Uranium Energy Corp Receives Additional Non-Dilutive $10M, Extends Loan Facility to July 2016 and Provides Operations Update

Uranium Energy Corp Receives Additional Non-Dilutive $10M, Extends Loan 
Facility to July 2016 and Provides Operations Update 
NYSE MKT Equities Exchange Symbol - UEC 


        --  Maturity of existing credit facility extended by two years to
            further strengthen the Company's working capital position and
            financial flexibility;
        --  Substantial liquidity injection that is non-dilutive to
            shareholders through a drawdown of an additional $10M to
            advance the Company's hub-and-spoke production platform in
            South Texas;
        --  Continued support from two of the most respected investors in
            the natural resource sector; and
        --  Developments to continue at the Palangana, Goliad and Burke
            Hollow ISR Projects and increased extraction to come online
            with a sustained improvement in uranium prices, which is
            expected in 2014 on the back of reactor restarts in Japan.

CORPUS CHRISTI, TX, March 14, 2014 /CNW/ - Uranium Energy Corp (NYSE MKT: UEC) 
(the "Company" or "UEC") is pleased to announce that the Company, Sprott 
Resource Lending Partnership and CEF Capital Markets Limited (the "Lenders") 
have agreed to extend the previously announced $20,000,000 senior secured 
credit facility (the "Credit Facility") by deferring required principal 
payments by two years and extending the Credit Facility by two years to now a 
full four years (together, the "Credit Facility Extension").

The Company has drawn down a further $10,000,000, bringing the total principal 
amount outstanding under the Credit Facility Extension to $20,000,000.

Amir Adnani, President and CEO, stated, "The $10 million drawdown combined 
with the Credit Facility Extension have significantly strengthened UEC's 
financial position in a manner which is non-dilutive to our shareholders.  We 
will be utilizing this injection of growth capital to continue advancing our 
Texas hub-and-spoke production platform."

CEF's Chairman and CEO, Warren Gilman stated, "Our investment in UEC is based 
on the uniqueness and quality of their assets as well as the strength of its 
management team.  We are pleased to continue our support of the Company as it 
positions itself as the leading uranium producer in the U.S."

Narinder Nagra, President of Sprott Resource Lending Corp., added, "We 
anticipate improving conditions in the uranium market driven by the continued 
growth of nuclear power globally and strong supply-demand fundamentals for 
uranium over the medium to long-term. We support UEC's goal of becoming an 
important and strategic producer in the U.S., which despite being the world's 
largest consumer of nuclear power, is presently heavily dependent on imported 
uranium supply to fuel its nuclear reactors."

Uranium Market and Operations Update

The long-term fundamentals for both nuclear power and the uranium price are 
very strong however this strength is not currently reflected in uranium 
prices.  The current spot price of uranium is below the average economic cost 
to produce uranium from currently operating mines globally, and is well below 
the average economic cost to develop new production.

The current uranium price environment has reduced both existing production and 
the pipeline of uranium development projects globally resulting in even 
greater uranium supply shortfalls in the future, which in turn will lead to 
greater upward pressure on the uranium price.

As a result of the aforementioned status of the uranium market, the Company's 
near-term growth strategy of its hub-and-spoke production platform will focus 
on permitting, resource expansion and pre-extraction activities at its 
satellite projects.  Concurrently, operations will continue at the Hobson 
Processing Plant and the Palangana ISR Mine, maintaining our core operating 
team and personnel.  This strategy will position UEC to scale its operations 
relatively quickly as the uranium price strengthens, enabling the Company to 
realize additional cash flows and higher rates of return.

The Goliad ISR Project is one of the key components of the Company's 
hub-and-spoke production platform and preserving the full resource base until 
an improvement in uranium prices is anticipated to improve the project's 
financial returns and create greater shareholder value.  Hence, while all 
long-lead items have been ordered and received, the final completion of the 
wellfield, deep disposal well and ion-exchange plant will be in accord with 
the uranium price environment which is expected to improve in 2014 on the back 
of reactor restarts in Japan.

The Burke Hollow ISR Project advances on multiple fronts including an 
accelerated production permitting program and ongoing resource exploration and 
delineation as recently disclosed in a press release dated February 27, 2014.

UEC is positioned as a low-cost producer in the US uranium mining industry 
with the Hobson Plant having a physical capacity of two million pounds per 
year and a pipeline of permitted and extraction-ready projects to come online 
at sustainably higher uranium prices.

Credit Facility Extension

In addition to the existing terms of the Credit Facility, an annual fee of 
4.5%, payable in common shares of the Company (the "Extension Annual Fee Share 
Payment"), on the outstanding principal balance on such date, if any, plus 
$50,000 cash (the "Extension Annual Fee Cash Payment") is payable by the 
Company to the Lenders on each of July 31, 2015 and July 31, 2016 (each an 
"Extension Annual Fee Payment Date") should any principal be outstanding at 
such time.  The Extension Annual Fee Share Payment is to be payable (if at 
all) in such number of common shares of the Company determined on the basis of 
a 10% discount to the five-trading-day volume-weighted average closing price 
of the Company's common shares on the NYSE MKT immediately prior to the 
applicable date.

In connection with the Credit Facility Extension, the Company is required to 
issue a total of 100,000 common shares in the Company to the Lenders as an 
extension fee and extend the term of the existing bonus warrants previously 
issued to the Lenders by two years.  No Extension Annual Fee Share Payment or 
Extension Annual Fee Cash Payment shall be payable on an Extension Annual Fee 
Payment Date should the Loan be repaid in full prior to such date.

The securities referred to in this news release have not been registered under 
the U.S. Securities Act of 1933, as amended, and may not be offered or sold in 
the United States absent registration or an applicable exemption from 
registration requirements.

About Sprott Resource Lending Corp.

Sprott Resource Lending Corp. is a natural resource lender focused on 
providing financing to mining and oil and gas companies. In July 2013, Sprott 
Inc. completed the acquisition of Sprott Resource Lending Corp. which now 
operates as a subsidiary of Sprott Inc.

About CEF (Capital Markets) Limited

CEF (Capital Markets) Limited is owned by CEF Holdings Limited which is owned 
50% by Cheung Kong (Holdings) Limited and 50% by the Canadian Imperial Bank of 
Commerce ("CIBC"). Cheung Kong (Holdings) Limited is the publicly-listed 
flagship company of the Cheung Kong Group of companies, the Hong Kong based 
multi-national conglomerate with a combined market cap of the Group in excess 
of $100 billion as of February 28, 2013. CIBC is a leading North American 
financial institution with operations around the world. CEF is an investor in 
significant resource assets on a global basis.

About Uranium Energy Corp

Uranium Energy Corp is a U.S.-based uranium mining and exploration company.  
The Company's fully licensed and permitted Hobson processing facility is 
central to all of its projects in South Texas, including the operating 
Palangana in-situ recovery mine and the Goliad in-situ recovery project which 
is currently in construction.  The Company's operations are managed by 
professionals with a recognized profile for excellence in their industry, a 
profile based on many decades of hands-on experience in the key facets of 
uranium exploration, development and mining.

Safe Harbor Statement

Certain information contained in this news release constitutes 
"forward-looking statements" as such term is used in applicable United States 
and Canadian laws.  Generally, these forward-looking statements can be 
identified by the use of forward-looking terminology such as "expects" or 
"does not expect", "is expected", "anticipates" or "does not anticipate", 
"plans", "estimates", "intends" or "believes", or that certain actions, events 
or results "may", "could", "would", "might" or "will be taken", "occur", or 
"be achieved".

Forward-looking statements are based on the opinions and estimates of 
management as of the date such statements are made, and are subject to known 
and unknown risks, uncertainties and other factors that may cause the actual 
results, performance or achievements of UEC to be materially different from 
those expressed or implied by such forward-looking statements.  Many of these 
factors are beyond UEC's ability to control or predict.  Important factors 
that may cause actual results to differ materially and that could impact UEC 
and the statements contained in this news release can be found in UEC's 
filings with the SEC.  Such risks and other factors include, among others, 
variations in the underlying assumptions associated with the estimation or 
realization of mineralization, the availability of financing on acceptable 
terms, accidents, labor disputes, acts of God and other risks of the mining 
industry including, without limitation, risk of liability under environmental 
protection legislation, delays in obtaining governmental approvals or permits, 
title disputes or claims limitations on insurance coverage.  UEC believes that 
the expectations reflected in the forward-looking statements included in this 
news release are reasonable; however, no assurance can be given that these 
expectations will prove to be correct, and such forward-looking statements 
should not be unduly relied upon.

For forward-looking statements in this news release, UEC claims the protection 
of the safe harbor for forward-looking statements contained in the Private 
Securities Litigation Reform Act of 1995.  UEC assumes no obligation to update 
or supplement any forward-looking statements whether as a result of new 
information, future events or otherwise. This press release shall not 
constitute an offer to sell or the solicitation of an offer to buy securities.

Contact North America: Investor Relations, Uranium Energy Corp: Toll 
Free:(866) 748-1030 Fax:(361) 888-5041 E-mail:info@uraniumenergy.com 
Stock Exchange Information: NYSE MKT:UEC Frankfurt Stock Exchange 
Symbol:U6Z WKN:AØJDRR ISN:US916896103



SOURCE  Uranium Energy Corp 
Contact North America: Investor Relations, Uranium Energy Corp: Toll 
Free:(866) 748-1030 Fax:(361) 888-5041 E-mail:info@uraniumenergy.com 
Stock Exchange Information: NYSE MKT:UEC Frankfurt Stock Exchange 
Symbol:U6Z WKN:AØJDRR ISN:US916896103 
To view this news release in HTML formatting, please use the following URL: 
http://www.newswire.ca/en/releases/archive/March2014/14/c5150.html 
CO: Uranium Energy Corp
ST: Texas
NI: MNG LOAN MNA  
-0- Mar/14/2014 11:00 GMT
 
 
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