Uranium Resources, Inc. to Transfer to
NASDAQ Capital Market
LEWISVILLE,
TX, July 1, 2010 --- Uranium Resources, Inc. (NASDAQ:� URRE) (�URI�)
announced today The NASDAQ Stock Market, LLC has approved URI�s application to
transfer its stock listing to The NASDAQ Capital Market.� The transfer will be effective at the opening
of the market on Friday, July 2, 2010.�
The Company�s stock symbol �URRE� will not change as a result of the
transfer and it has no impact on the ability of investors to trade the stock.� The NASDAQ Capital Market is a continuous
trading market that operates in the same manner as The NASDAQ Global Market,
and it includes the securities of approximately 450 companies.� All companies listed on The NASDAQ Capital
Market must meet certain financial requirements and adhere to NASDAQ�s
corporate governance standards.
In
accordance with NASDAQ Marketplace Rules, the Company has been granted until
January 4, 2011 to demonstrate compliance with the minimum $1.00 bid price
requirement of The NASDAQ Capital Market.�
If compliance with the $1.00 bid price requirement is not regained in
the 180-day time period, NASDAQ will notify the Company of its determination to
delist the Company�s common shares, which decision may be appealed to a NASDAQ
Listing Qualifications Panel.
"The
transfer to the Capital Market allows our investors to continue to benefit from
our shares being listed on the NASDAQ Stock Market including visibility with
the investment community, liquidity and pricing efficiency while we continue to
pursue strategic opportunities and advance projects in New Mexico and
Texas," noted Don Ewigleben,
Uranium Resources� President and CEO.
The
transfer is in response to the notice the Company received from NASDAQ on
January 8, 2010 stating that for 30 consecutive days the bid price for the
Company�s common stock had closed below the minimum $1.00 per share as required
by Marketplace Rule 5550(a)(1) for continued listing on the NASDAQ Global
Market. �
About Uranium Resources, Inc.
Uranium Resources Inc. explores for, develops and mines
uranium.� Since its incorporation in
1977, URI has produced over 8
million pounds of uranium by in-situ recovery (ISR) methods in the state of Texas
where the Company currently has ISR mining projects. �URI
also has 183,000 acres of uranium mineral holdings and 101.4 million pounds of
in-place mineralized uranium material in New
Mexico, as well as a NRC license to produce up to 1
million pounds of uranium.� The Company
acquired these properties over the past 20 years along with an extensive
information database of historic mining logs and analysis.� None of URI�s
properties is currently in production. �
URI�s strategy
is to fully exploit its resource base in New Mexico and Texas, expand its asset
base both within and outside of New Mexico and Texas, partner with larger
mining companies that have undeveloped uranium or with junior mining companies
that do not have the mining experience of URI,
as well as provide restoration expertise to those that require the capability
or lack the proficiency.
Uranium Resources routinely posts news and other information
about the Company on its Web site at www.uraniumresources.com.
Safe
Harbor
Statement
This press release
contains forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995.�
Forward-looking statements are subject to risks, uncertainties and
assumptions and are identified by words such as �expects,� �estimates,�
�projects,� �anticipates,� �believes,� �could,� and other similar words.� All statements addressing operating
performance, events, or developments that the Company expects or anticipates
will occur in the future, including but not limited to statements relating to
the Company�s mineralized uranium materials, timing of receipt of mining
permits, production capacity of mining operations planned for properties in
South Texas and New Mexico, planned dates for commencement of production at
such properties, revenue, cash generation and profits are forward-looking
statements. Because they are forward-looking, they should be evaluated in light
of important risk factors and uncertainties. These risk factors and
uncertainties include, but are not limited to, the spot price and long-term
contract price of uranium, weather conditions, operating conditions at the
Company�s mining projects, government regulation of the mining industry and the
nuclear power industry, world-wide uranium supply and demand, availability of
capital, timely receipt of mining and other permits from regulatory agents and
other factors which are more fully described in the Company�s documents filed
with the Securities and Exchange Commission.�
Should one or more of these risks or uncertainties materialize, or
should any of the Company�s underlying assumptions prove incorrect, actual
results may vary materially from those currently anticipated. In addition,
undue reliance should not be placed on the Company�s forward-looking
statements. Except as required by law, the Company disclaims any obligation to
update or publicly announce any revisions to any of the forward-looking statements
contained in this press release.
Investor Contact:
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Company Contact:
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Deborah K. Pawlowski/James
M. Culligan
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Don Ewigleben
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Kei Advisors LLC
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President & Chief Executive Officer
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Phone:�
716.843.3908/ 716.843.3874
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Phone:� 972.219.3330
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Email: dpawlowski@keiadvisors.com/jculligan@keiadvisors.com
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Media Contact:
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April Wade
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Ph:� 505.440.9441
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E-mail:� awade@uraniumresources.com
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