Uranium Energy (NYSE American: UEC) together with UEX Corporation (TSX: UEX) today announced the closing of the previously disclosed plan of arrangement under the Canada Business Corporations Act. Under the arrangement, approved at a special meeting of UEX securityholders on Aug. 15, 2022, and subsequently approved by the Supreme Court of British Columbia on Aug. 18, 2022, UEC acquired all of the issued and outstanding common shares of UEX that it did not already own. Per the terms of the arrangement, UEX shareholders received 0.090 common shares of UEC for each UEX common share held. “We are pleased to have completed our acquisition of UEX. This marks UEC’s second successful highly accretive M&A transaction in the last year, creating the largest diversified North American focused uranium company,” said UEC’s president and CEO Amir Adnani. “We welcome UEX shareholders to UEC and appreciate the vote of confidence in supporting our transaction. The competing interest for UEX from other industry participants further validates the significant upside and strategic rationale we identified in UEX’s portfolio of high-grade projects in the world-class Athabasca Basin of Saskatchewan. We look forward to working with our new stakeholders and the joint venture partners, including Cameco, Orano and Denison.”
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About Uranium Energy Corp.
Uranium Energy is America’s leading, fastest growing, uranium mining company listed on the NYSE American. UEC is a pure-play uranium company and is advancing the next generation of low-cost, environmentally friendly in-situ recovery (“ISR”) mining uranium projects. The company has two production-ready ISR hub-and-spoke platforms in South Texas and Wyoming, anchored by fully licensed and operational processing capacity at the Hobson and Irigaray plants. UEC also has seven U.S. ISR uranium projects with all of their major permits in place. Additionally, the company has other diversified holdings of uranium assets, including: (1) one of the largest physical uranium portfolios of U.S. warehoused U3O8 ; (2) a major equity stake in the only royalty company in the sector, Uranium Royalty Corp.; and (3) a pipeline of resource-stage uranium projects in Arizona, New Mexico and Paraguay. The company’s operations are managed by professionals with a recognized profile for excellence in their industry, a profile based on many decades of hands-on experience in the key facets of uranium exploration, development and mining. For more information about the company, visit www.UraniumEnergy.com.
NOTE TO INVESTORS: The latest news and updates relating to UEC are available in the company’s newsroom at https://ibn.fm/UEC
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