Uranium Resources, Inc. to Transfer to NASDAQ Capital Market
Uranium Resources, Inc. (NASDAQ: URRE) ('URI?) announced today The
NASDAQ Stock Market, LLC has approved URI′s application to transfer its
stock listing to The NASDAQ Capital Market. The transfer will be
effective at the opening of the market on Friday, July 2, 2010. The
Company′s stock symbol 'URRE? will not change as a result of the
transfer and it has no impact on the ability of investors to trade the
stock. The NASDAQ Capital Market is a continuous trading market that
operates in the same manner as The NASDAQ Global Market, and it includes
the securities of approximately 450 companies. All companies listed on
The NASDAQ Capital Market must meet certain financial requirements and
adhere to NASDAQ′s corporate governance standards.
In accordance with NASDAQ Marketplace Rules, the Company has been
granted until January 4, 2011 to demonstrate compliance with the minimum
$1.00 bid price requirement of The NASDAQ Capital Market. If compliance
with the $1.00 bid price requirement is not regained in the 180-day time
period, NASDAQ will notify the Company of its determination to delist
the Company′s common shares, which decision may be appealed to a NASDAQ
Listing Qualifications Panel.
'The transfer to the Capital Market allows our investors to continue to
benefit from our shares being listed on the NASDAQ Stock Market
including visibility with the investment community, liquidity and
pricing efficiency while we continue to pursue strategic opportunities
and advance projects in New Mexico and Texas,' noted Don Ewigleben,
Uranium Resources′ President and CEO.
The transfer is in response to the notice the Company received from
NASDAQ on January 8, 2010 stating that for 30 consecutive days the bid
price for the Company′s common stock had closed below the minimum $1.00
per share as required by Marketplace Rule 5550(a)(1) for continued
listing on the NASDAQ Global Market.
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 where
the Company currently has ISR mining projects. URI also has 183,000
acres of uranium mineral holdings and 101.4 million pounds of in-place
mineralized uranium material in New Mexico, as well as a NRC license to
produce up to 1 million pounds of uranium. The Company acquired these
properties over the past 20 years along with an extensive information
database of historic mining logs and analysis. None of URI′s properties
is currently in production.
URI′s strategy is to fully exploit 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 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 Web site at www.uraniumresources.com.
Safe Harbor Statement
This press 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 press release.
Investors:
Kei Advisors LLC
Deborah K. Pawlowski/James
M. Culligan
716-843-3908/ 716-843-3874
dpawlowski@keiadvisors.com/jculligan@keiadvisors.com
or
Media:
April
Wade, 505-440-9441
awade@uraniumresources.com
or
Uranium
Resources Inc.
Don Ewigleben, 972-219-3330
President & Chief
Executive Officer