Uranium Energy Corp Files Fiscal 2019 Q2 Report



Corpus Christi, Texas-- Uranium Energy Corporation, which has an operating facility in Corpus Christi, announced this week that the company has completed a Securities Exchange Agreement with the Pacific Road Funds to exchange 11,000,000 outstanding common stock purchase warrants of UEC, for an aggregate of 750,000 common shares of UEC.

"The completion of the Securities Exchange streamlines our capital structure and will benefit our long-term value per share. Separately, an additional 1.9 million warrants have recently been exercised for proceeds of $2.3 million to the Company.  Subsequently, our cash balance has increased to over $22 million,” said UEC President and CEO Amir Adnani.

Analysts feel that the exchange could mean big things for the company, which operates the Goliad in-situ recovery (ISR) uranium Project, situated in Goliad County, as well as several more projects around the world.

“Certainly, it places an already very well financed company in a position to capitalize even greater on their core business components and expansion,” says Gwyn Mullins, a Houston based energy analyst. “I think what we are seeing here is a company working to further their growth and make themselves even more marketable to investors and in fact, being responsible to their stakeholders.”

Mullins says that is a good thing for the company and for the communities in which they operate.
Though the company did finish down on the day 2.84% at $1.37 per share, analysts say that the company could be trying to regain some of the foothold that they once enjoyed in the uranium exploration market.

“We see companies like UEC working to build on the favorable business environment here in Texas and this is a company that focuses well beyond oil and gas,” Mullins noted on Monday.

Pacific Road Capital is a mining private equity investor. The Sydney based company invests globally to build mines and advance exploratory projects.

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