LAKEWOOD, CO, Feb. 14, 2018 /PRNewswire/ - Energy Fuels
Inc. (NYSE American: UUUU; TSX: EFR) ("Energy Fuels" or the
"Company") is pleased to announce that, following the recent
appointment of Mark S. Chalmers as
President and Chief Executive Officer ("CEO"), the Company has made
certain changes to its management team. Mr. David C. Frydenlund, the Company's previous
Senior Vice President, General Counsel and Corporate Secretary, has
been appointed Chief Financial Officer ("CFO"), General Counsel and
Corporate Secretary effective as of March 2,
2018. Mr. Frydenlund will replace the Company's current CFO,
Daniel G. Zang, who will be leaving
the Company on March 1, 2018. Mr.
Frydenlund has over 30 years of experience in the legal, financial
and capital markets fields, and has worked in the U.S. uranium
mining industry since 1997, serving in various legal, regulatory
and finance-related capacities, including as CFO of International
Uranium Corporation (now Denison Mines Corp.) from 2000-2005. In
addition, Mr. W. Paul Goranson, the
Company's previous Executive Vice President of Operations, has been
appointed Chief Operating Officer ("COO") of the Company effective
immediately. Mr. Goranson has been with Energy Fuels since
June 2015, with the merger of Uranerz
Energy Corp., and has over 30 years of mining, processing and
regulatory experience in both the conventional and ISR uranium
extraction industries. Finally, the Company's current Controller,
Mr. Matthew J. Tarnowski, has been
appointed Chief Accounting Officer ("CAO") and Controller of the
Company effective immediately. Mr. Tarnowski will continue to
report to Mr. Zang until March 1,
2018, after which time he will report to Mr. Frydenlund. Mr.
Tarnowski has worked with Energy Fuels since June 2011, holding roles of increasing
responsibility on the Company's finance team.
Mark S. Chalmers stated:
"Through these management changes, the Company expects to realize
cost savings by shrinking the size of our executive team, while
also streamlining our management and maintaining a high level of
continuity by promoting individuals from within the organization.
These three individuals have extensive industry experience, and
have each demonstrated exceptional leadership in their respective
roles. We are very fortunate to have this much bench strength in
our management positions. I look forward to continuing to work with
our management team as we continue to grow the Company during these
difficult times. I am particularly excited about several Company
initiatives we are pursuing, including advancing our pending 232
Petition now before the U.S. Department of Commerce, growing our
alternate feed business, securing land cleanup work, evaluating
opportunities in vanadium recovery, and of course maintaining and
advancing our industry leading, U.S.-based uranium production
portfolio."
About Energy Fuels: Energy Fuels is a
leading integrated US-based uranium mining company, supplying
U3O8 to major nuclear utilities. Its
corporate offices are in Denver,
Colorado, and all of its assets and employees are in the
western United States.
Energy Fuels holds three of America's key uranium production
centers, the White Mesa Mill in Utah, the Nichols Ranch Processing Facility in
Wyoming, and the Alta Mesa Project
in Texas. The White Mesa Mill is
the only conventional uranium mill operating in the U.S. today and
has a licensed capacity of over 8 million pounds of
U3O8 per year. The Nichols Ranch Processing
Facility is an ISR production center with a licensed capacity of 2
million pounds of U3O8 per year. Alta Mesa is an ISR production center currently
on care and maintenance. Energy Fuels also has the largest NI
43-101 compliant uranium resource portfolio in the U.S. among
producers, and uranium mining projects located in a number of
Western U.S. states, including one producing ISR project, mines on
standby, and mineral properties in various stages of permitting and
development. The Company also produces vanadium as a co-product of
its uranium production from certain of its mines on the Colorado
Plateau, as market conditions warrant. 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". Energy Fuels' website is
www.energyfuels.com.
Cautionary Note Regarding Forward-Looking
Statements: Certain information contained in this
news release, including any information relating to: the Company
being a leading producer of uranium in the U.S.; the
strength of the Company's management team; realizing cost savings,
streamlining management, and maintaining a high level of
continuity as a result of the management changes; the 232
Petition;growing the alternate feed business; securing land
cleanup work; evaluating opportunities in vanadium; maintaining and
advancing the Company's uranium production portfolio; and
any other statements regarding Energy Fuels' future expectations,
beliefs, goals or prospects; constitute forward-looking
information within the meaning of applicable securities legislation
(collectively, "forward-looking statements"). All statements in
this news release that are not statements of historical fact
(including statements containing the words "expects", "does not
expect", "plans", "anticipates", "does not anticipate", "believes",
"intends", "estimates", "projects", "potential", "scheduled",
"forecast", "budget" and similar expressions) should be considered
forward-looking statements. All such forward-looking statements are
subject to important risk factors and uncertainties, many of which
are beyond Energy Fuels' ability to control or predict. A number of
important factors could cause actual results or events to differ
materially from those indicated or implied by such forward-looking
statements, including without limitation factors relating to: the
Company being a leading producer of uranium in the U.S.; the
strength of the Company's management team; realizing cost savings,
streamlining management, and maintaining a high level of
continuity as a result of the management changes; the 232
Petition;growing the alternate feed business; securing land
cleanup work; evaluating opportunities in vanadium; maintaining and
advancing the Company's uranium production portfolio;and
other risk factors as described in Energy Fuels' most recent annual
report on Form 10-K and quarterly financial reports. Energy
Fuels assumes no obligation to update the information in this
communication, except as otherwise required by law. Additional
information identifying risks and uncertainties is contained in
Energy Fuels' filings with the various securities commissions which
are available online at www.sec.gov and www.sedar.com.
Forward-looking statements are provided for the purpose of
providing information about the current expectations, beliefs and
plans of the management of Energy Fuels relating to the future.
Readers are cautioned that such statements may not be appropriate
for other purposes. Readers are also cautioned not to place undue
reliance on these forward-looking statements, that speak only as of
the date hereof.
SOURCE Energy Fuels Inc.