Ur-Energy (URG) Reports 9M Share Registered Direct Offering at $0.52/Sh

Ur-Energy Inc. (NYSE: URG) announced today that it has entered into a securities purchase agreement with selected investors providing for the purchase and sale, in a registered direct offering of 9,000,000 common shares and accompanying one-half common share warrants to purchase up to 4,500,000 common shares, at a combined public offering price of $0.52 per common share and accompanying one-half common share warrant, with gross proceeds to Ur-Energy of $4.68 million. The common share warrants will expire two years from the date of issuance and will allow the holders to purchase our common shares at an exercise price of $0.75 per whole common share. Closing of the offering is expected to occur on or about August 4, 2020.

Cantor Fitzgerald & Co. is acting as the sole placement agent in connection with the offering on a "reasonable best efforts" basis.

Ur-Energy anticipates using the net proceeds from the offering to sustain operations, working capital and general corporate purposes.