SYDNEY, Australia, March 18, 2019 (GLOBE NEWSWIRE) -- The Pacific Road Resources Funds (“PRRF”) announce that PRRF has entered into an agreement with Uranium Energy Corp. (“UEC”) pursuant to which PRRF exchanged its 11,000,000 warrants to acquire shares of common stock of UEC (“Warrants”) for an aggregate of 750,000 shares of common stock of UEC. The shares of common stock were issued at a deemed issue price of US$1.35 per share.
As a result of the exchange of Warrants, PRRF now holds an aggregate of 9,614,370 shares of common stock of UEC, which represent approximately 5.33% of the outstanding shares of common stock.
The Offeror disposed of its Warrants for investment purposes and anticipates in the future, depending on market conditions, general economic and industry conditions, the Corporation’s business and financial condition and/or other relevant factors, disposing of some or all of its shares of UEC common stock over the facilities of NYSE American, through private transactions or otherwise. In addition, the Offeror may develop other plans or intentions in the future relating to one or more of the above items.
A copy of the early warning report filed in connection with the investment will be available on the Corporation’s profile on SEDAR at www.sedar.com or may be obtained by contacting Adrian Martin at +61 2 9241 1000.
About Pacific Road Resources Funds and Pacific Road Capital Management Pty Limited
The Pacific Road Resources Funds are private equity funds investing in the global mining industry. They provide expansion and buyout capital for mining projects, mining related infrastructure and mining services businesses located throughout resource-rich regions of the world. The Pacific Road Resources Funds are managed and advised by Pacific Road Capital Management Pty Ltd (“PRCM”). The PRCM team, located in Sydney, Australia, is comprised of experienced mining investment professionals that have extensive knowledge and experience in the mining sector, including considerable operating, project development, transactional and investment banking experience. For further information on the Pacific Road Resources Funds and PRCM, please go to their website at www.pacroad.com.