LAKEWOOD, Colo., Sept. 2, 2021 /CNW/ - Energy Fuels Inc. (NYSE
American: UUUU) (TSX: EFR) ("Energy Fuels" or the
"Company") today reminds holders of its outstanding common
share purchase warrants (CUSIP: 292671179 / ISIN: CA2926711797)
(the "Warrants") that the Warrants will expire at
5:00 p.m. Toronto time on Monday,
September 20, 2021 ("Time of Expiry"). The
corresponding Warrant Indenture dated as of September 20, 2016 (the "Indenture") by
and among Energy Fuels, CST Trust Company (the "Canadian Warrant
Agent" or "AST") and American Stock Transfer & Trust
Company, LLC (the "U.S. Warrant Agent") may be viewed on the
U.S. Securities and Exchange Commission's Electronic Document
Gathering and Retrieval System ("EDGAR") at
https://www.sec.gov/Archives/edgar/data/1385849/000106299316011518/exhibit4-1.htm,
as summarized in a Form 51-102F3 Material Change Report filed
September 20, 2016 with the System
for Electronic Document Analysis and Retrieval ("SEDAR"),
which may be viewed at www.sedar.com.
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Any Warrants not exercised prior to 5:00 p.m. Toronto time on September 20, 2021 will expire and become void,
and the holder will no longer be able to exercise such voided
Warrants. As the Warrants are currently "in-the-money," the Company
recommends that Warrant holders take appropriate steps to protect
their investment.
All capitalized terms used herein that are not otherwise defined
shall have the meanings set forth in the Indenture.
The Warrants trade on the NYSE American (the "NYSE")
under the symbol UUUU-WT and on the Toronto Stock Exchange (the
"TSX") under the symbol EFR.WT. The NYSE notified Energy
Fuels that it will suspend trading in the Warrants after the close
of trading on September 15, 2021 so
that trades can be timely settled by September 20, 2021. The TSX, however, will not
suspend trading in the Warrants until market close on September 20, 2021.
As of August 31, 2021, there were
2,107,004 Warrants outstanding. Each whole Warrant represents the
right to purchase one (1) common share in the capital stock of
Energy Fuels (a "Common Share") at an exercise price of
USD$2.45 per Common Share.
Further information on the Warrants may be requested from, and
further questions may be directed to, the Company at
investorinfo@energyfuels.com. Answers to commonly asked questions
are as follows:
- How many Warrants were issued pursuant to the
Indenture?
4,168,750 Warrants as of the date of the
Indenture.
- Where do I send my Warrants in order to exercise
them?
All required documentation must be sent to AST's
Corporate Actions Department per the following instructions:
By Hand, Courier or
Registered Mail
|
By Mail (Except
Registered Mail)
|
1 Toronto
Street
|
P. O. Box
1036
|
Suite 1200
|
Adelaide Street
Postal Station
|
Toronto,
Ontario
|
Toronto,
Ontario
|
M5C 2V6
|
M5C 2K4
|
Attention: Corporate
Actions
|
Attention: Corporate
Actions
|
- What documentation is required in order to exercise my
Warrants?
1. Original warrant certificate with the
Subscription Form on the back filled out completely; and
2. Payment to the AST Corporate Actions Department.
*Certified
cheques should be made payable to AST TRUST COMPANY (CANADA).
In addition, if the Warrants are
held in the name of a corporate/business entity rather than an
individual:
3. A corporate resolution from the entity designating an
authorized official to sign on its behalf; and
*Must submit
an original, dated within the last six (6) months
*Subscription
Form must be signed exactly as authorized in the resolution
4. If the entity has a single director, either a medallion
stamp affixed to the Subscription Form or a notary stamp at the
bottom of the corporate resolution.
- May I wire funds to AST to cover the cost of my exercise
rather than by way of a certified cheque?
Yes. Please
contact the Company for the relevant wiring instructions.
- Where may I direct questions about my Warrants or the status
of a previously submitted exercise?
Questions should be
directed to AST at 1-800-387-0825 (in North America) or (416) 682-3860 (outside
North America) or by sending an
e-mail to inquiries@astfinancial.com.
- How long will it take to receive my Common Shares following
an exercise of Warrants?
As a part of a warrant holder's
exercise process, AST's Corporate Actions Department sends a
requisition to the U.S. Warrant Agent to issue the Common Shares,
and simultaneously sends the exercise funds to Energy Fuels as
compensation so that the Common Shares are fully paid and
non-assessable as of the issuance date. Receipt of such
requisition, confirmation of the Company's receipt of funds, and
the resulting Common Share issuance typically takes up to 2-3 weeks
in total. However, this timeframe is provided for reference only
and in no way represents a commitment or obligation of Energy
Fuels, AST or the U.S. Warrant Agent.
- Can I exercise my Warrants electronically?
No, there
is no way to do so.
- Can I exercise my Warrants directly through Energy Fuels
rather than sending my exercise and payment to AST?
No, all
documentation must go through AST and in accordance with the terms
of the Indenture.
- Is there a process at AST to expedite my
exercise?
No, there is no way to do so. Exercises are
processed in the order in which they are received, and a
significant number of exercises are currently being processed and
are expected to come in prior to the Time of Expiry.
- Are the Common Shares that result from my exercise of
Warrants free-trading?
Yes.
- Do the Warrants use an American-style exercise (i.e., can
they be exercised at any time at the warrant holder's
option)?
Yes, up to the Time of Expiry, except as limited by
Article 4.9(b) of the Indenture (setting a Beneficial Ownership
Limitation of 4.99%).
The above responses are meant to provide general clarification
only. It remains the sole obligation of the warrant holder to
ensure that all relevant terms in the Indenture are followed in
exercising any Warrants held.
As noted, above, any Warrants not exercised prior to
5:00 p.m. Toronto time on September 20, 2021, will expire and become void,
and the holder will no longer be able to exercise such voided
Warrants.
About Energy Fuels: Energy Fuels is a
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, and is ramping up to commercial-scale
production of RE Carbonate in 2021. Its corporate offices are in
Lakewood, Colorado near
Denver, 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 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, as well as RE Carbonate
from various uranium-bearing ores. The Nichols Ranch ISR Project is
currently on standby and has a licensed capacity of 2 million
pounds of U3O8 per year. The Alta Mesa ISR
Project is also currently on standby. In addition to the above
production facilities, Energy Fuels also 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." Energy Fuels' website is www.energyfuels.com.
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SOURCE Energy Fuels Inc.