Uranium Energy increases underwritten public offering to $20M
Uranium Energy Corp. is pleased to announce that, due to increased demand, its underwriters have now agreed to purchase 12,613,049 units of the Company, at a price of $1.60 per Unit, with each Unit consisting of one common share of the Company and one-half of one common share purchase warrant for gross proceeds of approximately $20M. Each Warrant will entitle its holder to acquire one common share at an exercise price of $2.05 per Warrant Share exercisable immediately upon issuance and expiring 30 months from the closing of the Offering. The Company anticipates that the net proceeds of the Offering will be used to fund exploration and development expenditures at the Company's projects and for general corporate and working capital purposes. The closing of the Offering is expected to occur on October 3, 2018, subject to customary closing conditions.