Uranium Energy raises UEX takeover offer, says now superior to Denison

Aug. 05, 2022 6:12 PM ETUranium Energy Corp. (UEC), UEXCF, DNNBy: Carl Surran, SA News Editor9 Comments


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Uranium Energy (NYSE:UEC) said late Friday that it is submitting a revised offer to UEX Corp. (OTCQB:UEXCF) of 0.0890 of one common share of UEC for each UEX share held.

Uranium Energy (UEC) said the offer is valued at C$0.49 per UEX share based on Friday's closing prices in New York and Toronto, and is "superior to the Denison proposal in all respects."

The company said its revised offer is a 7% improvement over the original exchange ratio and higher financial consideration than the Denison (NYSE:DNN) offer.

UEX (OTCQB:UEXCF) shareholders are scheduled to vote on Uranium Energy's (UEC) proposed acquisition on August 9.

Last week, Denison Mines (DNN) made an offer to UEX (OTCQB:UEXCF) in the hope of consolidating 100% ownership in its flagship Wheeler River project.

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