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Aug 22, 2022

On August 22, 2022, Uranium Energy Corp (NYSEAM: UEC) (“UEC”) closed its previously announced plan of arrangement (the “Arrangement”) under the Canada Business Corporations Act, pursuant to which UEC acquired all of the issued and outstanding common shares of UEX Corporation (“UEX”) that it did not already own. The Arrangement was approved at a special meeting of UEX securityholders and was subsequently approved by the Supreme Court of British Columbia. Pursuant to the arrangement, UEX shareholders received 0.090 common shares in UEC for every UEX common share that they held.

This is UEC’s second successful highly accretive M&A transaction in the last year, creating the largest diversified North American focused uranium company. UEC is America’s leading, fastest growing, uranium mining company listed on the NYSE American. UEC is a pure play uranium company and is advancing the next generation of low-cost, environmentally friendly In-Situ Recovery (ISR) mining uranium projects. There was competing interest for UEX from other industry participants thanks to its portfolio of high-grade projects in Athabasca Basin, which bodes well for UEC shareholders.

McMillan acted as counsel to UEC in connection with this $260 million transaction, with a multi-disciplinary team led by Thomas Deutsch and comprised of Leo Raffin, Michael Shannon, Arman Farahani, Andjela Sabet and Ted Thiessen.

To address our client’s needs and help them stay ahead, the firm’s Mergers and Acquisitions (“M&A”) Group, which provides trusted counsel to merging parties and related stakeholders in M&A activity across various industries, joined forces with our Capital Markets & Securities Group, who advise, among others, on equity and debt offerings. McMillan’s lawyers work on deals of all shapes and sizes in the debt and equity spaces and have worked and negotiated with all levels of lenders, on behalf of public and private clients ranging from Fortune 500 companies to fast-growing small and medium-sized enterprises, for transactions originating in Canada, the US and internationally.