At the time the Merger Agreement was entered into, URI also entered into an investment agreement with RCF pursuant to which RCF provided $10 million in funding to URI in March 2012 through the purchase of 10.3 million shares of URI’s common stock, and provided URI an option to receive an additional $5 million in funding following the closing of the merger through the sale of additional shares of URI’s common stock.URI has exercised the $5 million option with RCF, with the sale expected to close this week. The share price is based off the volume weighted average trading price of URI common stock on the NASDAQ Capital Market for the 20 trading days prior to the closing of the merger. Upon completion of the $5 million in financing, URI will have 158.7 million shares outstanding, with RCF beneficially owning approximately 28.1% of the outstanding shares of URI common stock.
Uranium Resources Announces Closing Of Neutron Energy Acquisition
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