Ur-Energy Inc Received AMEX Listing Approval
Mining company Ur-Energy Inc. recently announced that it has received approval for the company’s common shares to be listed on the American Stock Exchange (AMEX) with trading expected to commence on Thursday 24 July 2008 under the symbol “URG”. Ur-Energy will retain its current listing on the Toronto Stock Exchange (URE-TSE).
As with all stock market listing approvals, the AMEX approval is conditional on Ur-Energy Inc. meeting all applicable AMEX listing standards on the date it begins trading, failing which, the approval may be withdrawn. In addition to specific requirements regarding shareholder’s equity, pre-tax income, distribution of shares, share price and market value public float, the AMEX listing board conducts a subjective review of all listing candidates before issuing an approval. The review includes an in-depth look at the nature of the company’s business; the market for its products; the reputation of its management team; the company’s financial integrity; its historical record relating to its pattern of growth; its demonstrated earnings power and financial integrity; and the future outlook for the company. Also, the company’s board of directors must accept and agree to abide by the corporate governance requirements as stipulated by AMEX. Clearly, being listed on the American Stock Exchange is no small accomplishment.
Ur-Energy is a mining company dedicated to identification, exploration and development of uranium properties in both Canada and the United States. The company’s United States interests include near-term production uranium properties in Wyoming. With its history of high production rates of uranium, Wyoming is currently home to two uranium mining operations run by two of the world’s largest uranium producers. Ur-Energy’s Canadian interests include two staked claims in the northern Proterozoic Basins of Canada – the Thelon and Hornby Bay. Additional properties are in the process of being acquired in both Wyoming and Canada.
President and CEO of Ur-Energy, Bill Boberg, stated that the AMEX listing will be a good complement to the company’s Toronto Stock Exchange listing and will greatly assist in increasing the company’s U.S. shareholder base, which has been a goal for some time. The corporate headquarters for Ur-Energy is situated in Littleton, Colorado, and the company has a registered office in Ottawa, Canada.