Uranium Energy (UEC) Raises $22M from Private Placement
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Uranium Energy Corp (AMEX: UEC) today announced that, effective after the close on June 26, 2009, the Company completed a private placement financing involving the sale of an aggregate of 9,099,834 units of the Company, together with 200,000 common shares, at a subscription price of $2.40 per Unit and Share, for gross proceeds of $22,319,601.
Each Unit is comprised of one common share and one-half of one transferable common stock purchase warrant of the Company, with each such whole Warrant being exercisable for one additional common share of the Company at an exercise price of $3.10 per Warrant Share for a period of two years from closing.
A total of 4,283,515 Units are being held in escrow pending receipt by the Company of subscription funds totaling approximately $10,280,434, which is expected to occur on or about Thursday, July 2, 2009.
The net proceeds from the financing will be used for final permitting and construction of the Company's Goliad ISR Uranium Project, and for general corporate purposes.
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