Uranerz Energy Announces Upsizing Of Offering To $12.0 Mln - Quick Facts

(RTTNews) - Uranerz Energy Corp. (URZ, URZ.TO) announced that due to demand, it has increased the size of its previously announced offering of units on July 16, 2014 to raise gross proceeds of $12 million consisting of 9.60 million units of the Company at a price per unit of $1.25.

Each Unit will be comprised of one share of the Company's common stock , and one half of one common share purchase warrant, with each whole warrant exercisable to purchase one additional Common Share for a period of 30 months following the closing of the Offering at an exercise price of $1.60, subject to adjustment and acceleration provisions. The Warrants will be transferable, however, the Company will not apply for listing of the Warrants on any securities exchange.

Closing of the Offering is anticipated to take place on July 25, 2014, subject to satisfaction of the conditions to closing set forth in an Agency Agreement, including receipt of approval of the NYSE MKT LLC and the Toronto Stock Exchange.

The company anticipates that the net proceeds from the offering will be utilized to continue development and operations of mining facilities, including wellfields, at the Company's Nichols Ranch ISR Uranium Project. Additionally, proceeds will be used for working capital and other general corporate purposes.