CENTENNIAL, Colo. -- (Business Wire)
Uranium Resources, Inc. (NASDAQ:URRE) announced today that it has
closed the registered direct financing that was publicly announced on
March 3, 2015 relating to the sale of 4,000,000 shares of its common
stock and warrants to purchase 2,200,000 shares of its common stock to
several institutional investors for gross proceeds of $6.0 million.
URRE intends to use the net proceeds from this offering to fund ongoing
business activities, including an $0.8 million exploration drilling
program in South Texas, reclamation work, capital expenditures, working
capital and other general corporate purposes.
The securities were offered by the Company 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 prospectus supplement and accompanying base prospectus
relating to the offering were 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 and warrants may only be offered by means of
a prospectus.
ROTH Conference Webcast
President and Chief Executive Officer Christopher M. Jones will be
making a corporate presentation at the 27th Annual ROTH
Conference at Laguna Niguel, California, at 4:30 p.m. local time on
Monday, March 9, 2015. A webcast and a PDF of the presentation will be
available on the Company’s website that day.
Mr. Jones’ presentation will provide business highlights of 2014,
including the strategic non-cash asset exchange that enhanced the
Company’s mid-term path to production with the addition of new potential
in-situ recovery projects in South Texas. In addition, Mr. Jones will be
meeting with investors during the conference on March 9 and 10.
The conference is by invitation only and organized by ROTH Capital
Partners.
2014 Results Conference Call
Mr. Jones and members of management will host a conference call and
webcast to discuss the Company’s 2014 financial results, a business
update and its 2015 outlook on Thursday, March 19, 2015 at 11:00 a.m.
Eastern time (9:00 a.m. Mountain). The conference call and presentation
are also available via a live webcast through the Company’s website, www.uraniumresources.com.
Dial-in Numbers:
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+1 800-319-4610 (U.S. and Canada)
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+1 604-638-5340 (International)
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Conference ID:
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Uranium Resources Conference Call
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A replay of the call will be available at the numbers below and on the
Company’s website through April 9, 2015.
Replay Numbers:
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+1 800-319-6413 (U.S. and Canada)
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+1 604-638-9010 (International)
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Code:
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1426 followed by # sign
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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
195,000 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.
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 use of the proceeds from
the registered direct offering and the Company’s path to production 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
Company's ability to reach agreements with current royalty holders, (d)
weather conditions, operating conditions at the Company's projects, (e)
government and tribal regulation of the uranium industry and the nuclear
power industry, (f) world-wide uranium supply and demand, (g)
availability of capital, (h) 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.
Learn more about the Company and its Texas Projects at
www.uraniumresources.com
Sign up for Email Alerts at
http://investor.uraniumresources.com/alerts.cfm?
Contacts:
Uranium Resources
Wendy Yang, 303-531-0478
Investor
Relations
wyang-ir@uraniumresources.com
Source: Uranium Resources
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