LAKEWOOD, CO, Dec. 29, 2017 /PRNewswire/ - Energy Fuels
Inc. (NYSE American:UUUU; TSX:EFR) ("Energy Fuels" or the
"Company"), a leading producer of uranium in the United States, is pleased to announce
that today the Company has amended its sales agreement with Cantor
Fitzgerald & Co. and filed a prospectus supplement to its
effective U.S. registration statement on Form S-3 in order to renew
its 'at-the-market' program ("ATM"). Under the renewed ATM
program the Company may, at its discretion from time to time, sell
up to $30 million of common shares,
with sales only being made on the NYSE American at then-prevailing
market prices, or any other existing trading market of the common
shares in the United States. The prospectus supplement and
the accompanying base prospectus relating to this offering have
been filed with the U.S. Securities and Exchange Commission ("SEC")
and are available on the SEC's website at www.sec.gov. Copies
of the prospectus supplement and the accompanying base prospectus
relating to this offering, when available, may be obtained from
Cantor Fitzgerald & Co., Attention: Equity Capital
Markets, 110 East 59th Street, New York, New York, 10022, telephone: (212)
829-7122.
In the event the ATM is utilized, the Company intends to use the
net proceeds to provide the Company with additional financial
flexibility and enhanced options with respect to any or all of the
following: (i) to continue to pursue additional
revenue-generating activities at the White Mesa Mill, including
alternate feed material processing and land clean-up activities;
(ii) to continue to finance evaluation of the high-grade uranium
and copper mineralization at the Company's Canyon Mine, including
further evaluation of processing options at the White Mesa Mill for
the copper resources; (iii) to fund wellfield construction at the
Company's Nichols Ranch ISR Project in Wyoming, as market conditions warrant; (iv) to
continue permitting the Company's projects, including Roca Honda; (v) to repay principal on
outstanding indebtedness; and/or (vi) for general corporate needs
and working capital requirements.
About Energy Fuels: Energy Fuels is a
leading integrated US-based uranium mining company, supplying
U3O8 to major nuclear utilities. Energy
Fuels holds three of America's key uranium production centers, the
White Mesa Mill in Utah, the
Nichols Ranch Processing Facility in Wyoming, and the Alta Mesa Project in
Texas. The White Mesa Mill is the only conventional uranium
mill operating in the U.S. today and has a licensed capacity of
over 8 million pounds of U3O8 per year.
The Nichols Ranch Processing Facility is an ISR production center
with a licensed capacity of 2 million pounds of
U3O8 per year. Alta Mesa is an ISR production center currently
on care and maintenance. Energy Fuels also has the largest NI
43-101 compliant uranium resource portfolio in the U.S. among
producers, and uranium mining projects located in a number of
Western U.S. states, including one producing ISR project, mines on
standby, and mineral properties in various stages of permitting and
development. The Company also produces vanadium as a
co-product of its uranium production from certain of its mines on
the Colorado Plateau, as market conditions warrant. The
Company's common shares are listed on the NYSE American under the
trading symbol "UUUU", and on the Toronto Stock Exchange under the
trading symbol "EFR".
Cautionary Note Regarding Forward-Looking
Statements: Certain information contained in this
news release, including any information relating to: the
Company being a leading producer of uranium in the U.S.; any
expectations about potential revenue-generating activities at the
White Mesa Mill; any expectations relating to evaluation of the
Company's resources or processing options at the White Mesa Mill;
any expectations about permitting any of the Company's projects;
any expectations about improvements in market conditions; the
successful utilization of the ATM; the use of proceeds from the
ATM; and any other statements regarding Energy Fuels' future
expectations, beliefs, goals or prospects; constitute
forward-looking information within the meaning of applicable
securities legislation (collectively, "forward-looking
statements"). All statements in this news release that are
not statements of historical fact (including statements containing
the words "expects", "does not expect", "plans", "anticipates",
"does not anticipate", "believes", "intends", "estimates",
"projects", "potential", "scheduled", "forecast", "budget" and
similar expressions) should be considered forward-looking
statements. All such forward-looking statements are subject
to important risk factors and uncertainties, many of which are
beyond Energy Fuels' ability to control or predict. A number
of important factors could cause actual results or events to differ
materially from those indicated or implied by such forward-looking
statements, including without limitation factors relating to: the
Company being a leading producer of uranium in the U.S.; any
expectations about potential revenue-generating activities at the
White Mesa Mill; any expectations relating to evaluation of the
Company's resources or processing options at the White Mesa Mill;
any expectations about permitting any of the Company's projects;
any expectations about improvements in market conditions; the
successful utilization of the ATM; the use of proceeds from the
ATM; and other risk factors as described in Energy Fuels'
most recent annual report on Form 10-K and quarterly financial
reports. Energy Fuels assumes no obligation to update
the information in this communication, except as otherwise required
by law. Additional information identifying risks and
uncertainties is contained in Energy Fuels' filings with the
various securities commissions which are available online at
www.sec.gov and www.sedar.com. Forward-looking statements are
provided for the purpose of providing information about the current
expectations, beliefs and plans of the management of Energy Fuels
relating to the future. Readers are cautioned that such
statements may not be appropriate for other purposes. Readers
are also cautioned not to place undue reliance on these
forward-looking statements, that speak only as of the date
hereof.
SOURCE Energy Fuels Inc.