OTTAWA (dpa-AFX) - Uranium Energy Corp. (UEC) said Thursday it has completed the acquisition of a South Texas uranium database package from Uranium One (UUU.TO).
As part of the deal, Uranium Energy has issued 159,236 common shares of the company at a price of $3.14 and has paid $400,000 in cash to complete the purchase of this 'strategic database which will significantly advance its ongoing exploration efforts in South Texas.'
The Database is an evaluation of the uranium potential within the Goliad Formation located along the South Texas Uranium Belt, an area extending from south of Houston to the Mexican border.
Uranium Energy said it is incorporating this Database and the associated acquisition and exploration targets into its ongoing efforts to develop additional uranium sources for processing at the Hobson plant. The Database contains over 2.8 million feet of drilling results and 40 uranium targets that the company plans to evaluate.
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