LAKEWOOD, CO, March 8, 2016 /CNW/ - Energy Fuels Inc. (NYSE
MKT:UUUU; TSX:EFR) ("Energy Fuels" or the "Company") is pleased
to announce that it intends to file tonight a preliminary
prospectus supplement in both Canada and the
United States to its Canadian short form base shelf
prospectus and its U.S. registration statement on Form F-10, both
of which were filed on April 9, 2014,
in connection with an overnight marketed public offering (the
"Offering") of units of the Company (the "Units"), with each Unit
comprised of one common share of the Company (each, a "Share") and
one-half of one common share purchase warrant (each, a "Warrant").
The underwriters will have the option, exercisable in whole or in
part until closing of the Offering, to purchase an additional 15%
of the number of Units sold under the Offering, which may be
exercised for Units, Shares, Warrants or a combination
thereof. The Offering is to be effected, if marketing is
successful, on an underwritten basis in all of the provinces of
Canada, except Quebec, and the
United States pursuant to the multijurisdictional disclosure
system. The number of Units to be distributed, the price per Unit
and the exercise price of each Warrant will be determined in the
context of the market with final terms to be determined at the time
of pricing. The Offering is expected to close on or about
March 14, 2016 and will be subject to
a number of conditions, including, without limitation, receipt of
all regulatory approvals.
Cantor Fitzgerald Canada Corporation, Haywood Securities Inc.
and Roth Capital Partners, LLC will act as co-lead underwriters for
the Offering.
The current intention is to use the net proceeds of the Offering
to: (i) continue to fund wellfield construction at the
Company's Nichols Ranch Project in Wyoming; (ii) continue to finance the
previously announced shaft sinking and evaluation at the Company's
high-grade Canyon mine project in Arizona; (iii) fund costs associated with the
proposed acquisition of Mesteña Uranium, LLC announced earlier this
week; (iv) fund the cash portion of the proposed acquisition of the
remaining 40% of the Roca Honda Project announced last week; and
(v) use any remaining funds for general corporate needs and working
capital requirements.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of,
Units, Shares or Warrants in any state or province in which such
offer, solicitation or sale would be unlawful, prior to
registration or qualification under the securities laws of any such
state, province, or other jurisdiction.
The Company has filed a registration statement (including a
prospectus) and a prospectus supplement with the United States
Securities and Exchange Commission ("SEC") for the offering to
which this communication relates. Before you invest, you should
read the prospectus in that registration statement and other
documents the Company has filed with the SEC for more complete
information about the Company and this offering. You may get these
documents for free by visiting EDGAR on the SEC website at
www.sec.gov/edgar.shtml. Alternatively, the Company, any
underwriter or any dealer participating in the offering will
arrange to send you the prospectus, as supplemented, if you request
it by contacting Cantor Fitzgerald Canada Corporation, attention:
Equity Capital Markets, 181 University Avenue, Suite 1500,
Toronto, ON, M5H 3M7, email:
ecmcanada@cantor.com.
About Energy Fuels: Energy Fuels
is a leading integrated US-based uranium mining company, supplying
U3O8 to major nuclear utilities. Energy
Fuels operates two of America's key uranium production centers, the
White Mesa Mill in Utah and the
Nichols Ranch Processing Facility in Wyoming. The White Mesa
Mill is the only conventional uranium mill operating in the U.S.
today and has a licensed capacity of over 8 million pounds of
U3O8 per year. The Nichols Ranch
Processing Facility, acquired in the Company's acquisition of
Uranerz Energy Corporation, is an in situ recovery ("ISR")
production center with a licensed capacity of 2 million pounds of
U3O8 per year. Energy Fuels also has
the largest NI 43-101 compliant uranium resource portfolio in the
U.S. among producers, and uranium mining projects located in a
number of Western U.S. states, including one producing ISR project,
mines on standby, and mineral properties in various stages of
permitting and development. The Company's common shares are
listed on the NYSE MKT under the trading symbol "UUUU", and on the
Toronto Stock Exchange under the trading symbol "EFR".
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING
STATEMENTS
This news release contains certain "Forward Looking
Information" and "Forward Looking Statements" within the meaning of
applicable Canadian and United
States securities legislation, which may include, but is not
limited to, statements with respect to the Offering and the use of
proceeds from the Offering. These forward-looking statements
can be identified by the use of forward-looking terminology such as
"intends", "may," "will," "plans," "believes," "anticipates,"
"expects," "estimates," "predicts," "potential," "continue,"
"opportunity," "goals," or "should". All statements, other
than statements of historical fact, herein are considered to be
forward-looking statements. Forward-looking statements
involve known and unknown risks, uncertainties and other factors
which may cause the Offering not to be successful or the use of
proceeds from the Offering to be different from those expressed by
the forward-looking statements. Factors that could cause such
events to differ from those anticipated in these forward-looking
statements include risks associated with: the Company's ability to
satisfy the conditions to closing of the Offering and to use the
proceeds from the Offering as expected, which could be affected by
many of the risks described under the caption "Risk Factors" in the
Company's Annual Information Form dated March 18, 2015, which is available for review on
SEDAR at www.sedar.com, in its Form 40-F, which is available for
review on EDGAR at www.sec.gov/edgar.shtml and in the
prospectus supplement to be dated the date hereof and which will be
available for review on SEDAR and EDGAR
shortly. Forward-looking statements contained herein are made
as of the date of this news release, and the Company disclaims,
other than as required by law, any obligation to update any
forward-looking statements whether as a result of new information,
results, future events, circumstances, or if management's estimates
or opinions should change, or otherwise. There can be no
assurance that forward-looking statements will prove to be
accurate, as actual results and future events could differ
materially from those anticipated in such
statements. Accordingly, the reader is cautioned not to place
undue reliance on forward-looking statements.
The Company assumes no obligation to update the information
in this communication, except as otherwise required by
law.
SOURCE Energy Fuels Inc.