This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Uranium Resources Announces Results Of Rights Offering

Uranium Resources, Inc. (NASDAQ: URRE) (URI) announced today the preliminary results of its non-transferable rights offering, which expired at 5:00pm ET on February 27, 2013. The Company estimates it will receive gross proceeds of approximately $8.7 million, before expenses, from the shareholder rights offering, which is to be used to satisfy a $5.0 million bridge loan and for general working capital.

The rights offering is expected to result in the issuance of 3.4 million additional shares of URI common stock, which would represent approximately 67% of the maximum number of common shares available under the rights offering. The results are based upon the subscription for shares received, and remain subject to receipt of final subscription agreements for such shares in accordance with the terms and conditions of the rights offering.

As part of the rights offering, Resource Capital Fund V L.P. (“RCF”) exercised rights to purchase approximately 1.9 million shares of URI common stock pursuant to the previously-announced standby purchase agreement between URI and RCF. RCF will satisfy its $5.0 million subscription by offsetting the purchase against $5.0 million in borrowings owed to it by URI under a bridge loan agreement. Excluding such amount, the Company estimates that it will receive net proceeds from the rights offering of approximately $3.7 million.

URI expects that the rights offering will close on March 5, 2013 to accommodate those who exercised their rights using guaranteed delivery procedures. The Company intends to mail new common shares acquired through the rights offering to registered subscribers within 3 business days of the scheduled closing of the offering. Shareholders participating in the over-subscription privilege will be notified individually as to their proportionate allocation of over-subscription shares after the results have been determined.

This news release does not constitute an offer of any securities for sale or a solicitation of an offer to buy any securities.

About Uranium Resources, Inc.

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. URI has over 206,600 acres of uranium mineral holdings and 152.9 million pounds of in-place mineralized uranium material in New Mexico and an NRC license to produce up to 1 million pounds of uranium per year. URI has an additional 1.3 million pounds of in-place mineralized uranium material in Texas and South Dakota. The Company acquired these properties over the past 20 years along with an extensive information database of historic drill hole logs, assay certificates, maps and technical reports.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.74 0.00%
FB $117.58 0.00%
GOOG $693.01 0.00%
TSLA $240.76 0.00%
YHOO $36.60 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs