Uranium Resources (URRE) Receives $0.25M Extension Payment from Laramide Resources

October 24, 2016 8:11 AM EDT
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Uranium Resources, Inc. (URI) (Nasdaq: URRE) announced that it has received the cash extension payment of $250,000 from Laramide Resources Ltd. (Laramide) for Laramide’s purchase of URI’s Churchrock and Crownpoint properties in New Mexico scheduled to close no later than November 30, 2016, subject to customary closing conditions. The $250,000 payment will be treated as a pre-payment of the $12.5 million purchase price once the transaction closes.

Christopher M. Jones, President and Chief Executive Officer, said “We appreciate Laramide’s payment, which confirms its willingness to close our transaction by November 30th. The URI management team has secured all necessary approvals for the deal and has the required paperwork in place to close. We look forward to working with Laramide to finalize this transaction.”

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