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Uranium Resources, Inc.
Announces Exercise and Closing of Over-Allotment Option for Recent Public Offering
LEWISVILLE, TX, November 5, 2010 --- Uranium Resources, Inc.
(NASDAQ: URRE) (“URI”) announced today that Roth Capital Partners, the sole manager of its recent underwritten registered offering of common stock, has fully exercised their over-allotment option and have purchased an additional 1,072,500 shares at a price of $1.16 per share. The sale of the additional shares closed today.
The over-allotment option was granted in conjunction with the Company’s underwritten registered offering of 7,150,000 shares completed on November 3, 2010. With the exercise of the over-allotment option, a total of 8,222,500 shares of common stock were sold in the offering with net proceeds to URI of approximately $9.0 million, after deducting underwriting discounts and commissions and estimated offering expenses. The Company plans to use the proceeds for general corporate purposes and to fund potential future acquisitions.
The offering was made pursuant to a shelf registration statement on Form S-3 filed with the Securities and Exchange Commission on May 7, 2010, which became effective on May 21, 2010.
Copies of the final prospectus supplement filed with the Securities and Exchange Commission (the “SEC”) may be obtained by visiting the SEC Web site at www.sec.gov, or by contacting:
Roth Capital Partners
By Email:
By Fax: 949.720.7227
Or by mail:
24 Corporate Plaza Drive
Newport Beach, CA 92660
ATTN: Equity Capital Markets
About Uranium Resources, Inc.
Uranium Resources Inc.
explores for, develops and mines uranium. Since its incorporation in 1977, URI has produced over 8 million pounds of uranium by in-situ recovery (ISR) methods in the state of Texas where the Company currently has ISR mining projects. URI also has 183,000 acres of uranium mineral holdings and 101.4 million pounds of in-place mineralized uranium material in New Mexico, as well as a NRC license to produce up to 1 million pounds of uranium. The Company acquired these properties over the past 20 years along with an extensive information database of historic mining logs and analysis. None of URI’s properties is currently in production.
URI’s strategy is to fully exploit its resource base in New Mexico and Texas, expand its asset base both within and outside of New Mexico and Texas, partner with larger mining companies that have undeveloped uranium or with junior mining companies that do not have the mining experience of URI, as well as provide restoration expertise to those that require the capability or lack the proficiency.
Uranium Resources routinely posts news and other information about the Company on its Web site at www.uraniumresources.com.
