CORPUS CHRISTI, Texas,
Dec. 22, 2020 /PRNewswire/ -
Uranium Energy Corp (NYSE American: UEC) ("UEC" or the
"Company") is pleased to report the U.S. Federal Government omnibus
spending bill passed by Congress includes $75 million for initial funding of the 10-year
U.S. Uranium Reserve. The language is contained in the Energy &
Water appropriations provisions related to Department of Energy's
National Nuclear Security Administration programs. This is a
very positive step forward for the domestic uranium mining industry
with clear bipartisan and bicameral support. The Bill has now
passed the full House and Senate, and a Presidential signature is
expected soon.
UEC Chairman and former U.S. Energy Secretary, Spencer Abraham, commented: "This key
development is a shot in the arm to the uranium mining sector, and
we expect to see Washington build
on this program and take other appropriate actions to strengthen
our sector. It comes on the heels of the 20-year extension of the
Russian Suspension Agreement amendment which strengthens the
limitations on imports of Russian uranium. This legislation also
contains language providing a Congressional backstop to this
important trade agreement, protecting American Energy
Security. These steps, and other recent bipartisan
legislative successes, speak to the importance of nuclear energy,
and its uranium fuel cycle, in the generation of baseload,
carbon-free energy in the United
States."
About Uranium Energy Corp
Uranium Energy Corp is a U.S.-based uranium mining and
exploration company. In South Texas, the Company's
hub-and-spoke operations are anchored by the fully-licensed Hobson
Processing Facility which is central to the Palangana, Burke Hollow
and Goliad ISR projects. In Wyoming, UEC controls the Reno Creek project,
which is the largest permitted, pre-construction ISR uranium
project in the U.S. Additionally, the Company controls a
pipeline of uranium projects in Arizona, New
Mexico and Paraguay, a
uranium/vanadium project in Colorado and a large, high-grade
ferro-titanium project in 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
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, including statements regarding the
anticipated use of proceeds from the offering. 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.
View original
content:http://www.prnewswire.com/news-releases/united-states-congress-provides-funding-to-establish-the-us--uranium-reserve-and-a-legislative-backstop-for-recently-extended-russian-uranium-import-limits-301197300.html
SOURCE Uranium Energy Corp