Uranium Energy Corp Receives Final State Authorization for Start of Construction at the Goliad ISR Project in South Texas
DGAP-News: Uranium Energy Corp. / Key word(s): Miscellaneous
Uranium Energy Corp Receives Final State Authorization for Start of
Construction at the Goliad ISR Project in South Texas
20.12.2011 / 20:00
---------------------------------------------------------------------
Uranium Energy Corp
NYSE Amex Equities Exchange Symbol - UEC
Uranium Energy Corp Receives Final State Authorization for Start of
Construction at the Goliad ISR Project in South Texas
Corpus Christi, TX - December 20, 2011 - Uranium Energy Corp (NYSE-AMEX:
UEC, the 'Company')
is pleased to announce that the Texas Commission on Environmental Quality
(TCEQ) has issued a Radioactive Material License (RML) to UEC for the
Company's South Texas Goliad ISR Project. The issuance of the RML marks
the conclusion of the state-level permitting. The Company now has all of
the required permits to begin construction at the site, and the procurement
of materials and initial wellfield development will commence shortly.
President and CEO Amir Adnani stated, 'Management is pleased to report the
completion of this major milestone, and to initiate the early steps in the
construction process. When operational, the Goliad project is anticipated
to increase the Company's production in South Texas substantially. We are
grateful to TCEQ for its thorough review and issuance of this final
authorization.'
As announced in previous press releases, an aquifer exemption is required
before uranium recovery activities can be initiated. Aquifer exemptions
are issued jointly by the regional EPA and the State (TCEQ). TCEQ granted
UEC an aquifer exemption earlier this year and filed a request for EPA's
concurrence on May 27, 2011. With the regional EPA's concurrence, UEC can
initiate uranium recovery operations at the site.
About the Goliad In-Situ Recovery (ISR) Project
The Goliad ISR project is one of the Company's four uranium projects (also
referred to as satellite projects) in South Texas and is located 40 miles
east of the Company's Hobson ISR processing facility. The facility at
Hobson forms the basis of the Company's regional operating strategy in the
South Texas Uranium Belt and processes uranium-loaded resins from satellite
projects into a final product commonly known as yellowcake or U3O8.
About Uranium Energy Corp
Uranium Energy Corp. (NYSE-AMEX: UEC) is a U.S.-based uranium production,
development and exploration company operating North America's newest
emerging uranium mine. The Company's fully licensed and permitted Hobson
processing facility is central to all of its projects in South Texas,
including the Palangana in-situ recovery project, which is ramping up
initial production, and the Goliad in-situ recovery project which has been
granted its Mine Permit and is in the final stages of mine permitting for
production. The Company's operations are managed by professionals with a
recognized profile for excellence in their industry, a profile based on
many decades of hands-on experience in the key facets of uranium
exploration, development and mining.
Contact North America: Investor Relations, Uranium Energy Corp:
Toll Free: (866) 748-1030
Fax: (361) 888-5041
E-mail: info@uraniumenergy.com
Stock Exchange Information:
NYSE-AMEX: UEC
Frankfurt Stock Exchange Symbol: U6Z
WKN: AØJDRR
ISN: US916896103
Safe 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
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. 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.
Certain matters discussed in this news release and oral statements made
from time to time by representatives of the Company may constitute
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995 and the Federal securities laws. Although the
Company believes that the expectations reflected in such forward-looking
statements are based upon reasonable assumptions, it can give no assurance
that its expectations will be achieved. Forward-looking information is
subject to certain risks, trends and uncertainties that could cause actual
results to differ materially from those projected. Many of these factors
are beyond the Company's ability to control or predict. 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
press release shall not constitute an offer to sell or the solicitation of
an offer to buy securities.
Important Additional Information Will Be Filed With the SEC
In connection with the previously announced proposed merger (the 'Merger')
between the Company and Concentric Energy Corp. ('Concentric'), the Company
intends to file relevant materials with the United States Securities and
Exchange Commission (the 'SEC'), including a registration statement on Form
S-4 (the 'Registration Statement'), which will include a preliminary
prospectus and related materials to register the securities of the Company
to be issued in exchange for securities of Concentric. The Registration
Statement will incorporate a proxy statement (the 'Proxy Statement') that
Concentric plans to mail to its stockholders in connection with obtaining
stockholder approval of the Merger. The Registration Statement and the
Proxy Statement will contain important information about the Company,
Concentric, the Merger and related matters. Investors and security holders
are urged to read the Registration Statement and the Proxy Statement
carefully when they are available. Investors and security holders will be
able to obtain free copies of the Registration Statement and the Proxy
Statement when they become available, and other documents filed with the
SEC by the Company, through the web site maintained by the SEC at
www.sec.gov. Documents filed by the Company with the SEC may be obtained
free of charge by contacting the Company at: Uranium Energy Corp.;
attention: Mr. Mark Katsumata, CFO; 500 North Shoreline, Suite 800N, Corpus
Christi, Texas, 78401; Tel: (866) 748-1030.
Concentric, and its directors and executive officers, may be deemed to be
participants in the solicitation of proxies from Concentric's stockholders
in connection with the Merger. Information regarding any special interests
of these directors and executive officers in the Merger will be included in
the Proxy Statement.
End of Corporate News
---------------------------------------------------------------------
20.12.2011 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------
150494 20.12.2011
DGAP-News: Uranium Energy Corp. / Key word(s): Miscellaneous
Uranium Energy Corp Receives Final State Authorization for Start of
Construction at the Goliad ISR Project in South Texas
20.12.2011 / 20:00
---------------------------------------------------------------------
Uranium Energy Corp
NYSE Amex Equities Exchange Symbol - UEC
Uranium Energy Corp Receives Final State Authorization for Start of
Construction at the Goliad ISR Project in South Texas
Corpus Christi, TX - December 20, 2011 - Uranium Energy Corp (NYSE-AMEX:
UEC, the 'Company')
is pleased to announce that the Texas Commission on Environmental Quality
(TCEQ) has issued a Radioactive Material License (RML) to UEC for the
Company's South Texas Goliad ISR Project. The issuance of the RML marks
the conclusion of the state-level permitting. The Company now has all of
the required permits to begin construction at the site, and the procurement
of materials and initial wellfield development will commence shortly.
President and CEO Amir Adnani stated, 'Management is pleased to report the
completion of this major milestone, and to initiate the early steps in the
construction process. When operational, the Goliad project is anticipated
to increase the Company's production in South Texas substantially. We are
grateful to TCEQ for its thorough review and issuance of this final
authorization.'
As announced in previous press releases, an aquifer exemption is required
before uranium recovery activities can be initiated. Aquifer exemptions
are issued jointly by the regional EPA and the State (TCEQ). TCEQ granted
UEC an aquifer exemption earlier this year and filed a request for EPA's
concurrence on May 27, 2011. With the regional EPA's concurrence, UEC can
initiate uranium recovery operations at the site.
About the Goliad In-Situ Recovery (ISR) Project
The Goliad ISR project is one of the Company's four uranium projects (also
referred to as satellite projects) in South Texas and is located 40 miles
east of the Company's Hobson ISR processing facility. The facility at
Hobson forms the basis of the Company's regional operating strategy in the
South Texas Uranium Belt and processes uranium-loaded resins from satellite
projects into a final product commonly known as yellowcake or U3O8.
About Uranium Energy Corp
Uranium Energy Corp. (NYSE-AMEX: UEC) is a U.S.-based uranium production,
development and exploration company operating North America's newest
emerging uranium mine. The Company's fully licensed and permitted Hobson
processing facility is central to all of its projects in South Texas,
including the Palangana in-situ recovery project, which is ramping up
initial production, and the Goliad in-situ recovery project which has been
granted its Mine Permit and is in the final stages of mine permitting for
production. The Company's operations are managed by professionals with a
recognized profile for excellence in their industry, a profile based on
many decades of hands-on experience in the key facets of uranium
exploration, development and mining.
Contact North America: Investor Relations, Uranium Energy Corp:
Toll Free: (866) 748-1030
Fax: (361) 888-5041
E-mail: info@uraniumenergy.com
Stock Exchange Information:
NYSE-AMEX: UEC
Frankfurt Stock Exchange Symbol: U6Z
WKN: AØJDRR
ISN: US916896103
Safe 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
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. 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.
Certain matters discussed in this news release and oral statements made
from time to time by representatives of the Company may constitute
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995 and the Federal securities laws. Although the
Company believes that the expectations reflected in such forward-looking
statements are based upon reasonable assumptions, it can give no assurance
that its expectations will be achieved. Forward-looking information is
subject to certain risks, trends and uncertainties that could cause actual
results to differ materially from those projected. Many of these factors
are beyond the Company's ability to control or predict. 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
press release shall not constitute an offer to sell or the solicitation of
an offer to buy securities.
Important Additional Information Will Be Filed With the SEC
In connection with the previously announced proposed merger (the 'Merger')
between the Company and Concentric Energy Corp. ('Concentric'), the Company
intends to file relevant materials with the United States Securities and
Exchange Commission (the 'SEC'), including a registration statement on Form
S-4 (the 'Registration Statement'), which will include a preliminary
prospectus and related materials to register the securities of the Company
to be issued in exchange for securities of Concentric. The Registration
Statement will incorporate a proxy statement (the 'Proxy Statement') that
Concentric plans to mail to its stockholders in connection with obtaining
stockholder approval of the Merger. The Registration Statement and the
Proxy Statement will contain important information about the Company,
Concentric, the Merger and related matters. Investors and security holders
are urged to read the Registration Statement and the Proxy Statement
carefully when they are available. Investors and security holders will be
able to obtain free copies of the Registration Statement and the Proxy
Statement when they become available, and other documents filed with the
SEC by the Company, through the web site maintained by the SEC at
www.sec.gov. Documents filed by the Company with the SEC may be obtained
free of charge by contacting the Company at: Uranium Energy Corp.;
attention: Mr. Mark Katsumata, CFO; 500 North Shoreline, Suite 800N, Corpus
Christi, Texas, 78401; Tel: (866) 748-1030.
Concentric, and its directors and executive officers, may be deemed to be
participants in the solicitation of proxies from Concentric's stockholders
in connection with the Merger. Information regarding any special interests
of these directors and executive officers in the Merger will be included in
the Proxy Statement.
End of Corporate News
---------------------------------------------------------------------
20.12.2011 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------
150494 20.12.2011