CORPUS CHRISTI, Texas - Uranium Energy Corp (NYSE American: UEC), a uranium producer with a strong balance sheet holding more cash than debt and maintaining a healthy current ratio of 10.1x, has acquired 170 million common shares of Anfield Energy Inc. (TSX-V: AEC) at C$0.115 per share for a total of C$19.55 million, according to a press release issued Friday.

The transaction increases UEC’s ownership in Anfield to approximately 32.4% of outstanding shares on a non-diluted basis, up from 17.6% prior to the acquisition. On a partially diluted basis, assuming exercise of its 96.27 million Anfield warrants, UEC would control about 37.6% of Anfield.

Each warrant is exercisable at C$0.18 per share until May 12, 2027.

UEC completed the purchase through private agreements using the "private agreement exemption" under Canadian securities regulations, which allows transactions not made to more than five persons and where consideration paid does not exceed 115% of market price.

The company stated the shares were acquired for investment purposes and that it may increase or decrease its ownership position in the future depending on various factors including Anfield’s business prospects and financial condition.

UEC describes itself as America’s largest and fastest growing uranium supplier with operations in Texas and Wyoming. The company restarted operations at its Christensen Ranch Project in Wyoming in August 2024.

The information contained in this article is based on a press release statement from Uranium Energy Corp.

In other recent news, Uranium Energy Corp has been the focus of analyst attention with notable ratings and project updates. BMO Capital initiated coverage of Uranium Energy Corp with an outperform rating and a price target of $7.75, citing the company’s strategic position and its "hub and spoke" development model. This model is recognized for its low capital intensity and is expected to offer production and funding flexibility. Meanwhile, Stifel analysts reiterated their Buy rating for the company, setting a higher price target of $10.50. Their affirmation comes amid significant progress at Uranium Energy Corp’s projects, particularly at the Christensen Ranch and Burke Hollow sites. The company has initiated operations at the Christensen Ranch’s header house 10-7 and anticipates first production at Burke Hollow in 2025. The installation of ion exchange columns and drilling activities further underline the company’s advancement efforts. Stifel’s optimism is based on these developments, which they believe will drive production growth. These recent developments highlight Uranium Energy Corp’s ongoing efforts to expand its production capabilities.

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