Key Developments: Uranerz Energy Corp (URZ)

Uranerz Energy Corp Completes USD6 Million Short-Term Note Financing
Friday, 7 Jun 2013 08:45am EDT 

Uranerz Energy Corp announced that it has closed a short-term note (Note) financing with a select group of investors in the aggregate amount of USD6,000,000. The Note financing proceeds will be utilized to fund ongoing construction of the Company's Nichols Ranch ISR Uranium Project. Uranerz intends to repay the Notes in full upon closing of the Bond loan. The Company intends to use the proceeds from the financing to commence drilling of deep disposal wells at Nichols Ranch, to continue the construction of the Company's Nichols Ranch ISR Facility and for general corporate and administrative purposes. The Notes will mature on the earlier of 30 days from the execution and delivery of documentation in connection with the Bond financing, and December 31, 2013.  Full Article