Uranium Resources Seeks Reverse Stock Split, Secures $5M in Bridge Financing

Uranium Resources URRE today announced that it has filed a proxy statement to seek shareholder approval of a reverse stock split. The Company also announced the closing of $5 million in bridge financing (“Bridge Financing”) with Resource Capital Fund V L.P. (“RCF”) and the Company's plan to undertake a shareholder rights offering (“Rights Offering”) in 2013. Reverse Stock Split Proposed to Shareholders to Maintain NASDAQ Listing In order to regain compliance with NASDAQ's minimum $1.00 bid price requirement and maintain the Company's NASDAQ listing, URI's Board has unanimously approved a charter amendment to conduct a reverse stock split. See full press release