Uranium Energy Corp Closes Acquisition of Uranium One Americas.
MANews-(C)2009-2021
US-based uranium mining and exploration company Uranium Energy Corp. (NYSE American: UEC) has closed a share purchase agreement with Uranium One Investments Inc., a subsidiary of Uranium One Inc, to acquire all the issued and outstanding shares of Uranium One Americas, Inc. for a total purchase price comprised of USD 112m in cash and the replacement (with corresponding payments to the seller) of USD 19m in reclamation bonding, the company said.
Uranium One is the world's fourth largest uranium producer and part of Russia's State Atomic Energy Corp., Rosatom.
According to the company, the acquisition is fully funded with UEC's existing balance sheet, which as of October 26, 2021 had over USD 235m of cash and market value liquid assets.
The U1A assets are primarily situated in the Powder River Basin of Wyoming; the most productive in-situ recovery uranium mining district in the western hemisphere.
The company said the deal positions UEC, a US corporation headquartered in Texas, as the largest American uranium mining company, amid a new era of domestic and global support for clean-air nuclear energy as essential to the realization of a low-carbon global economy.
It also creates Wyoming hub-and-spoke operations for UEC, anchored by U1A's Irigaray plant which is one of the largest central processing facilities in the United States with a licensed capacity of 2.5m pounds U3O8 per year.
The deal incorporates U1A's production-ready assets including Christensen Ranch ISR Project with four fully installed wellfields, and six additional permitted or development-stage satellite ISR projects, combining with UEC's Reno Creek Project.
The Ludeman Project is located in Converse County, Wyoming, and is comprised of the former...
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