Uranium Energy (UEC) Closes CUE Resources Deal
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Uranium Energy Corp (AMEX: UEC) and CUE Resources Ltd. reports that the acquisition of CUE by way of a plan of arrangement has closed, effective at 12:01 am on March 30, 2012.
Following the completion of the Transaction, CUE is now a wholly-owned subsidiary of UEC. In connection with the Transaction, UEC will issue 2,345,926 UEC common shares to former CUE shareholders as well as 171,303 UEC shares to settle certain debts of CUE. CUE, through its wholly-owned subsidiary, held an undivided 100% legal and beneficial interest in and to certain concession contracts covering a 230,650-hectare uranium exploration property located in southeastern Paraguay known as the Yuty ISR Project.
Following the completion of the Transaction, CUE is now a wholly-owned subsidiary of UEC. In connection with the Transaction, UEC will issue 2,345,926 UEC common shares to former CUE shareholders as well as 171,303 UEC shares to settle certain debts of CUE. CUE, through its wholly-owned subsidiary, held an undivided 100% legal and beneficial interest in and to certain concession contracts covering a 230,650-hectare uranium exploration property located in southeastern Paraguay known as the Yuty ISR Project.
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