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NYSE American: UEC
Fiscal 2022 Growth, Balance Sheet, Projects, Resources, and ESG Highlights as of September 29, 2022:
CORPUS CHRISTI, Texas, Sept. 30, 2022 /PRNewswire/ - Uranium Energy Corp (NYSE American: UEC) the "Company" or "UEC") is pleased to report, in accordance with NYSE American requirements, the filing of the Company's annual report on Form 10-K for the fiscal year ended July 31, 2022 with the U.S. Securities and Exchange Commission (the "SEC"). This Form 10-K filing, which includes the Company's audited consolidated financial statements, related notes thereto and management's discussion and analysis, is available for viewing on the SEC's website at http://www.sec.gov/edgar.shtml or on the Company's website at www.uraniumenergy.com.
Amir Adnani, CEO and President stated: "Fiscal 2022 was a truly transformative year for UEC. We invested close to $420 million in growing our Company with two accretive acquisitions, expansion of Physical Portfolio and development of new ISR production capability. Our balance sheet is debt free with $173.3 million in cash and liquid assets, providing the financial strength to advance projects towards production and support further accretive acquisitions. UEC's strategic objective is to continue building and growing the Company to become a leading supplier of low-cost uranium, a green energy fuel, from proven, politically stable and mining friendly jurisdictions."
Mr. Adnani continued: "We have created a unique two-pronged approach with a 100% unhedged market strategy: 1) near term U.S. ISR production; and 2) Canadian high-grade conventional pipeline. Our U.S. ISR portfolio is built around two hub-and-spoke production platforms in Wyoming and Texas, containing America's largest resource bases of fully permitted projects and two fully built and operational processing plants. Wyoming and Texas ISR projects now have over 75 million pounds of Measured and Indicated resources and 25 million pounds of Inferred resources. Our Canadian high-grade conventional business is comprised of 29 projects, 5 of which are advanced resource-stage and already in strong joint-venture partnerships. The projects in Canada's Athabasca Basin are among the highest grades globally for conventional mining."
Mr. Adnani concluded: "The global mega-trends of electrification and decarbonization driven by demand for emission-free electricity have created unprecedented growth and acceptance of nuclear power. The need for safe, 24-7, economic, baseload energy positions nuclear electricity generation as an integral component in the green energy transition. Furthermore, Russia's invasion of Ukraine and Western overdependence on former Soviet Union supply, confirms the need to develop Western supplies of uranium for energy and national security. To that end, our low-cost, permitted U.S. ISR production platforms and Canadian high-grade conventional projects, along with our Physical Portfolio provide secure supply sources for Western uranium demand."About Uranium Energy Corp
Uranium Energy Corp is the fastest growing supplier of the fuel for the green energy transition to a low carbon future. UEC is the largest, diversified North American focused uranium company, advancing the next generation of low-cost, environmentally friendly ISR mining uranium projects in the United States and high-grade conventional projects in Canada. The Company has two production-ready ISR hub and spoke platforms in South Texas and Wyoming. These two production platforms are anchored by fully operational central processing plants and served by seven U.S. ISR uranium projects with all their major permits in place. Additionally, the Company has diversified uranium holdings including: (1) one of the largest physical uranium portfolios of U.S. warehoused U3O8; (2) a major equity stake in Uranium Royalty Corp., the only royalty company in the sector; and (3) a Western Hemisphere pipeline of resource stage uranium projects. The Company's operations are managed by professionals with decades of hands-on experience in the key facets of uranium exploration, development and mining.
Twitter: @UraniumEnergy
Stock Exchange Information:
NYSE American: UEC
Frankfurt Stock Exchange Symbol: U6Z
WKN: AØJDRR
ISN: US916896103Safe Harbor Statement
Except for the statements of historical fact contained herein, the information presented in this news release constitutes "forward-looking statements" as such term is used in applicable United States and Canadian securities laws. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any other statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans, "estimates" or "intends", or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and should be viewed as "forward-looking statements". Such forward looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors include, among others, the actual results of exploration activities, variations in the underlying assumptions associated with the estimation or realization of mineral resources, the availability of capital to fund programs and the resulting dilution caused by the raising of capital through the sale of shares, accidents, labor disputes and other risks of the mining industry including, without limitation, those associated with the environment, delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities, title disputes or claims limitations on insurance coverage. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Many of these factors are beyond the Company's ability to control or predict. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release and in any document referred to in this news release. Important factors that may cause actual results to differ materially and that could impact the Company and the statements contained in this news release can be found in the Company's filings with the Securities and Exchange Commission. For forward-looking statements in this news release, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The Company assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities.
SOURCE Uranium Energy Corp