Uranium Energy Corp.
Uranium Energy Corp Provides Update on UEX holdings
Corpus Christi, TX, June 30, 2022 - Uranium Energy Corp (NYSE American: UEC, the “Company” or “UEC”) is pleased to provide an update on its holdings of common shares of UEX Corporation (“UEX”). The Company has acquired 6,844,000 UEX common shares through the facilities of the TSX at an average cost of C$0.3601 per UEX common share. When added to the 11,627,907 UEX common shares acquired by private placement on June 22, 2022 at a price of C$0.43 per share (the “Private Placement”), UEC now holds a total of 18,471,907 UEX common shares (approximately 3.32% of the shares currently outstanding).
On June 13, 2022, UEC announced that it had entered into a definitive agreement with UEX pursuant to which it is to acquire all of the issued and outstanding common shares of UEX in an all-share transaction by way of statutory plan of arrangement (the “Transaction”). The Private Placement was completed in connection with the Transaction. In announcing the closing of the Private Placement, UEC announced its intention to acquire additional UEX common shares by making purchases through the facilities of the TSX.
These additional UEX common shares are being held by UEC for investment purposes and in furtherance of the Transaction. UEC may, from to time, dependent on market or other conditions, and subject to applicable securities laws, either increase or decrease its beneficial ownership in the common shares of UEX. UEC will continue to provide periodic updates in respect of any UEX common share purchases made.
Uranium Energy Corp