Energy Fuels Announces Completion of C$8.1 Million Private Placement

NOT FOR DISTRIBUTION TO US NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED
STATES


Energy Fuels Inc. (TSX:EFR) ("Energy Fuels" or the "Company") is pleased to
announce the closing of the previously announced private placement of
subscription receipts (the "Private Placement"). A total of 35,500,500
non-transferable subscription receipts ("Subscription Receipts") were issued by
the Company at a price of C$0.23 per Subscription Receipt for total gross
proceeds of C$8,165,115 pursuant to an agency agreement with Dundee Securities
Ltd. (as lead agent), Haywood Securities Inc., Scotia Capital Inc. and Versant
Partners Inc. dated June 21, 2012. The agents' option to sell additional
Subscription Receipts was exercised in full.


The net proceeds of the Private Placement will be placed into escrow pending
release upon the satisfaction of certain conditions relating to the previously
announced transaction with Denison Mines Corp. anticipated to close on June 29,
2012.


Upon satisfaction of the escrow release conditions, each Subscription Receipt
will be exchanged for one common share of the Company and one-half of one common
share purchase warrant. Each whole warrant will entitle the holder to purchase
one additional common share of the Company at a price of C$0.265 until June 22,
2015. If the escrow release conditions are not satisfied on or before July 31,
2012, the escrowed funds together with interest earned thereon will be returned
to the holders of the Subscription Receipts and the Subscription Receipts will
be cancelled.


All securities issued in connection with the Private Placement are subject to a
statutory hold period which expires October 22, 2012.


About Energy Fuels:  

Energy Fuels Inc. is a uranium and vanadium mineral development company. The
Company recently acquired Titan Uranium Inc., including the Sheep Mountain
Project in the Crooks Gap District of Wyoming. 


With about 61,000 acres of highly prospective uranium and vanadium properties
located in the states of Colorado, Utah, Arizona, Wyoming, and New Mexico, and
exploration properties in Saskatchewan's Athabasca Basin totaling approximately
32,000 additional acres, the Company has a full pipeline of additional
development prospects. Energy Fuels, through its wholly-owned subsidiaries,
Energy Fuels Resources Corporation, Titan Uranium Inc., and Magnum Uranium
Corp., has assembled this property portfolio along with a first class management
team, including highly skilled technical mining and milling professionals based
in Lakewood and Naturita, Colorado and Kanab, Utah.


This news release and the information contained herein does not constitute an
offer of securities for sale in the United Sates. The securities have not been
and will not be registered under the United States Securities Act of 1933, as
amended, and may not be offered or sold in the United States absent registration
or an applicable exemption from such registration requirements.

Energy Fuels (TSX:EFR)
Graphique Historique de l'Action
De Juin 2024 à Juil 2024