Uranium Resources Regains Compliance with NASDAQ Minimum Bid Price Rule
LEWISVILLE, Texas -- February 6, 2013
Uranium Resources, Inc. (NASDAQ:URRE) (URI) announced that it received
notification from the NASDAQ Stock Market (“NASDAQ”) indicating that the
Company has regained compliance with the minimum bid price requirement of
$1.00 per share for continued listing on NASDAQ. As of February 5, 2013, URI
had maintained a closing price of $1.00 or more for at least 10 consecutive
trading days. A hearing previously requested by URI with the NASDAQ Hearing
Panel to appeal the potential delisting is no longer needed and subsequently
has been cancelled.
The Company is now in full compliance with NASDAQ listing requirements and
will continue to be listed and traded on the NASDAQ.
On January 16, 2013, URI also regained compliance with NASDAQ rules requiring
the Board of Directors to be comprised of a majority of independent directors
and the Audit Committee to be comprised of at least three independent members.
About Uranium Resources, Inc.
Uranium Resources Inc. explores for, develops and mines uranium. Since its
incorporation in 1977, URI has produced over 8 million pounds of uranium by
in-situ recovery (ISR) methods in the state of Texas. URI has over 206,600
acres of uranium mineral holdings and 152.9 million pounds of in-place
mineralized uranium material in New Mexico and an NRC license to produce up to
1 million pounds of uranium per year. URI has an additional 1.3 million pounds
of in-place mineralized uranium material in Texas and South Dakota. The
Company acquired these properties over the past 20 years along with an
extensive information database of historic drill hole logs, assay
certificates, maps and technical reports.
Uranium Resources routinely posts news and other information about the Company
on its website at www.uraniumresources.com.
Safe Harbor Statement
This news release contains forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995. Forward-looking
statements are subject to risks, uncertainties and assumptions and are
identified by words such as “expects,” “estimates,” “projects,” “anticipates,”
“believes,” “could,” and other similar words. All statements addressing
operating performance, events, or developments that the Company expects or
anticipates will occur in the future, including but not limited to statements
relating to the Company’s estimated mineralized uranium material are
forward-looking statements. Because they are forward-looking, they should be
evaluated in light of important risk factors and uncertainties. These risk
factors and uncertainties include, but are not limited to, the spot price and
long-term contract price of uranium, the outcome of negotiations with the
Navajo Nation, the Company’s ability to reach agreements with current royalty
holders, weather conditions, operating conditions at the Company’s mining
projects, government and tribal regulation of the mining industry and the
nuclear power industry, world-wide uranium supply and demand, availability of
capital, timely receipt of mining and other permits from regulatory agents,
market reaction to a reverse stock split, determinations of the NASDAQ Hearing
Panel and other factors which are more fully described in the Company’s
documents filed with the Securities and Exchange Commission. Should one or
more of these risks or uncertainties materialize, or should any of the
Company’s underlying assumptions prove incorrect, actual results may vary
materially from those currently anticipated. In addition, undue reliance
should not be placed on the Company’s forward-looking statements. Except as
required by law, the Company disclaims any obligation to update or publicly
announce any revisions to any of the forward-looking statements contained in
this news release.
Kei Advisors LLC
Deborah K. Pawlowski, 716-843-3908
Uranium Resources, Inc.
Vice President, Corporate Development
Mat Lueras, 505-269-8317
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