CORPUS
CHRISTI, Texas, Aug. 2, 2022
/CNW/ - Uranium Energy Corp. (NYSE American: UEC), (the
"Company" or "UEC") is pleased to announce it has
submitted an offer to supply the U.S. Department of Energy -
National Nuclear Security Administration ("NNSA") in response to
the U.S. government uranium tender to launch the national Uranium
Reserve. The program was designed as a 10 year, $10 billion plan with $75
million authorized to date for the purchase of uranium and
conversion services.
Amir Adnani, President and CEO
stated: "The NNSA initial purchase goal for one million pounds
marks an important milestone for the beginning of this program. The
NNSA purchases will help jump start our industry and reduce the
country's reliance on uranium from jurisdictions that expose
America to precarious supply risks. Today, those risks include
uranium from Russia, its allies
and increasingly China. Clearly,
domestic supply is critical for U.S. energy and national security.
This was in fact one of the primary drivers behind UEC's
acquisition of Russia's Uranium
One Americas, repatriating this important asset back to U.S.
ownership and control. The acquisition was not only a highly
accretive business transaction, it also increased domestic
capability in the nation's nuclear fuel supply chain. We are
looking forward to the continued improvement in the nuclear fuel
markets and UEC's production to help supply America's uranium
needs."
UEC Chairman and former U.S. Energy Secretary, Spencer Abraham, commented: "We applaud Senator
Barrasso's bill that was discussed in the U.S. Senate Committee on
Energy and Natural Resources hearing last week. His
legislation would prohibit the importation of uranium from the
Russian Federation. While the U.S.
has banned the imports of other Russian energy sources it has not
included nuclear fuel. To ban some energy imports and not others
sends a mixed message, especially considering that import revenues
from Russian uranium sales are helping fund Russia's war in Ukraine."
Secretary Abraham continued: "While Russia's invasion of
Ukraine has garnered outrage from
the international community, many nations find themselves
handcuffed in terms of their ability to respond, due to their
reliance on Russian energy imports. It would be naive to
think that what Russia has done to
the Western European community on gas supplies would not apply to
its exportation of nuclear fuel and uranium. Banning Russian
uranium imports and supporting our domestic nuclear fuel supply
capabilities are solid steps towards bolstering our energy
independence and protecting our national security."
About Uranium Energy
Corp
Uranium Energy Corp is America's leading, fastest growing,
uranium mining company listed on the NYSE American. UEC is a pure
play uranium company and is advancing the next generation of
low-cost, environmentally friendly In-Situ Recovery (ISR) mining
uranium projects. The Company has two production ready ISR hub and
spoke platforms in South Texas and
Wyoming, anchored by fully
licensed and operational processing capacity at the Hobson and Irigaray plants. UEC also has seven
U.S. ISR uranium projects with all of their major permits in
place. Additionally, the Company has other diversified
holdings of uranium assets, including: (1) one of the largest
physical uranium portfolios of U.S. warehoused
U3O8; (2) a major equity stake in the only
royalty company in the sector, Uranium Royalty Corp.; and (3) a
pipeline of resource-stage uranium projects in Arizona, Colorado, New
Mexico and Paraguay. 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.
Stock Exchange Information:
NYSE American: 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, market and other conditions, 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 news release
shall not constitute an offer to sell or the solicitation of an
offer to buy securities.
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SOURCE Uranium Energy Corp