Uranium Energy Corp (NYSE: UEC) announced this morning the closing of its previously announced acquisition of Uranium One Americas, a subsidiary of Uranium One. The transaction’s price tag amounted to $112 million in cash.
Included in the transaction consideration are an additional $2.9 million in estimated working capital and the assumption of $19 million in reclamation bonding.
“With this Acquisition, UEC’s sector-leading U.S. ISR production profile increases to 6.5 million pounds U3O8 per year based on permitted and installed capacity of our Wyoming and South Texas hub-and-spoke operations,” said UEC CEO Amir Adnani.
The firm funded the acquisition using cash on hand, ending with a balance of approximately $120 million in cash and liquid assets following the transaction.
The company also claims that the acquisition makes it “the largest American uranium mining company.”
The acquired portfolio reported in 2019 a mineral resource estimate of 37.65 million U3O8 pounds measured and indicated, and 4.28 million U3O8 pounds inferred.
The energy firm plans to submit a new technical report for the acquired portfolio moving forward.
Uranium Energy Corp last traded at $3.28 on the NYSE.
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