CASPER, WYOMING -- (Marketwire) -- 03/28/13 -- Uranerz Energy Corporation (TSX: URZ)(NYSE MKT: URZ)(FRANKFURT: U9E) ("Uranerz" or the "Company") has released its financial results for the year ended December 31, 2012 as filed with the United States Securities and Exchange Commission ("SEC") and in Canada with the Canadian securities administrators (on SEDAR).
Financial Position at December 31, 2012
Cash and cash equivalents $ 7,016,710 Working capital $ 5,718,050 Total assets $ 32,846,112 Long term debt $ Nil Stockholders' Equity $ 29,622,961
Results of operations for twelve months ended December 31, 2012
Net Loss $ 14,501,541 Basic and Diluted Net Loss Per Share $ 0.19 Net Cash Used in Operating Activities $ 13,666,266 Net Cash Used in Investing Activities $ 14,441,693 Net cash Provided by Financing Activities $ 479,924
The financial information presented is in accordance with U.S. generally accepted accounting principles. To review Uranerz' annual report on Form 10-K for the year ended December 31, 2012, including its management discussion and analysis, visit the SEC, SEDAR or Uranerz websites.
The Nichols Ranch ISR Uranium Project is Uranerz' first ISR mine and is currently under construction. ISR, or in-situ recovery, is a mining process that uses a leaching solution to extract uranium from sandstone-hosted uranium deposits; it is the generally accepted extraction technology used in the Powder River Basin area of Wyoming. Uranerz controls a large strategic land position in the central Powder River Basin. The Company's management team has specialized expertise in the ISR uranium mining method and a record of licensing, constructing, and operating ISR uranium projects. The Company has entered into long-term uranium sales contracts for a portion of its planned production with Exelon and one other of the largest nuclear utilities in the country.
Please refer to the Company's website at www.uranerz.com, review the Company's filings with the Securities and Exchange Commission at www.sec.gov, or visit the Company's profile on SEDAR at www.sedar.com.
This press release may contain or refer to "forward-looking information" and "forward-looking statements" within the meaning of applicable United States and Canadian securities laws, which may include, but are not limited to, statements with respect to the potential for the Company to secure a loan through the Wyoming Business Council, the Company's expectations regarding the terms of such loan and all other statements which describe future activities or express intentions, plans or expectations and all statements in the future tense. Such forward-looking statements reflect our current views with respect to future events and are subject to certain risks, uncertainties and assumptions, including, the risks and uncertainties outlined in our most recent financial statements and reports and registration statement filed with the SEC (available at www.sec.gov) and with Canadian securities administrators (available at www.sedar.com). Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, believed, estimated or expected. We do not undertake to update forward-looking statements, except as required by law.