LITTLETON, CO, March 31, 2025 /PRNewswire/ – Ur-Power Inc. (NYSE American: URG) (TSX: URE) (“Ur-Energy” or the “Company”) broadcasts there’s a extend within the submitting of its annual monetary statements for the date ended December 31, 2024 and alike control’s dialogue and research (jointly, the “Financial Statements”) and the yearly knowledge method and Annual File on Mode 10-Ok, and the CEO and CFO certificate on the subject of the Monetary Statements (the “Required Filings”) past the prescribed submitting points in time.
The extend in submitting the Required Filings is because of an accounting factor recognized by way of the Corporate, make happen the desire for the Corporate to categorise sure store choices awarded below its Amended and Restated Reserve Possibility Plan (2005), as amended, as a legal responsibility. The non-cash reclassification from fairness to liabilities and a conceivable adjustment to store repayment expense will affect the Corporate’s exceptional choices within the extreme part of 2024. For readability, the Corporate does now not these days await a restatement of its Consolidated Monetary Statements for the date ended December 31, 2023.
Control is enterprise the desired paintings to expeditiously entire this accounting subject and to acquire ultimate has the same opinion from its exterior auditors and progress to report the Required Filings for 2024 inside the prescribed time frame. The Corporate expects to be ready to factor and report the Required Filings by way of deny next than April 14, 2025.
Because of the Required Filings now not being filed by way of March 31, 2025, the Corporate has made an utility for the imposition of a control stop business series (“MCTO”) as pondered below the Canadian Nationwide Coverage 12-203 – Control Stop Business Orders (“NP 12-203”); alternatively there is not any word that it’s going to be granted. An MCTO supplies a mechanism limiting the Corporate’s CEO and CFO from buying and selling within the Corporate’s securities occasion permitting the regular stocks to proceed buying and selling at the TSX and the NYSE American.
The Corporate has showed that it intends to fulfill the provisions of the backup knowledge pointers described in divisions 9 and 10 of NP 12-203 for as long as it remainder in default for failure to report the Required Filings. Within the match an MCTO isn’t granted, or the Corporate fails to report the precise Default Situation Experiences as prescribed by way of NP 12-203, acceptable Canadian securities regulatory government would possibly impose an Issuer Stop Business Line.
The Corporate confirms that it’s not matter to any insolvency continuing as of the presen hereof.
The Corporate additionally confirms that there is not any alternative subject matter knowledge in regards to the affairs of the Corporate that has now not been in most cases disclosed as of the presen herein.
About Ur-Power
Ur-Power is a uranium mining corporate running the Misplaced Creek in-situ cure uranium facility in south-central Wyoming. Now we have produced and shipped roughly 2.8 million kilos U3O8 from Misplaced Creek for the reason that graduation of operations. Ur-Power has all main allows and authorizations to start out development at Shirley Basin, the Corporate’s 2nd in situ cure uranium facility in Wyoming and is advancing Shirley Basin development and building following the March 2024 ‘exit’ resolution for the mine. We wait for the difference regulatory authorization for the growth of Misplaced Creek. Ur‑Power is preoccupied in uranium mining, cure and processing actions, together with the purchase, exploration, building, and operation of uranium mineral houses in the US. The principle buying and selling marketplace for Ur‑Power’s regular stocks is at the NYSE American below the emblem “URG.” Ur‑Power’s regular stocks additionally business at the Toronto Reserve Trade below the emblem “URE.” Ur-Power’s company workplace is in Littleton, Colorado and its registered workplace is in Ottawa, Ontario.
Cautionary Notice Referring to Ahead-Having a look Data
This leave would possibly comprise “forward-looking statements” inside the which means of acceptable securities rules relating to occasions or situations that can happen going forward (e.g., the expected timing of the submitting of the Required Filings and the scope of the non-cash reclassifications; whether or not the Corporate will fulfill the provisions of the backup knowledge pointers described in divisions 9 and 10 of NP 12-203; and the timing and consequence of the MCTO) and are according to flow expectancies that, occasion thought to be affordable by way of control at this age, inherently contain various vital industry, financial and aggressive dangers, uncertainties and contingencies. Most often, forward-looking statements may also be recognized by way of the significance of forward-looking terminology comparable to “plans,” “expects,” “does not expect,” “is expected,” “is likely,” “estimates,” “intends,” “anticipates,” “does not anticipate,” or “believes,” or diversifications of the foregoing, or statements that sure movements, occasions or effects “may,” “could,” “might” or “will be taken,” “occur,” “be achieved” or “have the potential to.” All statements, alternative than statements of historic reality, are thought to be to be forward-looking statements. Ahead-looking statements contain recognized and unknown dangers, uncertainties and alternative components which would possibly purpose the untouched effects, efficiency or achievements of the Corporate to be materially other from any occasion effects, efficiency or achievements categorical or implied by way of the forward-looking statements. Components that would purpose untouched effects to vary materially from any forward-looking statements come with, however aren’t restricted to, capital and alternative prices various considerably from estimates; failure to ascertain estimated assets and reserves; the grade and cure of ore which is mined various from estimates; manufacturing charges, modes and quantities various from estimates; delays in acquiring or screw ups to acquire required governmental, environmental or alternative venture approvals; inflation; adjustments in trade charges; fluctuations in commodity costs; delays in building and alternative components described within the family filings made by way of the Corporate at www.sedarplus.ca and www.sec.gov. Readers must now not park undue reliance on forward-looking statements. The forward-looking statements contained herein are according to the ideals, expectancies and reviews of control as of the presen hereof and Ur-Power disclaims any intent or legal responsibility to replace them or revise them to mirror any exchange in instances or in control’s ideals, expectancies or reviews that happen going forward.
SOURCE Ur-Power Inc.
