Uranium Energy Corp (NYSE American: UEC) has recently completed the acquisition of 107,142,857 common shares of Anfield Energy Inc. for a total consideration of $10.46 million. Following this acquisition, the company now holds a total of 203,415,775 Anfield shares, representing approximately 17.8% of the outstanding shares on a non-diluted basis and approximately 24.2% on a partially diluted basis after assuming the exercise of all warrants held by the company.
Prior to this acquisition, the company owned 96,272,918 Anfield shares and 96,272,918 share purchase warrants, representing approximately 9.3% of the outstanding shares on a non-diluted basis and approximately 17.0% on a partially diluted basis after assuming the exercise of all warrants.
The Anfield shares were acquired by the company for investment purposes, and the company has filed an early warning report in connection with the acquisition under Canadian National Instruments 62-103.
Uranium Energy Corp is described as America’s largest and fastest-growing supplier of uranium, advancing low-cost, environmentally friendly in-situ recovery mining uranium projects in the United States and high-grade conventional projects in Canada. The company's operations include three hub and spoke platforms in South Texas and Wyoming, with a combined licensed production capacity of 12.1 million pounds U3O8 per year.
Furthermore, the company has diversified uranium holdings, including a conventional pipeline of high-grade Canadian projects and a major equity stake in Uranium Royalty Corp.
These figures and developments reflect the company's strategic expansion and increased holdings in Anfield Energy Inc. as it continues to position itself as a significant player in the uranium industry. Following these announcements, the company's shares moved -1.8%, and are now trading at a price of $6.86. Check out the company's full 8-K submission here.
