UR-Energy To Conduct $13.3 Million Financing

UR-Energy (TSX: URE) (NYSE: URG) this morning announce the pricing of its underwritten public offering, indicating it intends to raise $13.3 million through the sale of units of the company. Funds from the financing will see the company maintain and enhance operation readiness for its Lost Creek in-situ recovery uranium facility in Wyoming.

The financing will see the company sell 14.7 million units of the company at a price of $0.90 per unit. Each unit contains one common share and one half warrant, with each warrant having an exercise price of $1.35 and an expiry of three years from the date of issuance. An over-allotment option has also been granted under the offering.

Proceeds from the financing are to be used for maintaining and enhancing operational readiness, for possible future acquisitions and strategic transactions, and for working capital and general corporate purposes.

The financing is expected to close February 4, 2021.

Ur-Energy last traded at $1.27 on the TSX.

Information for this analysis was found via Sedar and Ur-Energy. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.

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