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Uranium Energy finalises purchase of CUE Resources
Friday 30 March 2012

30 March 2012 – US uranium producer Uranium Energy Corp (NYSEAMEX:UEC) has today wrapped up its all-stock takeover of Canada-based CUE Resources Ltd (CVE:CUE), focused on exploring uranium properties in Paraguay.

Under the terms of the acquisition, UEC will issue nearly 2.35m own common shares to former CUE stockholders plus a further 171,303 units to take care of certain debts, the buyer said in a press release on Friday. The exact value of the deal remained undisclosed.

The takeover will enable the US firm to consider carrying out its hub-and-spoke production strategy, president and CEO Amir Adnani said.

Dundee Securities Ltd consulted UEC in this transaction.

The Canadian firm owns 100% legal and beneficial interest of the Yuty ISR project as well as in certain concession contracts covering the 230,650-hectare (570,100-acre) uranium exploration property, which situated in southeastern Paraguay.
Date Published: 30/03/2012
Target: CUE Resources Ltd
Country: Canada
Sector: Metals/Mining
Buyer: Uranium Energy Corp
Buyer Advisor: Dundee Securities Ltd