I sincerely believe in the Uranium market and have been an avid follower of Uranium Resources. There is no question that this is a resource that will rebound as one of the most viable alternative energy sources. The spike to over $140 per pound has left a bad taste with some investors who have seen lows below $40 a pound within the last year. However, it is my opinion we have reached a low… the movers and shakers in the market who could benefit from the turnaround are out raising capital and getting ready. Here’s some recent activity.
Uranium Mining Company Raises $1.4M in Reverse Merger
Nevada-based Green Energy Fields went public through a reverse merger with the shell company American Energy Fields, a former natural resource developer, and raised about $1.4 million in a private placement.
Green Energy shareholders received about 28.8 million shares in the newly public company, while the PIPE investors received an additional 9.3 million shares along with warrants to purchase about another 4.7 million shares at 40 cents.
The shell’s assets and liabilities were transferred to its subsidiary Sienna Resources, which will be led by Julie Carter, the shell’s former sole officer and director.
Sichenzia Ross Friedman Ference advised Green Energy.
Content Credit: http://www.otclistings.com/?p=836