Uranium American Resources Secures $3.5M Investment for JAG Minerals Acquisition

Uranium American Resources has secured a $3.5 million investment to finalize its acquisition of JAG Minerals. The financing is priced at $0.06 per share, a premium to the current share price, and includes warrants allowing the investor to purchase additional shares. The deal will allow UAR to acquire 100% of JAG Minerals, which owns JAG Minerals US Inc. UAR has raised over $4 million in the past year to advance and finalize the acquisition.

Uranium American Resources Inc. (OTC Pink: TNGL "UAR" or the "Company") has successfully secured a $3.5 million investment to complete its acquisition of JAG Minerals Pty Ltd. The financing, structured as a unit transaction, was priced at $0.06 per share, representing a significant premium to UAR's current share price. The deal includes warrants that allow the investor to purchase additional shares at $0.10 per share over a 48-month period [1][2][3][4].

The capital raise will enable UAR to acquire 100% of the issued shares of JAG Minerals, which in turn owns 100% of JAG Minerals US Inc. This acquisition is expected to close shortly, marking a significant step forward in expanding UAR's uranium portfolio [1][2][3][4].

JAG Minerals holds three key assets across Utah, Wyoming, and Colorado, including the State Line project on the Utah-Colorado border. The $3.5 million financing will help fund geophysical work and initial drilling programs at State Line. The proximity to established infrastructure, including Western Uranium’s operations and White Mesa Mill, is a strategic advantage for the business [2][4].

UAR CEO William Hunter expressed his excitement about this milestone, stating that the combination of this financing and the upcoming reverse stock split will significantly reduce the number of shares outstanding. The company aims to move forward quickly following the close of the deal and the reverse split [1][2][3][4].

UAR has raised over $4 million in the past year to advance and finalize the acquisition of JAG Minerals. The company was advised on this transaction by its corporate advisors, EAS Advisors LLC, acting through Odeon Capital Group LLC - Member of FINRA/SIPC/MSRB/NFA [1][3].

References:
[1] https://www.morningstar.com/news/accesswire/1048452msn/uranium-american-resources-inc-uar-signs-agreement-for-35-million-capital-raise-to-complete-the-purchase-of-jag-minerals-pty-ltd
[2] https://www.proactiveinvestors.com/companies/news/1074790/uranium-american-resources-secures-35m-investment-to-complete-jag-minerals-acquisition.html?region=ca
[3] https://www.stocktitan.net/news/TNGL/uranium-american-resources-inc-uar-signs-agreement-for-3-5-million-vkc0ybboiy6r.html
[4] https://www.proactiveinvestors.com/companies/news/1074771/uranium-american-resources-secures-3-5m-investment-to-finalize-jag-minerals-acquisition-1074771.html?region=ca