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Stock Market & Financial Investment News

News Breaks
December 17, 2012
18:14 EDTURREUranium Resources seeks shareholder approval of reverse stock split
Uranium Resources announced that it has filed a proxy statement to seek shareholder approval of a reverse stock split. The company also announced the closing of $5M in bridge financing with Resource Capital Fund V L.P. and the company's plan to undertake a shareholder rights offering in 2013. In order to regain compliance with NASDAQ's minimum $1.00 bid price requirement and maintain the company's NASDAQ listing, URI's Board has unanimously approved a charter amendment to conduct a reverse stock split. On December 17, URI filed definitive proxy materials with the SEC seeking shareholder approval of the charter amendment that will permit it to conduct a reverse stock split of the company's issued and outstanding common stock, by a ratio of not less than 1-for-5 and not more than 1-for-15, with the final ratio to be determined by the company's Board following shareholder approval. A special meeting of shareholders has been scheduled for January 14, 2013 to vote on the reverse split. The $5M Bridge Financing, which carries an annualized interest rate of 10%, will be used for the advancement of URI's strategic projects and general working capital requirements.
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September 8, 2014
16:13 EDTURREUranium Resources unit to acquire certain uranium assets from Rio Grande
Uranium Resources entered into an Asset Exchange Agreement with Rio Grande Resources Corporation, whereby a wholly owned subsidiary of URRE will acquire from Rio Grande Resources certain uranium properties located in South Texas near URRE’s processing facilities. These properties cover approximately 8,834 acres and include the Alta Mesa Este, Sejita Dome and Butler Ranch projects, which are mid-term, in-situ recovery uranium projects located within approximately 75 miles of either URRE’s Rosita processing plant or Kingsville Dome processing plant. There is no cash nor common stock consideration to effect this land swap agreement. In exchange for the South Texas properties, the company will transfer to Rio Grande Resources two parcels of fee-owned mineral rights and a royalty interest in the Roca Honda area of west-central New Mexico. URRE is retaining certain prospective leases, mining claims and fee-owned mineral interests on separate parcels in the Roca Honda area totaling 3,068 acres, including interests on Sections 8 and 17 as well as the Endy claims over several sections north and east of Energy Fuels Inc.’s Roca Honda uranium deposit. The exchange is subject to satisfaction of customary closing conditions and is expected to close in the fourth quarter of 2014.

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