Uranium Resources, Inc. (Nasdaq: URRE; URI) announced that the
Anatolia Energy Ltd. securityholders overwhelmingly approved the merger
with URI, which remains subject to the approval of the Federal Court of
Australia at a hearing in two weeks and an expected closing on or about
November 9, 2015.
Christopher M. Jones, President and Chief Executive Officer of URI, said,
“We thank the Anatolia securityholders for their strong support for
this transaction, making URI the world’s next low-cost uranium producer
with the Temrezli Project. We look forward to welcoming this broader
base of shareholders in Australia and around the world.”
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 closing, timing of closing
and benefits of the combination with Anatolia Energy and the timing,
occurrence or cost 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 court or regulatory approval for the combination, (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.
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