Energy Fuels finalizes acquisition of Uranerz Energy

Energy Fuels Inc. has completed its acquisition of Uranerz Energy, the company announced on Thursday.

With this transaction finalized, former Uranerz Executive Chairman and Director Dennis Higgs and the company's former CEO and Director Glenn Catchpole have joined the Energy Fuels board of directors.

“With the completion of our acquisition of Uranerz, Energy Fuels is clearly emerging as a leading integrated producer of uranium in the U.S.," President and CEO of Energy Fuels Stephen Antony said. "We now have competitive ISR and conventional uranium production in our portfolio, the largest NI 43-101 compliant in-ground uranium resource in the U.S. among producers, and the ability to significantly increase uranium production in the future as uranium prices rise. On the marketing side, our combined existing sales contract portfolio positions us very well among U.S. and international nuclear utilities and from a balance sheet perspective we also enjoy a strong working capital position."

The U.S. Nuclear Regulatory Commission has given their approval for this transaction to take place which allowed it to be finalized. As part of the acquisition all shareholders of Uranerz were given .255 Energy Fuels shares in common stock for every share of Uranerz they held.

Energy Fuels specializes in the mining of uranium and acts as a supplier to both domestic and international nuclear facilities.