Uranium American Resources CEO William Hunter joined Steve Darling from Proactive to announce a key milestone as the company has entered into a binding agreement with a U.S. institutional investor for a $3.5 million equity investment.
Hunter stated that the capital raise will enable Uranium American to finalize the acquisition of JAG Minerals, including 100% ownership of its U.S. subsidiary, JAG Minerals US. This acquisition is expected to close imminently, marking a significant step forward in expanding the company’s uranium portfolio.
JAG Minerals, holds three key assets across Utah, Wyoming and Colorado. These assets include the State Line project on the Utah-Colorado border, where 19 previously producing uranium sites are targeted for exploration drilling. The $3.5 million financing will help fund geophysical work and initial drilling programs at State Line.
The company aims to advance exploration quickly given uranium’s growing importance in the energy transition. Hunter noted that proximity to established infrastructure, including Western Uranium’s operations and White Mesa Mill, is a strategic advantage for the business.
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