Ur-Energy Announces CDN$5,000,000 Private Placement
Denver, Colorado (Marketwire – June 1, 2010) Ur-Energy Inc. (TSX:URE, NYSE Amex:URG) (“Ur-
Energy” or the “Company”) announced that it has closed a brokered private placement financing (the
“Offering”). Under the Offering, the Company issued 5,000,000 common shares at a price of CDN$1.00 per
share for gross proceeds of CDN$5,000,000. Blackrock, Inc. (“Blackrock”), an insider of the Company,
through one of its investment advisory subsidiaries, subscribed for all of the 5,000,000 common shares issued
under the Offering.
Jeffrey Klenda, Chairman, stated, “Blackrock has been our largest shareholder since 2005, prior to our IPO, and
has been a solid supporter of the Company since that time. We are extremely pleased with Blackrock’s desire to
increase its holdings to this extent. It clearly demonstrates their ongoing commitment to Ur-Energy’s success.”
The proceeds from the Offering are expected to be used by the Company to finance drilling, mine development
on its properties, and for general working capital and corporate purposes.
Bill Boberg, President and CEO, stated further, “We continue to be well funded with CDN$38.5 million as
current cash resources as of March 31, 2010. We believe this is sufficient cash to get our Lost Creek Project
into production after receiving the final necessary licenses in upcoming months. While our current guidance for
receipt of all final permits and licenses continues to be this summer, various regulatory delays over the past couple
of years created a funding gap before first cash flow. Blackrock’s continuing support of Ur-Energy is most
Rodman & Renshaw, LLC, a wholly-owned subsidiary of Rodman & Renshaw Capital Group, Inc. (NASDAQ:
RODM), acted as agent for the Offerin g.
Following the Offering, Blackrock is expected to hold approximately 15.34% of the issued and outstanding
shares of the Company. The participation of Blackrock in the