Uranerz Energy (URZ) Announces 10M Common Offering at $2/share

October 15, 2009 9:20 AM EDT

Uranerz Energy Corporation (AMEX: URZ) announce that it intends to offer and sell to the public in the United States and Canada an aggregate of up to 10 million units of the Company at a price per unit of $2.00 for gross proceeds of up to $20 million.

The Company anticipates that the net proceeds from the offering will be used: (i) to continue development of commercial mining facilities at the Company's Nichols Ranch project, including site and infrastructure preparations, finalization of mine design and completion of engineering and construction drawings, (ii) for further exploration of the Company's properties in the Powder River Basin, Wyoming, including its Arkose Mining Venture properties, (iii) for the advancement of environmental activities, applications and licenses, including the advancement of the Nichols Ranch federal and state mining applications, and (iv) for acquisitions and further development of acquired properties, working capital requirements and/or for other general corporate purposes.

Dahlman Rose & Company, LLC and Haywood Securities Inc. have agreed to act as co-lead placement agents in relation to the proposed offering of the Units. GMP Securities L.P., Dundee Securities Corporation and Versant Capital Management Inc. will act as syndicate placement agents. The Company has granted the placement agents an option to place up to an additional 1,500,000 Units at the same price, exercisable by Dahlman Rose & Company, LLC and Haywood Securities Inc., on behalf of the placement agents, in whole or in part, at any time up to two business days prior to the closing of the offering.

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