Uranerz Energy Completes First Sale of Uranium
September 16, 2014 (Source: Marketwired) — Uranerz Energy Corporation (“Uranerz” or the “Company”) (NYSE MKT: URZ) (TSX: URZ) (FRANKFURT: U9E) is pleased to announce its first sale of uranium from the Nichols Ranch ISR Uranium Project located in the Powder River Basin of Wyoming, U.S.A. The Company has sold 75,000 pounds which is a portion of the deliveries Uranerz is expecting to make this year pursuant to long-term contracts it has with its nuclear utility customers.
“This has been a very exciting year thus far,” stated Paul Goranson, Uranerz President and Chief Operating Officer. “Uranerz has completed construction and development of its Nichols Ranch production facility and initial wellfields, started production of uranium, and has now made its first sale of product. We are very pleased to be an active participant in providing domestically produced uranium to U.S. nuclear utilities to fuel their electrical generating stations.”
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Uranerz has three long-term uranium sales agreements with two major U.S. nuclear utilities. The Company is currently making deliveries to satisfy these contracts with shipments of uranium to the ConverDyn Metropolis Works Facility.
Uranerz Energy Corporation is a U.S.-domiciled uranium company. The Company’s Nichols Ranch unit is its first ISR uranium mine. Uranerz controls a large strategic land position in the central Powder River Basin. The Company’s management team has specialized expertise in the ISR uranium mining method and a record of licensing, constructing and operating ISR uranium projects. The Company has entered into three long-term uranium sales contracts with Exelon and one other large nuclear utility for a portion of its planned production.
For further information, please contact Derek Iwanaka, Manager of Investor Relations at 1-800-689-1659 or by email at firstname.lastname@example.org. Alternatively, please refer to the Company’s website at www.uranerz.com, review the Company’s filings with the Securities and Exchange Commission at www.sec.gov, or visit the Company’s profile on SEDAR at www.sedar.com.
This press release may contain or refer to “forward-looking information” and “forward-looking statements” within the meaning of applicable United States and Canadian securities laws, which may include, but are not limited to the statement that 75,000 pounds is a portion of the deliveries Uranerz is expecting to make this year, all statements which are in the future tense or which describe future activities or express intentions or expectations. Such forward-looking statements reflect our current views with respect to future events and are subject to certain risks, uncertainties and assumptions, including, the risks and uncertainties outlined in our most recent financial statements and reports and registration statement filed with the SEC (available at www.sec.gov) and with Canadian securities administrators (available at www.sedar.com). Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, believed, estimated or expected. We do not undertake to update forward-looking statements, except as required by law.