Uranium Resources, Inc. (Nasdaq: URRE; URI) and Anatolia Energy
Limited (ASX: AEK) jointly announce that URI’s 24% shareholder
Resource Capital Fund V L.P. (RCF) has committed to vote in support of
the combination of URI and Anatolia (Merger). RCF is satisfied with its
final due diligence related to the Merger and is evaluating project
financing options for Anatolia’s Temrezli Project.
Christopher M. Jones, President and Chief Executive Officer of URI,
commented, “We appreciate the support from RCF to create a stronger,
expanded URI. Our work with RCF’s technical experts has served to
reinforce our confidence in the Temrezli Project as one of the premier
undeveloped high-margin uranium properties in the world. We are pleased
to be nearing the shareholder meeting to effect this transformational
Merger.”
Paul Cronin, Managing Director and Chief Executive Officer of Anatolia,
said, “The satisfaction of the RCF Matters is a significant milestone in
the implementation of the merger between URI and Anatolia. We look
forward to the continued support of a premier resource financing partner
in RCF.”
On August 21, 2015, RCF confirmed to URI that the firm is either
satisfied or will waive any remaining due diligence items and conditions
described in Schedule 7 of the Merger’s Scheme Implementation Agreement.
RCF is URI’s largest shareholder and is one of the world’s largest
mining-focused private equity firms with offices in Denver, Perth,
Toronto, New York and Santiago.
In addition, URI’s annual meeting of its stockholders to vote on, among
other items, the issuance of URI securities to effect the Merger is
scheduled for 9 a.m. on September 23, 2015 (Denver time). URI’s Proxy
Statement has been filed and mailed or otherwise distributed to URI
shareholders.
URI has retained Regan & Associates, New York, as the proxy solicitor
for this stockholders’ meeting.
URI Presentations in Chicago and New York
Mr. Jones made presentations to brokers in Chicago and New York on
Monday August 24, 2015, and Tuesday August 25 arranged by Renmark
Financial. There will also be institutional meetings in Toronto on
August 27 arranged by Cantor Fitzgerald. The presentation PDF is
available on URI’s website.
About Uranium Resources
Uranium Resources, Inc. was incorporated in 1977 to explore, develop and
recover uranium. Uranium Resources has two licensed and currently idled
processing facilities and approximately 17,000 acres of prospective in
situ recovery (ISR) projects in Texas. In New Mexico, the Company holds
a federal Nuclear Regulatory Commission license to recover up to three
million pounds of uranium per year using the ISR process at certain
properties and controls minerals rights encompassing approximately
190,000 acres in the prolific Grants Mineral Belt in New Mexico, which
holds one of the largest known concentrations of sandstone-hosted
uranium deposits in the world. The Company acquired these properties
along with an extensive uranium information database of historic drill
hole logs, assay certificates, maps and technical reports for the
Western United States.
About Anatolia Energy
Anatolia Energy Ltd is a uranium exploration and development company
holding an extensive portfolio of licences within the Republic of
Turkey, and is well placed to become a key explorer and miner in
Turkey’s emerging uranium sector. Anatolia Energy has a 100% interest in
9 licences covering over 18,000ha of ground, including several advanced
exploration and development opportunities, in the central Anatolian
region of Turkey.
Anatolia has completed Pre-Feasibility Study (PFS) for the development
of its Temrezli ISR Project, which is premised on the construction of a
central processing plant (CPP) at the Temrezli site, and will process
uranium bearing solutions from the Temrezli well field, with potential
to process uranium-loaded resin transported from any satellite uranium
deposits developed in the future from Anatolia’s other projects in the
region.
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 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 consummation and benefits
of the Merger and the timing or occurrence of production at the
Company’s properties, 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; (c) the failure to obtain shareholder approval or court or
regulatory approval for the Merger, (d) the Company's ability to reach
agreements with current royalty holders; (e) operating conditions at the
Company's projects; (f) government and tribal regulation of the uranium
industry and the nuclear power industry; (g) world-wide uranium supply
and demand; (h) maintaining sufficient financial assurance in the form
of sufficiently collateralized surety instruments; (i) unanticipated
geological, processing, regulatory and legal or other problems the
Company may encounter, including in Turkey; (j) the ability of the
Company to enter into and successfully close acquisitions or other
material transactions, and 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.
Additional Information About the Merger and Where to Find It
This release is being provided in respect of the proposed acquisition of
Anatolia Resources Limited (“Anatolia”) by URI and related matters. In
connection with the proposed transaction, URI has filed with the
Securities and Exchange Commission (“SEC”) a proxy statement and has
mailed or otherwise disseminated the proxy statement and a form of proxy
to its stockholders. STOCKHOLDERS AND INVESTORS ARE ENCOURAGED TO READ
THE PROXY STATEMENT (AND OTHER RELEVANT MATERIALS) REGARDING THE
PROPOSED TRANSACTION CAREFULLY AND IN ITS ENTIRETY, AND BEFORE MAKING
ANY VOTING DECISION, AS IT CONTAINS IMPORTANT INFORMATION ABOUT THE
TRANSACTION. Stockholders and investors may obtain a free copy of the
proxy statement, as well as other filings made by URI regarding URI,
Anatolia and the proposed transaction, without charge, at the SEC’s
website at www.sec.gov.
In addition, documents filed with the SEC by URI are available free of
charge on the investor section of URI’s website at www.uraniumresources.com.
URI and certain of its directors and executive officers may be deemed,
under SEC rules, to be participants in the solicitation of proxies from
URI’s stockholders in connection with the proposed transaction. The
names of URI’s directors and executive officers and a description of
their interests in URI are set forth in URI’s Annual Report on Form 10-K
for the fiscal year ended December 31, 2014, which was filed with the
SEC on March 19, 2015, and Amendment No. 1 thereto, which was filed with
the SEC on April 30, 2015. Additional information about the interests of
potential participants is also contained in the proxy statement and
other relevant materials filed with the SEC in connection with the
proposed transaction. These documents may be obtained from the SEC
website and from URI in the manner noted above.
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