Uranium Resources Changes its Name to Westwater Resources and Announces New Chairman
CENTENNIAL, Colo., August 21, 2017 – Westwater Resources, Inc. (Nasdaq: WWR; ASX: URI), formerly Uranium Resources, Inc. (Nasdaq: URRE; ASX: URI), an energy metals exploration and development company, is pleased to announce that it has changed its name to Westwater Resources, Inc. to reflect its growing energy metals business. The name change is effective August 21, 2017, and Westwater Resources’ common stock will begin trading on Nasdaq under the new ticker symbol “WWR” at the opening bell on Monday August 21st. Also on August 21, Westwater Resources will submit an application to the ASX for the name change and ticker symbol change to “WWR.”
Christopher M. Jones, President and Chief Executive Officer, said, “As our lithium business grows to support the rising demand for energy storage, we believe that our name and identity needed to reflect this broader market focus. Westwater Resources is now focused on supply for both the power generation and energy storage markets, and is poised to take advantage of green energy power implementation around the world.”
To learn more about Westwater Resources, visit our website at: www.WestwaterResources.net
New Chairman of the Board of Directors
Westwater Resources, Inc. is also pleased to announce that its Board of Directors has unanimously appointed Terence J. Cryan to the Board and elected him as Chairman. Mr. Cryan re-joins the Company's Board having previously served as a Director between October 2006 and March 2016 and as Chairman from June 2014 through March 2016. Mr. Cryan is a Board Leadership Fellow of the National Association of Corporate Directors, and brings over 30 years of international business experience based in both the United States and Europe. Additional details regarding Mr. Cryan’s background can be found on our website.
Mr. Cryan commented after his election, "I am pleased to join the Westwater Resources' Board and to help advance the Company's business interests in both uranium and lithium. I have previously worked with each of the directors and I believe that together with the Company's management team we will continue to increase stockholder value." Concurrent with Mr. Cryan's return to the Company, Christopher M. Jones will step down as Interim Chairman and will continue to serve as the President & Chief Executive Officer of Westwater Resources, Inc.
About Westwater Resources
WWR is focused on expanding its energy metals strategy, which includes developing its new lithium business while maintaining optionality in the case of a future rising uranium price. The Company has developed a dominant land position in three prospective lithium brine basins in Nevada and Utah in preparation for exploration and potential development of any lithium resources that may be discovered there. In addition, WWR remains focused on advancing the Temrezli in-situ recovery (ISR) uranium project in Central Turkey when uranium prices permit economic development of this project. WWR controls extensive exploration properties in Turkey under eight exploration and operating licenses covering approximately 39,000 acres (over 16,000 ha) with numerous exploration targets, including the potential satellite Sefaatli Project, which is 30 miles (48 km) southwest of the Temrezli Project. In Texas, the
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Company has two licensed and currently idled uranium processing facilities and approximately 11,000 acres (4,400 ha) of prospective ISR uranium projects. In New Mexico, the Company controls mineral rights encompassing approximately 186,000 acres (75,300 ha) in the prolific Grants Mineral Belt, which is one of the largest concentrations of sandstone-hosted uranium deposits in the world. Incorporated in 1977, WWR also owns an extensive information database of historic drill hole logs, assay certificates, maps and technical reports for uranium properties located in the Western United States.
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