/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE
SERVICES OR DISSEMINATION IN THE UNITED
STATES./
VANCOUVER, BC, Aug. 29,
2024 /CNW/ - Uranium Royalty Corp. (NASDAQ:
UROY) (TSX: URC) ("URC" or the "Company") announces
it has renewed its at-the-market equity program (the "ATM
Program") that allows the Company to distribute up to
US$39 million (or the equivalent in
Canadian dollars) of common shares of the Company (the "Offered
Shares") to the public from time to time, through the Agents
(as defined below), at the Company's discretion. The Offered Shares
sold under the ATM Program, if any, will be sold at the prevailing
market price at the time of sale.
Sales of Offered Shares through the ATM Program will be made
pursuant to the terms of an equity distribution agreement dated
August 29, 2024 (the "Distribution
Agreement") with a syndicate of agents led by BMO Nesbitt Burns
Inc., and including BMO Capital Markets Corp., Canaccord Genuity,
H.C. Wainwright & Co. LLC, National Bank Financial Inc.,
Paradigm Capital Inc., and TD Securities (collectively, the
"Agents").
The Company intends to use the net proceeds of any such sales
under the ATM Program to finance the acquisition of additional
royalties, streams, physical uranium and similar interests and for
working capital.
Under the Distribution Agreement, sales of Offered Shares will
be made by the Agents through "at-the-market distributions" as
defined in National Instrument 44-102 – Shelf Distributions
on the Toronto Stock Exchange, Nasdaq Capital Markets or any other
trading market for the Offered Shares in Canada or the United
States. The Company is not obligated to make any sales of
Offered Shares under the Distribution Agreement. Unless earlier
terminated by the Company or the Agents as permitted therein, the
Distribution Agreement will terminate upon the earlier of (a) the
date that the aggregate gross sales proceeds of the Offered Shares
sold under the ATM Program reaches the aggregate amount of
US$39 million (or the equivalent in
Canadian dollars); or (b) August 20,
2025.
The ATM Program will become effective upon the filing of a
prospectus supplement to the Company's short form base shelf
prospectus dated July 20, 2023 and
U.S. registration statement on Form F-10 filed June 8, 2023, as amended on July 20, 2023. The prospectus supplement relating
to the ATM Program will be filed shortly with the securities
commissions in each of the provinces and territories of
Canada and with the United States
Securities and Exchange Commission. Copies of the prospectus
supplement, the Distribution Agreement and other relevant documents
will be available on SEDAR+ at www.sedarplus.ca and EDGAR at
www.sec.gov. Alternatively, the lead agent will send copies of such
documents to investors upon request by contacting BMO Nesbitt Burns
Inc. by mail at Brampton Distribution Centre, 9195 Torbram Road,
Brampton, Ontario, L6S 6H2, attn:
The Data Group of Companies, by email at
attorbramwarehouse@datagroup.ca or by telephone at 905-791-3151
ext. 4312.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy securities, nor will there be any
sale of, the securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful.
About Uranium Royalty Corp.
Uranium Royalty Corp. (URC) is the world's only uranium-focused
royalty and streaming company and the only pure-play uranium listed
company on the NASDAQ. URC provides investors with uranium
commodity price exposure through strategic acquisitions in uranium
interests, including royalties, streams, debt and equity in uranium
companies, as well as through trading of physical uranium. The
Company is well positioned as a capital provider to an industry
needing massive investments in global productive capacity to meet
the growing need for uranium as fuel for carbon free nuclear
energy. URC has deep industry knowledge and expertise to identify
and evaluate investment opportunities in the uranium industry. The
Company's management and the Board include individuals with decades
of combined experience in the uranium and nuclear energy sectors,
including specific expertise in mine finance, project
identification and evaluation, mine development and uranium sales
and trading.
Forward Looking Information
Certain statements in this news release may constitute
"forward-looking information", including those regarding the
intended use of proceeds raised from the ATM Program.
Forward-looking information includes statements that address or
discuss activities, events or developments that the Company expects
or anticipates may occur in the future. When used in this news
release, words such as "estimates", "expects", "plans",
"anticipates", "will", "believes", "intends" "should", "could",
"may" and other similar terminology are intended to identify such
forward-looking information. Statements constituting
forward-looking information reflect the current expectations and
beliefs of the Company's management. These statements involve
significant uncertainties, known and unknown risks, uncertainties
and other factors and, therefore, actual results, performance or
achievements of the Company and its industry may be materially
different from those implied by such forward-looking statements.
They should not be read as a guarantee of future performance or
results, and will not necessarily be an accurate indication of
whether or not such results will be achieved. A number of factors
could cause actual results to differ materially from such
forward-looking information, including, without limitation, risks
inherent to royalty companies, uranium price volatility, risks
related to the operators of the projects underlying the Company's
existing and proposed interests and those other risks described in
filings with Canadian securities regulators and the U.S. Securities
and Exchange Commission. These risks, as well as others, could
cause actual results and events to vary significantly. Accordingly,
readers should exercise caution in relying upon forward-looking
information and the Company undertakes no obligation to publicly
revise them to reflect subsequent events or circumstances, except
as required by law.
SOURCE Uranium Royalty Corp.