Uranium Energy Corp. (NYSE American: UEC) (“UEC” or the “Company”) is pleased to announce that, due to increased demand, its underwriters have now agreed to purchase 12,500,000 units of the Company (the “Units”), at a price of $1.20 per Unit, with each Unit consisting of one common share of the Company (each, a “Share”) and one-half of one common share purchase warrant (each whole warrant, a “Warrant”) for gross proceeds of approximately $15 million (the “Offering”).  Each Warrant will entitle its holder to acquire one common share (each, a “Warrant Share”) at an exercise price of $1.80 per Warrant Share exercisable immediately upon issuance and expiring 24 months from the closing of the Offering.
The Company anticipates that the net proceeds of the Offering will be used to fund exploration and development expenditures at the Company’s projects and for general corporate and working capital purposes.
Amir Adnani, President and CEO, stated: “We are pleased with the substantial level of interest for this Offering and appreciate the strong endorsement from our existing and new shareholders.  UEC’s fully permitted, low cost, In-Situ-Recovery (“ISR”) portfolio provides for a distinct advantage to supply U.S. production that is globally competitive.  The improved uranium market conditions we’ve witnessed in 2020, with uranium prices reaching a four-year high, bodes well for the future of our ISR project pipeline.  This over-subscribed financing improves our balance sheet as we advance our strategic objectives and production capabilities in Texas and Wyoming.”
The closing of the Offering is expected to occur on September 23, 2020, subject to customary closing conditions.
H.C. Wainwright & Co., LLC and Haywood Securities Inc. are acting as joint book-running managers in connection with the Offering and TD Securities Inc., Eight Capital and Roth Capital Partners, LLC are acting as co-managers.
A “shelf” registration statement relating to the shares of common stock and warrants to be issued in the Offering was filed in both in the United States with the Securities and Exchange Commission (the “SEC”) and declared effective by the SEC on March 3, 2020 and in Canada.
This press release does not and shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities, nor shall there be any sale of the securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state or jurisdiction.  The securities being offered have not been approved or disapproved by any regulatory authority, nor has any such authority passed upon the accuracy or adequacy of the prospectus supplement, the prospectus or the Company’s shelf registration statement.
About Uranium Energy Corp
Uranium Energy Corp is a U.S.-based uranium mining and exploration company.  In South Texas, the Company’s hub-and-spoke operations are anchored by the fully-licensed Hobson Processing Facility which is central to the Palangana, Burke Hollow and Goliad ISR projects.  In Wyoming, UEC controls the Reno Creek project, which is the largest permitted, pre-construction ISR uranium project in the U.S.  Additionally, the Company controls a pipeline of uranium projects in Arizona, New Mexico and Paraguay, a uranium/vanadium project in Colorado and a large, high-grade ferro-titanium project in 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.
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