NetworkNewsBreaks – Energy Fuels Inc. (NYSE Amer
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Posted On: 06/11/2020 4:25:21 PM
NetworkNewsBreaks – Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) Announces Partial Cash Redemption of Debentures, Proactive Management of Remaining Debt
Energy Fuels (NYSE American: UUUU) (TSX: EFR), the largest uranium mining company in the United States, today announced that it has delivered a notice to the holders of its currently outstanding floating rate convertible unsecured subordinated debentures, due December 31, 2020 (the “Debentures”) that pursuant to the terms of the indenture (the “Indenture”) governing the Debentures, the Company will redeem on July 14, 2020 (the “Redemption Date”) Cdn$10,430,000 principal amount of the Cdn$20,860,000 Debentures outstanding. Per the update, the Debentures are redeemable for an amount equal to 101% plus accrued and unpaid interest, up to but excluding the Redemption Date. “Energy Fuels is proud to announce that we are paying off half of our debt on July 14, 2020, and that we expect to become debt-free by the end of 2020,” Mark S. Chalmers, president and CEO of Energy Fuels, stated in the news release. “We are proactively managing our remaining debt to ensure we have the ability to pay it off on our own timing and terms and with minimal disruption. We believe it makes sense to redeem half of the Debentures now because the U.S.-Canada exchange rate is favorable, we have sufficient cash available, and we will avoid approximately US$350,000 in interest payments in 2020 by doing so. We will address the remaining Cdn$10,430,000 balance over the next several months when we think the timing is most appropriate.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Energy Fuels (NYSE American: UUUU) (TSX: EFR), the largest uranium mining company in the United States, today announced that it has delivered a notice to the holders of its currently outstanding floating rate convertible unsecured subordinated debentures, due December 31, 2020 (the “Debentures”) that pursuant to the terms of the indenture (the “Indenture”) governing the Debentures, the Company will redeem on July 14, 2020 (the “Redemption Date”) Cdn$10,430,000 principal amount of the Cdn$20,860,000 Debentures outstanding. Per the update, the Debentures are redeemable for an amount equal to 101% plus accrued and unpaid interest, up to but excluding the Redemption Date. “Energy Fuels is proud to announce that we are paying off half of our debt on July 14, 2020, and that we expect to become debt-free by the end of 2020,” Mark S. Chalmers, president and CEO of Energy Fuels, stated in the news release. “We are proactively managing our remaining debt to ensure we have the ability to pay it off on our own timing and terms and with minimal disruption. We believe it makes sense to redeem half of the Debentures now because the U.S.-Canada exchange rate is favorable, we have sufficient cash available, and we will avoid approximately US$350,000 in interest payments in 2020 by doing so. We will address the remaining Cdn$10,430,000 balance over the next several months when we think the timing is most appropriate.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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