Uranium Resources, Inc. (Nasdaq:URRE) (“URI” or the “Company”) announced
today that it has entered into a securities purchase agreement with
certain institutional investors to sell approximately $10.3 million of
its common stock in a registered direct offering.
Under the terms of the securities purchase agreement, URI will issue an
aggregate of 3,960,000 shares of common stock at a price of $2.60 per
share. The closing of the funding is expected to take place on or about
February 12, 2014, subject to the satisfaction of customary closing
conditions.
Roth Capital Partners and Cowen and Company, LLC acted as co-placement
agents in connection with the transaction.
URI intends to use the net proceeds from this offering to fund the
completion of ongoing technical reports for three projects in New Mexico
compliant with Canadian National Instrument 43-101, reclamation work,
capital expenditures, working capital and other general corporate
purposes.
The shares are being offered by URI pursuant to an effective shelf
registration statement (File No. 333-174845), which was declared
effective by the U.S. Securities and Exchange Commission (the “SEC”) on
June 24, 2011. A prospectus supplement and accompanying base prospectus
relating to the offering will be filed with the SEC. Copies of the
prospectus and prospectus supplement relating to the offering may be
obtained at the SEC’s website, http://www.sec.gov
or from Roth Capital Partners, Equity Capital Markets, 888 San Clemente
Drive, Newport Beach, CA 92660 (telephone: 800-678-9147; e-mail: rothecm@roth.com).
This news release does not and shall not constitute an offer to sell or
the solicitation of an offer to buy any securities, nor shall it
constitute an offer, solicitation or sale in any jurisdiction in which,
or to any person to whom, such offer, solicitation or sale is unlawful.
The shares of common stock may only be offered by means of a prospectus.
About Uranium Resources
Uranium Resources, Inc. explores for and recovers uranium. URI has over
206,600 acres of uranium mineral holdings in New Mexico, processing
facilities and properties in Texas, and an NRC license to recover up to
three million pounds of uranium per year using the in situ recovery
(ISR) process. The Company acquired these properties over the past 20
years, along with an extensive information database of historic drill
hole logs, assay certificates, maps and technical reports.
For further information about Uranium Resources, please refer to our
website at www.uraniumresources.com.
Safe Harbor 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 operating performance, 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 registered
direct offering and the use of the proceeds 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, the Company's ability
to raise additional capital in the future, spot price and long-term
contract price of uranium, the outcome of negotiations with the Navajo
Nation, the Company's ability to reach agreements with current royalty
holders, weather conditions, operating conditions at the Company's
projects, government and tribal regulation of the uranium industry and
the nuclear power industry, world-wide uranium supply and demand,
availability of capital, maintaining sufficient financial assurance in
the form of sufficiently collateralized surety instruments and other
factors which are more fully described in the Company's documents filed
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.
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