Uranium Resources, Inc. (Nasdaq:URRE) (ASX:URI), an energy metals exploration and development company, today announced that on February 8, 2017, at 8:00 a.m., URI called to order a special meeting of stockholders (the “Special Meeting”). A quorum was not reached at the Special Meeting, with 3,211,570 shares of the URI’s common stock, par value $0.001 per share (the “Common Stock”), present in person or by proxy at the meeting, representing only 20.51% of the issued and outstanding shares of the URI’s Common Stock as of the December 14, 2016 record date. Accordingly, the Special Meeting was not duly convened nor adjourned to a later date.
Following the Special Meeting, the Board of Directors of the Company held a meeting at which time the Directors unanimously agreed to cause the Company to pay Resource Capital Fund V L.P. (“RCF”) $5.5 million in cash, plus accrued and unpaid interest, to retire all of the obligations remaining under that certain loan agreement dated November 13, 2013 by and among the Company, certain of its subsidiaries and RCF. The retirement of the RCF loan agreement had been the intent of one of the proposals that was to be considered by the Company’s stockholders in the Special Meeting. The payment to RCF should complete on or about February 9, 2017.
