Published: April 13, 2016 |

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Uranium Resources, Inc. (URI) has executed a purchase agreement with Aspire Capital Fund, LLC to place up to $12 million in stock with Aspire Capital over a term of 30 months. The purchase agreement with Aspire Capital was executed on Friday, April 8, 2016. 

“With the execution of this purchase agreement, and upon shareholder approval, we will be able to access the capital necessary to fund our work, most importantly those activities directed at bringing the Temrezli Project to a final investment decision,” said Christopher M. Jones, president and chief executive officer.

“Despite an extremely challenging commodity and capital markets environment, we have been able to make important progress to execute the strategy we defined three years ago — that is, to advance the development of low cost, near term production. We are excited about the future of this company as we continue to reduce our costs and bring production nearer in time. We believe that the development of this low-cost ISR project will drive significant future value for our shareholders,” added Jones.

To read more details about this transaction, CLICK HERE

About Uranium Resources
URI is focused on advancing the Temrezli in-situ recovery (ISR) project in central Turkey. URI also controls extensive exploration properties under nine exploration and operating licenses covering approximately 32,000 acres (more than 13,000 ha) with numerous exploration targets, including the potential satellite Sefaatli project, which is 30 miles (48 km) southwest of the Temrezli project. In Texas, the company has two licensed and currently idled processing facilities and approximately 14,000 acres (5,700 ha) of prospective ISR projects. In New Mexico the company controls minerals rights encompassing approximately 190,000 acres (76,900 ha) in the prolific Grants Mineral Belt, which is one of the largest concentrations of sandstone-hosted uranium deposits in the world.  Incorporated in 1977, URI also owns an extensive uranium information database of historic drill hole logs, assay certificates, maps and technical reports for the Western United States.

To stop by Uranium Resources’ website, CLICK HERE

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