Ur-Energy Inc.

Ur-Energy Inc.

November 18, 2005 17:30 ET

Ur-Energy Inc. Files Final Prospectus for Offering of Common Shares

ORLEANS, ONTARIO--(CCNMatthews - Nov. 18, 2005) -

NOT FOR DISTRIBUTION OR DISSEMINATION IN THE UNITED STATES
OR TO U.S. NEWS WIRE SERVICES

Ur-Energy Inc. ("Ur-Energy") has filed and been receipted for a final prospectus in the provinces of British Columbia, Alberta, Saskatchewan, Manitoba and Ontario in respect of its initial public offering of 8,000,000 common shares at a price of $1.25 per common share for gross proceeds of $10,000,000. Ur-Energy has engaged a syndicate of agents led by Raymond James Ltd., and including Canaccord Capital Corporation and Haywood Securities Inc., in respect of the offering. Closing of this offering is anticipated for November 29, 2005, subject to customary closing conditions and the provisions of an agency agreement between Ur-Energy and the agents syndicate. Ur-Energy has also granted the agents an option, exercisable for a period of 60 days from the closing date, to purchase up to an additional 1,200,000 common shares on the same terms as the offering to cover over-allotments, if any.

The TSX has conditionally approved the listing of the common shares under the symbol "URE", subject to Ur-Energy fulfilling the requirements of the Exchange.

Ur-Energy is a uranium production development company, with 9 major properties in Wyoming. Ur-Energy is working on its feasibility study to bring its Lost Creek and Lost Soldier Wyoming properties into pilot production within thirty-six months, as well as developing other production opportunities. Ur-Energy also has several Canadian exploration properties in the Northwest Territories and Nunavut.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, which may be made only by means of the final prospectus, nor shall there be any sale of the common shares in any state, province, or other jurisdiction, in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state, province, or jurisdiction. The common shares have not been, and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States without registration or applicable exemption from the registration requirements under U.S. securities laws.

Contact Information

  • Ur-Energy Inc.
    Robin Dow
    Chief Executive Officer
    1-888-834-7708
    or
    Raymond James Ltd. (IPO)
    Robert Boaz
    Managing Director
    (416) 777-7199