Skip to main content

InvestorNewsBreaks – Uranium Energy Corp. (NYSE American: UEC) Receives Competing Acquisition Offer

Uranium Energy (NYSE American: UEC)a U.S.-based uranium mining and exploration company, has received a notice from UEX Corporation that Denison Mines Corp. has made an acquisition proposal for all of the issued and outstanding shares of UEX. In addition, UEX advised UEC that its board of directors determined that the Denison proposal is a “superior proposal,” as defined in the arrangement agreement between UEX, UEC and the UEC 2022 Acquisition Corp. last month. According to the announcement, UEX plans to accept the Denison proposal, subject to UEC’s right to match the proposal. The June agreement grants UEC five business days to amend the terms of the arrangement agreement; if UEC chooses not to do so and UEX opts to go with the Denison proposal, UEX will pay UEC a $8.25 million termination fee. “UEC has consistently been disciplined and focused on delivering accretive transactions for our shareholders as exhibited by our successful M&A track record,” said Uranium Energy president and CEO Amir Adnani in the press release. “While the competing offer for UEX validates the merits of this acquisition, since announcing the transaction, there has been significant market deterioration in the sector, and this has created a broader set of growth opportunities that would be highly accretive and strategic in nature. We continue to be in the driver’s seat with our acquisition of UEX; however, we have made no determination as to whether we will choose to match the competing offer. UEC will do a careful analysis to determine whether this or other opportunities we are considering provide the most compelling value for our shareholders.”

To view the full press release, visit https://ibn.fm/K27or

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 in-situ recovery (“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 major permits in place. Additionally, the company has other diversified holdings of uranium assets, including one of the largest physical uranium portfolios of U.S. warehoused U3O8; a major equity stake in the only royalty company in the sector, Uranium Royalty Corp; and 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 

About InvestorWire

InvestorWire is the wire service that gives you more. From regional releases to global announcements presented in multiple languages, we offer the wire-grade dissemination products you’ll need to ensure that your next press release grabs the attention of your target audience and doesn’t let go. While our competitors look to nickel and dime you with hidden fees and restrictive word limits, InvestorWire keeps things transparent.

As part of its service, InvestorWire provides coverage of noteworthy announcements. To further expand visibility of achievements being made throughout a multitude of sectors, InvestorWire’s syndication partners have extended the digital coverage to include individual broadcasts on financial websites and platforms visited by millions of investors daily.

For more information, please visit https://www.InvestorWire.com

Please see full terms of use and disclaimers on the InvestorBrandNetwork website applicable to all content provided by IBN, wherever published or re-published: http://ibn.fm/Disclaimer

InvestorWire (IW)
8033 Sunset Blvd Suite 1037-IW
Los Angeles, CA 90046
310.299.1717 Office
www.InvestorWire.com
Editor@InvestorWire.com

InvestorWire is part of the InvestorBrandNetwork.

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.