Uranium energy corp announces acquisition of uex corporation to create the largest diversified north american focused uranium company

Acquisition rationale and highlights: accretive transaction, doubling of uec's uranium resources in world-class, politically stable, uranium mining jurisdictions at only a 13.7% dilution to uec's outstanding shares (1) pro forma uec will have the largest uranium portfolio focused exclusively in the americas, located in proven and stable jurisdictions, and combining diversified u.s. production and canadian development assets recent global events have set in motion long-term structural changes in the supply chains of energy commodities where security of supply and reduction of geopolitical and transportation risk will be key strategic differentiators on the demand side, there is a growing trend by western utilities to secure supplies from uranium projects in politically stable jurisdictions uex portfolio is comprised of 29 uranium projects covering key areas of the producing eastern side and development western side of prolific athabasca basin 5 of the 29 projects are advanced resource stage and already in strong joint-venture partnerships with established uranium miners which allows uec to remain operationally focused in the u.s. while benefiting from a new development pipeline with significant exploration potential in canada uex complements uec's near-term production-ready and brownfield assets in the u.s. with medium and long-term production potential in canada uec maintains its strong balance sheet with over $180 (2) million of cash and liquid assets, with no debt, supporting production readiness and its ability to advance a strengthened project portfolio corpus christi, texas, and saskatoon, sk , june 13, 2022 /prnewswire/ - uranium energy corp. (nyse american: uec) (the "company" or "uec") and uex corporation (tsx: uex), ("uex") are pleased to announce they have entered into a definitive arrangement agreement (the "agreement"), pursuant to which uec will acquire all of the issued and outstanding common shares of uex by way of statutory plan of arrangement (the "arrangement") under the canada business corporations act. under the terms of the agreement, each holder of the common shares of uex (each, a "uex share") will receive 0.0831 of one uec share (each, a "uec share") in exchange for each uex share.
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