Uranium Resources Granted 180-Day Extension by NASDAQ to Regain Compliance with Bid Price Rule
Uranium Resources, Inc. (NASDAQ: URRE) ('URI? or the 'Company?),
announced that on July 17, 2012, it received notification from NASDAQ
granting an additional 180-day period, or until January 14, 2013, to
regain compliance with NASDAQ′s minimum $1.00 bid price per share rule.
Under NASDAQ listing rules, the Company was granted this extension
because it met the continued listing requirement for market value of
publicly held shares and all other applicable NASDAQ listing
requirements, except the bid price requirement, and the Company provided
written notice to NASDAQ of its intention to cure the bid price
deficiency during the second compliance period.
The Company will regain compliance with the minimum bid requirement if
at any time prior to January 14, 2013, the bid price for the Company's
common stock closes at $1.00 per share or above for a minimum of 10
consecutive business days.
If the Company does not regain compliance by the end of this second
grace period, it will receive notification from NASDAQ that its shares
are subject to delisting. At that point the Company may then appeal the
delisting determination to a Hearings Panel.
About Uranium Resources, Inc.
Uranium Resources Inc. explores for, develops and mines uranium. Since
its incorporation in 1977, URI has produced over 8 million pounds of
uranium by in-situ recovery (ISR) methods in the state of Texas. URI
also has 183,000 acres of uranium mineral holdings and 101.4 million
pounds of in-place mineralized uranium material in New Mexico and an NRC
license to produce up to 1 million pounds of uranium per year. The
Company acquired these properties over the past 20 years along with an
extensive information database of historic drill hole logs, assay
certificates, maps and technical reports. None of URI′s properties is
currently in production.
URI′s strategy is to fully develop its resource base in New Mexico and
Texas, expand its asset base both within and outside of New Mexico and
Texas, partner with larger mining companies that have undeveloped
uranium assets or with junior mining companies that do not have the
mining experience of URI, as well as provide restoration expertise to
those that require the capability or lack the proficiency.
Uranium Resources routinely posts news and other information about the
Company on its website at www.uraniumresources.com.
Safe Harbor Statement
This news release contains forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. Forward-looking
statements are subject to risks, uncertainties and assumptions and are
identified by words such as 'expects,? 'estimates,? 'projects,?
'anticipates,? 'believes,? 'could,? and other similar words. All
statements addressing operating performance, events, or developments
that the Company expects or anticipates will occur in the future,
including but not limited to statements relating to the Company′s
mineralized uranium materials, timing of receipt of mining permits,
production capacity of mining operations planned for properties in South
Texas and New Mexico, planned dates for commencement of production at
such properties, revenue, cash generation and profits are
forward-looking statements. Because they are forward-looking, they
should be evaluated in light of important risk factors and
uncertainties. These risk factors and uncertainties include, but are not
limited to, the spot price and long-term contract price of uranium,
weather conditions, operating conditions at the Company′s mining
projects, government regulation of the mining industry and the nuclear
power industry, world-wide uranium supply and demand, availability of
capital, timely receipt of mining and other permits from regulatory
agents and other factors which are more fully described in the Company′s
documents filed with the Securities and Exchange Commission. Should one
or more of these risks or uncertainties materialize, or should any of
the Company′s underlying assumptions prove incorrect, actual results may
vary materially from those currently anticipated. In addition, undue
reliance should not be placed on the Company′s forward-looking
statements. Except as required by law, the Company disclaims any
obligation to update or publicly announce any revisions to any of the
forward-looking statements contained in this news release.
Kei Advisors LLC
Mat Lueras, 505-269-8317
Don Ewigleben, 972-219-3330
President & Chief