Uranium Energy Corporation, a uranium mining company in the US, had entered into an agreement to acquire 100% ownership interest in the South Texas Mining Venture, L.L.P. (STMV), a Texas-based uranium mining company.
Online PR News – 21-January-2010 – – Uranium Energy Corporation, a uranium mining company in the US, had entered into an agreement to acquire 100% ownership interest in the South Texas Mining Venture, L.L.P. (STMV), a Texas-based uranium mining company. STMV is currently owned by Everest Exploration Co. and URN Resources Inc with 1% and 99% stake respectively. Uranium Energy Corporation will acquire 99% interest from URN Resources Inc, a subsidiary of Uranium One Inc., by issuing 2.5 million shares of its common stock and acquire the remaining interest by acquiring all of the assets of Everest Exploration in this transaction. Uranium Energy Corporation will issue 0.2 million shares of its common stock and will pay $1 million in cash to acquire 1% asset from Everest. The total transaction towards the acquisition is valued at $11.07 million.
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