URI majority shareholder vows support for merger with Anatolia

Uranium Resources, Inc.'s (URI) and Anatolia Energy Limited said on Wednesday that URI majority shareholder Resource Capital Fund V L.P. (RCF) will vote to support a proposed URI-Anatolia merger.

RCF said it is satisfied with the due diligence tied to the merger plan  and is evaluating financing options for Anatolia’s Temrezli Project. RCF said it would offer its own options if the project is viable.

"The satisfaction of the RCF Matters is a significant milestone in the implementation of the merger between URI and Anatolia," Paul Cronin, managing director and CEO of Anatolia,  said. "We look forward to the continued support of a premier resource financing partner in RCF.”

Currently, RCF owns a 24 percent stake in URI and is a private equity firm that specializes in mining operations. Last week, the company issued a statement that it would waive remaining due diligence, should merger conditions not meet its standards.

“We appreciate the support from RCF to create a stronger, expanded URI," URI President and CEO Chistopher Jones said. "Our work with RCF’s technical experts has served to reinforce our confidence in the Temrezli Project as one of the premier undeveloped high-margin uranium properties in the world. We are pleased to be nearing the shareholder meeting to effect this transformational merger.”