Energy Fuels (NYSE American: UUUU) (TSX: EFR), the largest uranium mining company in the United States, has announced a cash redemption of all outstanding debentures; the redemption will result in the company being debt free by Oct. 6, 2020. To reach this significant milestone, the company announced that it had delivered a notice to holders of currently outstanding debentures, which it plans to redeem on Oct. 6, 2020. The announcement notes that the debentures are redeemable for an amount equal to 101% of their principal amount plus accrued and unpaid interest up to but excluding the redemption date. “Energy Fuels is proud to announce that we are paying off the remainder of our debt and that we will be debt free on October 6, 2020,” Energy Fuels president and CEO Mark S. Chalmers said in the press release. “Many junior uranium producers and developers around the world are currently incurring significant amounts of debt to fund exploration and development activities and to cover corporate overheads. However, without sufficient cash flow, servicing this debt can become extremely burdensome and destructive to shareholder value. Instead, Energy Fuels has focused on cleaning up our balance sheet with minimal impact to our shareholders.”
To view the full press release, visit http://ibn.fm/kkVvY
About Energy Fuels Inc.
Energy Fuels is the leading U.S.-based uranium mining company, supplying U3O8 to major nuclear utilities. The company also produces vanadium from certain of its projects, as market conditions warrant. Its corporate offices are near Denver, Colorado, and all of its assets and employees are in the United States. Energy Fuels holds three of America’s key uranium production centers — the White Mesa Mill in Utah, the Nichols Ranch In-Situ Recovery (“ISR”) Project in Wyoming, and the Alta Mesa ISR Project in Texas. The White Mesa Mill is the only conventional uranium mill operating in the U.S. today, has a licensed capacity of over 8 million pounds of U3O8 per year, and has the ability to produce vanadium when market conditions warrant. The Nichols Ranch ISR Project is on standby and has a licensed capacity of 2 million pounds of U3O8 per year. The Alta Mesa ISR Project is also on standby and has a licensed capacity of 1.5 million pounds of U3O8 per year. In addition to these production facilities, Energy Fuels has one of the largest NI 43-101 compliant uranium resource portfolios in the U.S. and several uranium and uranium/vanadium mining projects on standby and in various stages of permitting and development. The primary trading market for Energy Fuels’ common shares is the NYSE American under the trading symbol “UUUU,” and the company’s common shares are also listed on the Toronto Stock Exchange under the trading symbol “EFR.” For more information, visit the company’s website at www.EnergyFuels.com.
NOTE TO INVESTORS: The latest news and updates relating to UUUU are available in the company’s newsroom at http://ibn.fm/UUUU
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