the Company's Annual Report on Form 10-K,
Quarterly Reports on Form 10-Q, and other filings with the
Securities and Exchange Commission. Should one or more of these
risks or uncertainties materialize, or should any of the Company's
underlying assumptions prove incorrect, actual results may vary
materially from those currently anticipated. In addition, undue
reliance should not be placed on the Company's forward-looking
statements. Except as required by law, the Company disclaims any
obligation to update or publicly announce any revisions to any of
the forward-looking statements contained in this news release.
Uranium Resources Contact:
Christopher M. Jones, President and CEO
303.531.0472
Jeff Vigil, VP Finance and CFO
303.531.0473
Email: Info@uraniumresources.com
Website: www.uraniumresources.com
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