VANCOUVER, BC, Oct. 19, 2021 /CNW/ - Uranium Royalty
Corp. (NASDAQ: UROY) (TSXV: URC) ("URC" or the
"Company") announces that it is entering into contracts for
an additional four spot purchases totaling 400,000 pounds of
U3O8 at an average cost of US$45.00 per pound U3O8.
Deliveries will be accomplished in October-December 2021 through book transfers to URC's
storage account at Cameco Corporation's Fuel Services facilities in
Ontario, Canada.
As a result, URC will hold a physical inventory of 1,048,068
pounds U3O8 in the Cameco storage account at
a weighted average cost of US$37.64
per pound. The latest Trade Tech daily spot price is at
US$47.25 per pound as of October 18, 2021, leading to an increase in the
net realizable value of URC's physical uranium holdings to
US$10.07 million.
It is within URC's mandate to make periodic purchases of
physical uranium to provide attractive commodity price exposure to
shareholders, especially in these early stages of a bull market in
uranium. The global mega-trend towards de-carbonization is
providing a major catalyst for carbon-free, safe, and reliable
nuclear energy, and market fundamentals are rapidly rebalancing
with continued under-investment in new mine capacity and drawdown
of excess inventories.
This news release constitutes a "designated news release" for
the purposes of the Company's prospectus supplement dated
August 18, 2021 to its short form
base shelf prospectus dated June 16,
2021.
About Uranium Royalty Corp.
Uranium Royalty Corp. (URC) is the world's only uranium-focused
royalty and streaming company and the only pure-play uranium listed
company on the Nasdaq. URC provides investors with uranium
commodity price exposure through strategic acquisitions in uranium
interests, including royalties, streams, debt and equity in uranium
companies, as well as through holdings of physical uranium. The
Company is well positioned as a capital provider to an industry
needing massive investments in global productive capacity to meet
the growing need for uranium as fuel for carbon-free nuclear
energy. URC has deep industry knowledge and expertise to
identify and evaluate investment opportunities in the uranium
industry. The Company's management and the Board include
individuals with decades of combined experience in the uranium and
nuclear energy sectors, including specific expertise in mine
finance, project identification and evaluation, mine development
and uranium sales and trading.
Forward Looking Information
Certain statements in this news release may constitute
"forward-looking information", including those regarding the
Company's expectations regarding uranium markets. Forward-looking
information includes statements that address or discuss activities,
events or developments that the Company expects or anticipates may
occur in the future. When used in this news release, words such as
"estimates", "expects", "plans", "anticipates", "will", "believes",
"intends" "should", "could", "may" and other similar terminology
are intended to identify such forward-looking information.
Statements constituting forward-looking information reflect the
current expectations and beliefs of the Company's management. These
statements involve significant uncertainties, known and unknown
risks, uncertainties and other factors and, therefore, actual
results, performance or achievements of the Company and its
industry may be materially different from those implied by such
forward-looking statements. They should not be read as a guarantee
of future performance or results, and will not necessarily be an
accurate indication of whether or not such results will be
achieved. A number of factors could cause actual results to differ
materially from such forward-looking information, including,
without limitation, risks inherent to royalty companies, uranium
price volatility, risks related to the operators of the projects
underlying the Company's existing and proposed interests and those
other risks described in filings with Canadian securities
regulators and the U.S. Securities and Exchange Commission. These
risks, as well as others, could cause actual results and events to
vary significantly. Accordingly, readers should exercise caution in
relying upon forward-looking information and the Company undertakes
no obligation to publicly revise them to reflect subsequent events
or circumstances, except as required by law.
Neither the TSX Venture Exchange (the "TSX-V") nor its
Regulation Services Provider (as that term is defined in policies
of the TSX-V) accepts responsibility for the adequacy or accuracy
of this release.
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SOURCE Uranium Royalty Corp.