Uranium Energy to raise up to 8m USD
The uranium explorer is set to raise money through a new private offering.
Uranium Energy (NYSEMKT: UEC) -3.1% after close of business following the announcement of a public offering of units at $ 1.20 each, with each unit consisting of one common share and one-half warrant for one share at an exercise price of 1. $ 80.
The company plans to use the anticipated proceeds of ~ $ 8 million to fund exploration and development of its projects and for general corporate and working capital purposes.
Uranium energy and other uranium stocks posted strong gains this week after the U.S. government secured an agreement from Russia to extend restrictions on uranium imports from Russia to the U.S. through 2040.