MCLEAN, Va., Oct. 27, 2009 (GLOBE NEWSWIRE) -- Lightbridge Corporation (Nasdaq:LTBR), the leading developer of non-proliferative nuclear fuel technology and provider of comprehensive advisory services for civil nuclear energy programs, today announced the filing of a Form S-3 shelf registration statement with the Securities and Exchange Commission ("SEC"). Once the shelf registration statement is declared effective by the SEC, the Company may offer and sell, from time to time in the future, up to $50 million of its securities.
The securities may be offered in one or more offerings, and at prices subject to prevailing market conditions to be set forth in a supplemental prospectus filing with the SEC at the time of such offering, should such an offering occur.
This registration statement will provide the Company with additional flexibility to raise capital, depending on favorable market conditions. At present, however, Lightbridge does not currently have any commitments to sell securities. Unless otherwise specified in the applicable prospectus supplement, the net proceeds from any offering under the registration statement would be used for general corporate purposes, including working capital for development and commercialization of the company's non-proliferative nuclear fuel technology. The Company could not have filed this shelf registration prior to the NASDAQ listing and management believes this action is appropriate to allow the Company to avail itself to options for potential equity funding in the future.
No securities may be sold, and no offers to purchase securities, under the registration statement may be accepted until the registration statement is declared effective by the SEC. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Lightbridge Corporation
Lightbridge is a U.S. nuclear energy company based in McLean, VA. with operations in Abu Dhabi, Moscow and London. The Company develops non-proliferative nuclear fuel technology and provides comprehensive advisory services for established and emerging nuclear programs based on a philosophy of transparency, non-proliferation, safety and operational excellence. Lightbridge's breakthrough fuel technology is establishing new global standards for safe and clean nuclear power and leading the way towards a sustainable energy future. Lightbridge consultants provide integrated strategic advice and expertise across a range of disciplines including regulatory affairs, nuclear reactor procurement and deployment, reactor and fuel technology and international relations. It leverages those broad and integrated capabilities by offering their services to commercial entities and governments with a need to establish or expand nuclear industry capabilities and infrastructure.
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