LITTLETON, CO / ACCESSWIRE / July 26, 2024 / Ur-Energy Inc. (NYSE American:URG)(TSX:URE) ("Ur?Energy") announced today the pricing of its underwritten public offering of 57,150,000 common shares, at a public offering price of $1.05 per common share. Ur-Energy has also granted the underwriters a 30-day option to purchase up to 8,572,500 additional common shares on the same terms. The gross proceeds to Ur-Energy from this offering are expected to be approximately $60.0 million, before deducting the underwriting discounts and commissions and other estimated offering expenses payable by Ur-Energy, and assuming no exercise of the underwriters' option to purchase additional common shares. The offering is expected to close on or about July 29, 2024, subject to satisfaction of customary closing conditions. All of the common shares in the offering are to be sold by Ur-Energy.

Cantor is acting as the sole book-running manager for the offering.

A.G.P./Alliance Global Partners LLC; H.C. Wainwright & Co.; Roth Capital Partners; and Ventum Financial Corp. are acting as co-managers for the offering.

Ur-Energy anticipates using the net proceeds from the offering to supplement working capital for the continued ramp-up at Lost Creek, to support development at Shirley Basin, for possible future acquisitions or other strategic transactions and for working capital and general corporate purposes, although its management will have broad discretion in the application of the net proceeds of the offering. Ur-Energy frequently evaluates acquisition opportunities to expand its portfolio of uranium projects.

The common shares described above are being offered by Ur-Energy pursuant to a shelf registration statement on Form S-3 previously filed with and declared effective by the Securities and Exchange Commission (the "SEC") on July 19, 2023. A preliminary prospectus supplement and the accompanying prospectus relating to the common shares being offered have been filed with the SEC on July 25, 2024 and are available on the SEC's website at https://www.sec.gov. A final prospectus supplement will be filed with the SEC and will be available on the SEC's website at https://www.sec.gov. Copies of the final prospectus supplement (when available) and accompanying prospectus may be obtained from Cantor Fitzgerald & Co., Attention: Capital Markets, 110 East 59th Street, 6th Floor, New York, New York 10022, or by e-mail at [email protected].

This announcement is neither an offer to sell, nor a solicitation of an offer to buy, any of the common shares and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such offer, solicitation or sale is unlawful. Offers will be made only by means of the prospectus supplement and accompanying prospectus forming a part of the effective registration statement.