Uranium Resources arranges $10 million private placement of stock

By Sheri Kasprzak

New York, July 29 - Uranium Resources, Inc. said it is negotiating a private placement for $10 million.

The company plans to sell shares at a price not yet determined.

According to a statement, Uranium Resources is in talks with a placement agent for the deal. The placement agent could not be determined by press time Friday.

Proceeds from the planned offering will be used for Uranium Resources' southern Texas mining operations.

Based in Lewisville, Texas, Uranium Resources is a uranium exploration company.

On Friday, the company's stock closed up $0.05, or 8%, at $0.675.

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