Uranium energy corp and rio tinto agree to a transaction on the world-class development-stage roughrider uranium project in canada

Uec to acquire roughrider from rio tinto for total consideration of $150 million comprised of $80 million in cash and $70 million in uec stock cash portion of the consideration is fully funded with uec's $173 million of cash and liquid assets on the balance sheet uec welcomes rio tinto as a new shareholder roughrider acquisition rationale and highlights: world-class project in a premier uranium mining jurisdiction: development-stage roughrider project has a non-current, historic resource of 58 million lbs at an average grade of 4.73% u3o8 situated in the eastern athabasca basin of canada, where 10% of global uranium production was sourced in 2021.(1)(2) unlocking value and immediate synergies with recent uex acquisition: roughrider will be a 100% owned cornerstone asset that when combined with recently acquired uex corporation ("uex") projects in the eastern athabasca, positions uec with a critical mass of resources to enhance future production plans.
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