October 25, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — Uranium Energy Corp (AMEX: UEC) said that it has entered into definitive agreements to sell units of the company by way of private placement, with each unit consisting of one common share of the company's common stock and one-half of one common stock share purchase warrant, for aggregate gross proceeds of up to around $27,528,467.20.

Under the terms of the offering the company expects to sell up to an aggregate of 8,096,608 units, at a price of $3.40 per unit, so that the purchasers will receive an aggregate of up to 8,096,608 shares of common stock and receive warrants to purchase up to an additional 4,048,304 shares of common stock of Uranium that are exercisable for a period of one year from the date of closing and have an exercise price of $3.95 per Warrant share.

Texas-based Uranium Energy Corp is an exploration company with the objective of near-term uranium production in the U.S. The company's Hobson processing facility is central to its various projects in South Texas, including its Palangana in-situ recovery project, and its Goliad in-situ recovery project.

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