Uranium Energy Corp Completes Merger With Concentric Energy Corp To Acquire Anderson Property In Arizona

Uranium Energy Corp and Concentric Energy Corp announced the completion of the stock-for-stock merger (the Merger) effected under the laws of Nevada on September 9, 2011. Under the Merger, which was previously announced on May 6, 2011, UEC has issued 1,253,440 common shares of the Company to the former Concentric stockholders to acquire Concentric. The sole purpose of the Merger is to acquire Concentric's undivided 100% interest in the Anderson Property, a 7,581-acre mineral claim block located in Yavapai County, Arizona, with a previous history of small-scale uranium production. The Anderson Property covers 7,581 acres (or 11.85 square miles) and is comprised of 370 contiguous, unpatented lode mining and placer claims. It is located in Yavapai County, approximately 75 miles northwest of Phoenix. In 2001, Concentric staked this claim block, which consolidated portions of the mineral claims held in the 1970s by Minerals Exploration Company (MinEx), a subsidiary of Unocal Corporation, and Urangesellschaft U.S.A., Inc. (UG).