Ur-Energy Inc. Announces Pricing of Public Offering of Common Shares and Warrants
Ur-Energy Inc. Announces Pricing of Public Offering of Common Shares and Warrants
Littleton, Colorado (ACCESSWIRE – February 16, 2023) Ur-Energy Inc. (NYSE American: URG) (TSX: URE)
(“Ur-Energy”) announced today the pricing of its underwritten public offering of 3 4,000,000 common
shares and accompanying warrants to purchase up to 17,000,000 common shares, at a combined public
offering price of $1.18 per common share and accompanying warrant. The exercise price per whole share
purchasable from the exercise of the warrants will be $1.50 per common share, and the warrants will
expire three years from the date of issuance. Ur-Energy has also granted the underwriters a 30-day option
to purchase up to 5,100,000 additional common shares and/or warrants to purchase up to an aggregate
of 2,550,000 common shares on the same terms. The gross proceeds to Ur -Energy from this offering are
expected to be approximately $40.1 million , before deducting the underwriting discounts and
commissions and other estimated offering expenses payable by Ur- Energy, and assuming no exercise of
the underwriters’ option to purchase additional shares or warrants. The offering is expected to close on
or about February 21, 2023, subject to satisfaction of customary closing conditions. All of the securities in
the offering are to be sold by Ur-Energy.
Cantor Fitzgerald & Co. is acting as the sole book -running manager for the offering. PI Financial Corp.;
Roth Capital Partners; H.C. Wainwright & Co., LLC; and A.G.P. / Alliance Global Partners, LLC are acting as
co-managers for the offering.
Ur-Energy anticipates using the net proceeds from the offering to supplement working capital for ramp -
up at Lost Creek, to maintain operational readiness, for possible future acquisitions or other strategic
transactions and for working capital and general corporate purposes.
The securities described above are being offered by Ur-Energy pursuant to a shelf registration statement
on Form S-3 previously filed with and declared effective by the Securities and Exchange Commission (the
"SEC") on December 17, 2021. A preliminary prospectus supplement and the accompanying prospectus
relating to the securities being offered have been filed with the SEC on February 15, 2023 and are available
on the SEC's website at http://www.sec.gov. A final prospectus supplement will be filed with the SEC and
will be available on the SEC's website at http://www.sec.gov. Copies of the final prospectus supplement
(when available) and accompanying prospectus may be obtained from Cantor Fitzgerald & Co., Attention:
Capital Markets, 499 Park Ave., 6th Floor, New York, New York 10022, or by telephone at 212-829-7122,
or by e-mail at [email protected].
This announcement is neither an offer to sell, nor a solicitation of an offer to buy, any of these securities
and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such offer,
solicitation or sale is unlawful. Offers will be made only by means of the prospectus supplement and
accompanying prospectus forming a part of the effective registration statement.
About Ur-Energy:
Ur-Energy is a uranium mining company operating the Lost Creek in-situ recovery uranium facility in south-
central Wyoming. We have produced and packaged approximately 2. 7 million pounds U 3O8 from Lost
Creek s ince the commencement of operations. Ur -Energy has all major permits and authorizations to
begin construction at Shirley Basin, the Company’s second in situ recovery uranium facility in Wyoming
and is in the process of obtaining remaining amendments to Los t Creek authorizations for expansion of
Lost Creek. Ur-Energy is engaged in uranium recovery and processing activities, including the acquisition,
exploration, development, and operation of uranium mineral properties in the United States. The primary
trading market for Ur- Energy’s common shares is on the NYSE American under the symbol “URG.”
Ur-Energy’s common shares also trade on the Toronto Stock Exchange under the symbol “URE.”
Ur-Energy’s corporate office is in Littleton, Colorado and its registered office is in Ottawa, Ontario.
Cautionary Note Regarding Forward-Looking Statements:
This release may contain “forward -looking statements” within the meaning of applicable securities laws
regarding events or conditions that may occur in the future ( e.g., closing date of the proposed offering
and the use of proceeds from the offering) and are based on current expectations that, while considered
reasonable by management at this time, inherently involve a number of significant business, economic
and competitive risks, uncertainties and contingencies. Factors that could cause actual results to differ
materially from any forward -looking statements include, but are not limited to, satisfaction of the
conditions to closing of the offering, delays in obtaining req uired stock exchange or other regulatory
approvals, commodity price volatility, the impact of general business and economic conditions, as well as
other factors described in the public filings made by Ur -Energy at www.sedar.com and www.sec.gov.
Readers should not place undue reliance on forward-looking statements. The forward-looking statements
contained herein are based on the beliefs, expectations and opinions of management as of the date hereof
and Ur-Energy disclaims any intent or obligation to update t hem or revise them to reflect any change in
circumstances or in management’s beliefs, expectations or opinions that occur in the future.
For further information, please contact:
John W. Cash, Chair and CEO
866-981-4588, ext. 303