Uranium Energy Corp and Concentric Energy Corp have completed their stock-for-stock merger, giving UEC 100 percent ownership of the Anderson Property in Arizona.
The Anderson Property is a 7,581-acre mineral claim block with a previous history of small-scale uranium production, located in Yavapai County, Arizona, approximately 75 miles northwest of Phoenix.
"With the acquisition of the Anderson project, UEC is now the leading uranium player in Arizona, as well as in South Texas,” said President and CEO Amir Adnani.
“Arizona is both a business and energy-friendly state. Three of the largest nuclear power plants in the US are in Arizona, and all three plants have recently received their 20-year license extensions.
“The current temporary downturn in the uranium market is providing the company with an excellent opportunity to make strategic acquisitions at a viable cost, and this includes the Anderson Property. As these new projects come on-line, they bolster the company's already strong and diversified project portfolio of mining, development and exploration-stage properties to ensure on-going rapid growth."
