Uranium Energy (NYSE American: UEC) and UEX Corporation (TSX: UEX) today announced entry into a definitive arrangement agreement, pursuant to which UEC will acquire all of UEX’s issued and outstanding common shares of by way of statutory plan of arrangement under the Canada Business Corporations Act. Under the agreement, each holder of the common shares of UEX will receive 0.0831 of one UEC share in exchange for each UEX share. “UEC’s acquisition of Uranium One Americas Inc. in December 2021 marked the largest M&A transaction in the uranium sector in about a decade. The transaction was highly accretive for the company, and we have seen a very positive response from our shareholders and the marketplace,” said Amir Adnani, president and CEO of UEC. “The strategic acquisition of UEX has the same characteristics and will grow our diversified portfolio in the politically stable and mining friendly jurisdiction of Canada. It also marks the largest North American M&A transaction in the uranium sector following the U1A acquisition. This transaction underscores UEC’s sector-leading strategy as the fastest growing, pure play, 100% un-hedged uranium company with assets only in the Western Hemisphere. As with the U1A acquisition, the purchase price is equal to only 13.7% of the pro forma market capitalization, yet the acquisition is expected to more than double the size of our attributable measured and indicated uranium resources. This opportunity provides entry into two of Canada’s most prospective uranium districts in Saskatchewan and Nunavut, and cements UEC’s position as not only a leading American uranium mining company but a North American one as well.”
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About Uranium Energy Corp.
Uranium Energy is America’s leading, fastest growing, uranium mining company listed on the NYSE American. UEC is a pure play uranium company and is advancing the next generation of low-cost, environmentally friendly ISR mining uranium projects. The company has two production-ready ISR hub-and-spoke platforms in South Texas and Wyoming, anchored by fully licensed and operational processing capacity at the Hobson and Irigaray Processing Plants. UEC also has seven U.S. ISR uranium projects with all of their major permits in place. Additionally, the company has other diversified holdings of uranium assets, including: 1) one of the largest physical uranium portfolios of U.S. warehoused U3O8; 2) a major equity stake in the only royalty company in the sector, Uranium Royalty Corp; and 3) a pipeline of resource-stage uranium projects in Arizona, Colorado, New Mexico and Paraguay. The company’s operations are managed by professionals with a recognized profile for excellence in their industry, a profile based on many decades of hands-on experience in the key facets of uranium exploration, development and mining. For more information about the company, visit www.UraniumEnergy.com.
NOTE TO INVESTORS: The latest news and updates relating to UEC are available in the company’s newsroom at https://ibn.fm/UEC
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