Uranium Energy Corp Completes Financing


    AUSTIN, TX, June 29 /CNW/ - Uranium Energy Corp (NYSE AMEX:  UEC; the
"Company") is pleased to announce that, effective after the close on June 26,
2009, the Company completed a private placement financing involving the sale
of an aggregate of 9,099,834 units of the Company (each a "Unit"), together
with 200,000 common shares (each a "Share"), at a subscription price of $2.40
per Unit and Share, for gross proceeds of $22,319,601.
    Each Unit is comprised of one common share (each a "Unit Share") and
one-half of one transferable common stock purchase warrant (each a "Warrant")
of the Company, with each such whole Warrant being exercisable for one
additional common share of the Company (each a "Warrant Share") at an exercise
price of $3.10 per Warrant Share for a period of two years from closing.
    A total of 4,283,515 Units are being held in escrow pending receipt by
the Company of subscription funds totaling approximately $10,280,434, which is
expected to occur on or about Thursday, July 2, 2009.
    The net proceeds from the financing will be used for final permitting and
construction of the Company's Goliad ISR Uranium Project, and for general
corporate purposes.
    The Unit Shares, the Warrants and the Warrant Shares have not been
registered under the United States Securities Act of 1933, as amended, and may
not be offered or sold in the United States absent registration or an
applicable exemption from the registration requirements.

    About Uranium Energy Corp

    Uranium Energy Corp is a US-based resource company with the objective of
becoming a near-term ISR uranium producer in the United States. Utilizing its
extensive information library of historic uranium exploration and development
work, the Company has acquired and is advancing uranium properties throughout
the southwestern US. A Draft Mine Permit was recently issued for the Company's
lead project, the Goliad ISR Uranium Project in South Texas. Operational
management is comprised of pre-eminent uranium mining and exploration
professionals whose collective experience in this industry gives the Company
ongoing uranium mine-finding and mine development expertise.

    Stock Exchange Information:

    Frankfurt Stock Exchange Symbol: U6Z
    ISN: US916896103

    Safe Harbor Statement

    Except for the statements of historical fact contained herein, the
information presented in this news release constitutes "forward-looking
statements" as such term is used in applicable United States and Canadian
laws. These statements relate to analyses and other information that are based
on forecasts of future results, estimates of amounts not yet determinable and
assumptions of management. In particular, statements concerning historical
mineral resource estimates should be viewed as forward-looking statements to
the extent that they involve estimates of the mineralization that will be
encountered if the property is developed. Any statements that express or
involve discussions with respect to predictions, expectations, beliefs, plans,
projections, objectives, assumptions or future events or performance (often,
but not always, using words or phrases such as "expects" or "does not expect",
"is expected", "anticipates" or "does not anticipate", "plans, "estimates" or
"intends", or stating that certain actions, events or results "may", "could",
"would", "might" or "will" be taken, occur or be achieved) are not statements
of historical fact and should be viewed as "forward-looking statements". Such
forward looking statements involve known and unknown risks, uncertainties and
other factors which may cause the actual results, performance or achievements
of the Company to be materially different from any future results, performance
or achievements expressed or implied by such forward-looking statements. Such
risks and other factors include, among others, the actual results of
exploration activities, variations in the underlying assumptions associated
with the estimation or realization of mineral resources, the availability of
capital to fund programs and the resulting dilution caused by the raising of
capital through the sale of shares, accidents, labour disputes and other risks
of the mining industry including, without limitation, those associated with
the environment, delays in obtaining governmental approvals, permits or
financing or in the completion of development or construction activities,
title disputes or claims limitations on insurance coverage. Although the
Company has attempted to identify important factors that could cause actual
actions, events or results to differ materially from those described in
forward-looking statements, there may be other factors that cause actions,
events or results not to be as anticipated, estimated or intended. There can
be no assurance that such statements will prove to be accurate as actual
results and future events could differ materially from those anticipated in
such statements. Accordingly, readers should not place undue reliance on
forward-looking statements contained in this news release and in any document
referred to in this news release.
    Forward looking statements are made based on management's beliefs,
estimates and opinions on the date the statements are made and the Company
undertakes no obligation to update forward-looking statements if these
beliefs, estimates and opinions or other circumstances should change, except
as required by applicable law. Such forward-looking statements reflect our
current views with respect to future events and are subject to certain risks,
uncertainties and assumptions, including, the risks and uncertainties outlined
in our most recent financial statements and reports and registration statement
filed with the United States Securities and Exchange Commission (the "SEC")
(available at www.sec.gov) and with Canadian securities administrators
(available at www.sedar.com). Such risks and uncertainties may include, but
are not limited to, the risks and uncertainties set forth in the Company's
filings with the SEC, such as the ability to obtain additional financing, the
ability to manage growth, acquisitions of technology, equipment or human
resources, the effect of economic and business conditions, the ability to
attract and retain skilled personnel and factors outside the control of the
Company. These forward-looking statements are made as of the date of this news
release, and the Company assumes no obligation to update the forward-looking
statements or to update the reasons why actual results could differ from those
projected in the forward-looking statements. Although the Company believes
that the beliefs, plans, expectations and intentions contained in this news
release are reasonable, there can be no assurance those beliefs, plans,
expectations or intentions will prove to be accurate. Investors should
consider all of the information set forth herein and should also refer to the
risk factors disclosed in the Company's periodic reports filed from
time-to-time with the SEC. This news release shall not constitute an offer to
sell or the solicitation of an offer to buy nor shall there be any sale of
these securities in any jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the securities
laws of any such jurisdiction.

For further information:

For further information: Contact North America: Investor Relations,
Uranium Energy Corp: Toll Free: (866) 748-1030, Fax: (512) 535-0832, E-mail:

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