Uranium American Resources Inc. (OTC:UARI) said on Wednesday it had completed a rebranding effort and changed its ticker symbol to 'UARI', as the company sharpens its focus on uranium and vanadium projects in the US.
The move is part of the Woodland Hills, California-company’s strategic transition into the nuclear energy space, aligning with rising demand for clean energy alternatives.
Uranium American CEO William Hunter in a statement called the change “a key development in transforming the company” into a new uranium and vanadium player.
“We continue to advance significant discussions with strategic partners and trading entities to further enhance the company,” Hunter told shareholders.
Uranium American is in the process of acquiring three low-risk projects in the western United States, each with a history of uranium and vanadium production and located near operational mines and processing facilities.
Its flagship asset, the Stateline project, spans more than 19 historic high-grade uranium and vanadium mines across Colorado and Utah, and will be the company’s initial production target.
Additional projects include the Sky project, a roll-front uranium deposit with in-situ recovery potential, and the Marysvale project, a hard-rock uranium and vanadium mine with a track record of historic output.
The company said the assets were secured between 2017 and 2020 during a period of depressed uranium prices and benefit from existing datasets and historical production that could streamline resource updates and permitting.