Mr. Ames Brown, a director of the Company, has acquired control or direction over an additional 1,000,000 common shares of the Company at market prices prevailing at the time of the transactions. As a result of his purchases, Mr. Brown now beneficially owns or exercises control or direction over a total of 1,739,520 common shares of Energy Fuels representing approximately 3.8% of the issued and outstanding common shares of the Company. Mr. Brown has advised the Company that he acquired the additional shares for investment purposes.
In addition, members of Energy Fuels’ management team, including Mr. Stephen P. Antony, President and CEO; and Mr. Paul Goranson, Executive Vice President, ISR Operations, recently purchased additional common shares of the Company. These purchases were also completed at market prices prevailing at the time of their respective transactions.
Energy Fuels President & CEO, Stephen P. Antony, stated:
The Company appreciates Mr. Brown’s strong vote of confidence in Energy Fuels’ uranium production assets, finances and management. There are a number of key developments in the uranium sector occurring right now that provide us with substantial optimism as we head into 2016. China continues its aggressive investment in nuclear energy. The U.S., which already consumes more uranium than any other nation, is in the process of starting its first new nuclear reactor in over 20 years. And, Japan is continuing to restart its large reactor fleet. While worldwide uranium demand is growing, the low uranium prices of the past few years have slowed new investment in exploration and mine development. We believe these and similar factors are likely to create substantial future supply constraints resulting in rising uranium prices. Energy Fuels is continually improving our ISR and conventional production, development and permitting activities to take advantage of today’s low uranium prices, while we position the Company for a uranium market recovery.
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