19. Subsequent Events

Sale of Inventory to DOE NNSA

Subsequent to year-end, on January 31, 2023, we delivered 100,000 pounds of domestically produced U₃O₈ to the DOE NNSA uranium reserve at a sales price of $64.47 per pound. We received proceeds of $6.4 million from the sale on February 8, 2023.

Equity Financing

Subsequent to year-end, on February 21, 2023, we announced the closing of an underwritten public offering of 39,100,000 common shares and accompanying warrants to purchase up to 19,550,000 common shares, which includes the full exercise of the underwriters’ option to purchase up to 5,100,000 additional common shares and accompanying warrants to purchase up to 2,550,000 common shares, at a combined public offering price of $1.18 per common share and accompanying warrant. The warrants have an exercise price of $1.50 per whole common share and will expire three years from the date of issuance. The gross proceeds to the Company from were approximately $46.1 million, before deducting the underwriting discounts and commissions and other estimated offering expenses payable by Ur-Energy.