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Uranium Royalty raises C$30M from IPO on TSX Venture Exchange

Uranium Royalty Corp. raised C$30 million from an oversubscribed and upsized IPO consisting of 20 million units priced at C$1.50 apiece, with its shares to begin trading on the TSX Venture Exchange under the symbol URC on Dec. 11.

The company's CEO is Scott Melbye, executive vice president of Uranium Energy Corp., and it is headquartered in Vancouver, British Columbia.

Uranium Royalty said Dec. 6 that each unit comprises one common share and one warrant, exercisable at C$2 per common share until Dec. 6, 2024. The syndicate of agents also secured a 5% overallotment option, exercisable for up to 30 days after closing.

The company closed a deal in September to acquire uranium royalties on four properties in the U.S.