Benzinga | Apr 6, 2021 06:10AM EDT

Uranium Energy Corp Announces Agreements With Institutional Investors To Purchase 3,636,364 Shares At $3.30/Share

The Company is also pleased to announce that it has entered into definitive agreements with institutional investors to purchase an aggregate of 3,636,364 common shares of the Company (each, a "Share") at a purchase price of $3.30 per Share and for gross proceeds of approximately $12,000,000 in a registered direct offering (the "Offering"). The closing of the Offering is expected to occur on or about April 8, 2021, subject to satisfaction of customary closing conditions.

Following the closing of the Offering and delivery of contracted drummed uranium, UEC will have more than $110 million of cash, equity and inventory holdings.