CORPUS CHRISTI, Texas , Dec. 22, 2020 /CNW/ - Uranium Energy Corp (NYSE American: UEC) ("UEC" or the "Company") is pleased to report the U.S. Federal Government omnibus spending bill passed by Congress includes $75 million for initial funding of the 10-year U.S. Uranium Reserve. The language is contained in the Energy & Water appropriations provisions related to Department of Energy's National Nuclear Security Administration programs. This is a very positive step forward for the domestic uranium mining industry with clear bipartisan and bicameral support. The Bill has now passed the full House and Senate, and a Presidential signature is expected soon.
UEC Chairman and former U.S. Energy Secretary, Spencer Abraham , commented: "This key development is a shot in the arm to the uranium mining sector, and we expect to see Washington build on this program and take other appropriate actions to strengthen our sector. It comes on the heels of the 20-year extension of the Russian Suspension Agreement amendment which strengthens the limitations on imports of Russian uranium. This legislation also contains language providing a Congressional backstop to this important trade agreement, protecting American Energy Security. These steps, and other recent bipartisan legislative successes, speak to the importance of nuclear energy, and its uranium fuel cycle, in the generation of baseload, carbon-free energy in the United States ."
About Uranium Energy Corp
Uranium Energy Corp is a U.S.-based uranium mining and exploration company. In South Texas, the Company's hub-and-spoke operations are anchored by the fully-licensed Hobson Processing Facility which is central to the Palangana, Burke Hollow and Goliad ISR projects. In Wyoming , UEC controls the Reno Creek project, which is the largest permitted, pre-construction ISR uranium project in the U.S. Additionally, the Company controls a pipeline of uranium projects in Arizona , New Mexico and Paraguay , a uranium/vanadium project in Colorado and a large, high-grade ferro-titanium project in Paraguay. The Company's operations are managed by professionals with a recognized profile for excellence in their industry, a profile based on many decades of hands-on experience in the key facets of uranium exploration, development and mining.
Stock Exchange Information:
NYSE American: UEC
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Certain matters discussed in this news release and oral statements made from time to time by representatives of the Company may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the Federal securities laws. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved. Forward-looking information is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Many of these factors are beyond the Company's ability to control or predict. Important factors that may cause actual results to differ materially and that could impact the Company and the statements contained in this news release can be found in the Company's filings with the Securities and Exchange Commission. For forward-looking statements in this news release, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The Company assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities.
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SOURCE Uranium Energy Corp
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