The over-allotment option was granted in conjunction with the Company’s public offering of 23,809,500 shares completed on June 25, 2010. With the exercise of the over-allotment option, a total of 27,142,830 shares of common stock were sold in the offering with net proceeds to URI of approximately $10.4 million, after deducting underwriting discounts and commissions and estimated offering expenses. The Company plans to use the proceeds for general corporate purposes, which may include making additions to URI’s working capital and funding future acquisitions.
– By Mark McFadden –
Uranium Resources, Inc. (NASDAQ: URRE) (“URI”) has announced that Roth Capital Partners, the sole manager of its recent public offering of common stock, has fully exercised their over-allotment option and have purchased an additional 3,333,330 shares at a price of $0.42 per share. The sale of the additional shares has closed.
The over-allotment option was granted in conjunction with the Company’s public offering of 23,809,500 shares completed on June 25, 2010. With the exercise of the over-allotment option, a total of 27,142,830 shares of common stock were sold in the offering with net proceeds to URI of approximately $10.4 million, after deducting underwriting discounts and commissions and estimated offering expenses. The Company plans to use the proceeds for general corporate purposes, which may include making additions to URI’s working capital and funding future acquisitions.
The offering was made pursuant to a shelf registration statement on Form S-3 filed with the Securities and Exchange Commission on May 7, 2010, which became effective on May 21, 2010. Copies of the final prospectus supplement dated June 21,2010, as supplemented by the Sticker Prospectus Supplement dated July 2, 2010, filed with the Securities and Exchange Commission (the “SEC”), may be obtained for free by visiting EDGAR on the SEC Web site at www.sec.gov, or by contacting:
Roth Capital Partners
By Email: rothecm@roth.com
By Fax: 949.720.7227
Or by mail:
24 Corporate Plaza Drive
Newport Beach, CA 92660
ATTN: Equity Capital Markets
Uranium Resources Inc. explores for, develops and mines uranium. Since its incorporation in 1977, URI has produced over 8 million pounds of uranium by in-situ recovery (ISR) methods in the state of Texas where the Company currently has ISR mining projects. URI also has 183,000 acres of uranium mineral holdings and 101.4 million pounds of in-place mineralized uranium material in New Mexico, as well as a NRC license to produce up to 1 million pounds of uranium. The Company acquired these properties over the past 20 years along with an extensive information database of historic mining logs and analysis. None of URI’s properties is currently in production.
URI’s strategy is to fully exploit its resource base in New Mexico and Texas, expand its asset base both within and outside of New Mexico and Texas, partner with larger mining companies that have undeveloped uranium or with junior mining companies that do not have the mining experience of URI, as well as provide restoration expertise to those that require the capability or lack the proficiency.