0001157523-12-004957.txt : 20120926 0001157523-12-004957.hdr.sgml : 20120926 20120926160201 ACCESSION NUMBER: 0001157523-12-004957 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20120920 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20120926 DATE AS OF CHANGE: 20120926 FILER: COMPANY DATA: COMPANY CONFORMED NAME: URANIUM RESOURCES INC /DE/ CENTRAL INDEX KEY: 0000839470 STANDARD INDUSTRIAL CLASSIFICATION: METAL MINING [1000] IRS NUMBER: 752212772 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-33404 FILM NUMBER: 121111129 BUSINESS ADDRESS: STREET 1: 405 STATE HIGHWAY BYPASS 121 STREET 2: BUILDING A, SUITE 110 CITY: LEWISVILLE STATE: TX ZIP: 75067 BUSINESS PHONE: 9722193330 MAIL ADDRESS: STREET 1: 405 STATE HIGHWAY BYPASS 121 STREET 2: BUILDING A, SUITE 110 CITY: LEWISVILLE STATE: TX ZIP: 75067 8-K 1 a50421665.htm URANIUM RESOURCES, INC. 8-K


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported):

 September 20, 2012

 

Uranium Resources, Inc.

(Exact name of registrant as specified in its charter)

Delaware

 

0-17171

 

75-2212772

     

(State or other jurisdiction
of incorporation)

(Commission
File Number)

(I.R.S. Employer
Identification No.)

405 State Highway 121 Bypass,
Building A, Suite 110 Lewisville, TX

 

75067

   

(Address of principal executive offices)

(Zip Code)

Registrant’s telephone number, including area code:

 

(972) 219-3330

 

Not Applicable

 

Former name or former address, if changed since last report

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation
of the registrant under any of the following provisions:

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))


Item 5.02    Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(b) Effective September 28, 2012, Donald C. Ewigleben resigned as President, Chief Executive Officer, Chief Operating Officer and Director of Uranium Resources, Inc. (“URI” or the “Company”).

(c) and (e) Effective September 28, 2012, Terence J. Cryan was appointed Interim President and Chief Executive Officer of the Company.  

Mr. Cryan has served as a director of the Company since October 2006. Mr. Cryan has over twenty-five years of experience in international business as an investment banker in the United States and Europe. In 2001, Mr. Cryan co-founded and presently serves as the Managing Director of Concert Energy Partners, an investment banking and private equity firm based in New York City. Prior to that, Mr. Cryan was a Senior Managing Director in the Investment Banking Division at Bear Stearns. Earlier in his career, Mr. Cryan was a Managing Director, Energy and Natural Resources Group Head and member of the Investment Banking Operating Committee at Paine Webber. Mr. Cryan joined Paine Webber following its acquisition of Kidder, Peabody in 1994. From 2007 to 2010, Mr. Cryan also served as President and CEO of Medical Acoustics LLC. Mr. Cryan has also been an adjunct professor at the Metropolitan College of New York Graduate School of Business and is a frequent lecturer at finance and energy and natural resources industry gatherings. Mr. Cryan holds a Master of Science degree in Economics from the London School of Economics and a B.A. from Tufts University. Mr. Cryan has served on the board of directors of Global Power Equipment Corp. Inc. since February 2008, has served on the board of directors of Gryphon Gold Corporation since August 2009 and was on the board of directors of The Providence Service Corporation from May 2009 to May 2011.  

The Company will compensate Mr. Cryan at $1,500 per day/$7,500 per week during his service as Interim President and Chief Executive Officer.  The Company will also grant Mr. Cryan 50,000 shares of Restricted Stock under the Company’s Amended and Restated 2004 Directors Stock Option and Restricted Stock Plan (the “Plan”), with 50% of the restricted shares vesting immediately and 50% vesting upon the hiring by the Company of a new permanent President and Chief Executive Officer, and an Option to purchase 200,000 shares of the Company’s common stock under the Plan, with 25% of the option shares vesting on the 6-month anniversary of the grant, 25% on the 12-month anniversary of the grant, 25% on the 18-month anniversary of the grant and 25% on the 24-month anniversary of the grant.  

A copy of the press release, dated September 20, 2012, announcing the resignation of Mr. Ewigleben and appointment of Mr. Cryan is furnished as Exhibit 99.1 hereto.

Item 8.01    Other Events.

On September 20, 2012, URI issued a press release announcing the resignation of Donald C. Ewigleben as President, Chief Executive Officer, Chief Operating Officer and Director of the Company, effective September 28, 2012, and the appointment of Terence J. Cryan as the Company’s Interim President and Chief Executive Officer.  A copy of that press release is furnished as Exhibit 99.1 hereto.

Item 9.01    Financial Statements and Exhibits

(d)      Exhibits

          Exhibit 99.1:       Press Release dated September 20, 2012


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

 

Uranium Resources, Inc.

 

Dated:

September 26, 2012

By:

/s/ Thomas H. Ehrlich

 

Name: Thomas H. Ehrlich

 

Title: Vice President and Chief Financial Officer


Exhibit Index

 

Exhibit
Number

Description
 

Exhibit 99.1:

Press Release dated September 20, 2012

EX-99.1 2 a50421665-ex991.htm EXHIBIT 99.1

Exhibit 99.1

Uranium Resources Announces Resignation of Chief Executive Officer

LEWISVILLE, Texas--(BUSINESS WIRE)--September 20, 2012--Uranium Resources, Inc. (NASDAQ: URRE) (URI), announced today that its President, Chief Executive Officer, Chief Operating Officer and Director, Donald C. Ewigleben, tendered his resignation effective September 28, 2012, to pursue other opportunities.

The Board of Directors has named current Board member Terence J. Cryan as Interim President and CEO. The Board will immediately begin a search for a replacement CEO.

Paul K. Willmott, Chairman of the Board, commented, “We believe URI is well positioned as a leading uranium development company in the U.S. While we are addressing near-term challenges, we have strong confidence in the Company’s future given our extremely qualified and experienced team, our significant holdings of in-place mineralized uranium material and our Churchrock Section 8 project, that we continue to advance.”

About Uranium Resources, Inc.

Uranium Resources Inc. explores for, develops and mines uranium. Since its incorporation in 1977, URI has produced over 8 million pounds of uranium by in-situ recovery (ISR) methods in the state of Texas. URI has over 206,600 acres of uranium mineral holdings and 152.9 million pounds of in-place mineralized uranium material in New Mexico and an NRC license to produce up to 1 million pounds of uranium per year. URI has an additional 1.3 million pounds of in-place mineralized uranium material in Texas and South Dakota. The Company acquired these properties over the past 20 years along with an extensive information database of historic drill hole logs, assay certificates, maps and technical reports. None of URI’s properties is currently in production.

URI’s strategy is to fully develop its resource base in New Mexico and Texas, expand its asset base both within and outside of New Mexico and Texas, partner with larger mining companies that have undeveloped uranium assets or with junior mining companies that do not have the mining experience of URI, as well as provide restoration expertise to those that require the capability or lack the proficiency.

Uranium Resources routinely posts news and other information about the Company on its website at www.uraniumresources.com.


Safe Harbor Statement

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to risks, uncertainties and assumptions and are identified by words such as “expects,” “estimates,” “projects,” “anticipates,” “believes,” “could,” and other similar words. All statements addressing operating performance, events, or developments that the Company expects or anticipates will occur in the future, including but not limited to statements relating to the Company’s mineralized uranium materials, timing of receipt of mining permits, production capacity of mining operations planned for properties in South Texas and New Mexico, planned dates for commencement of production at such properties, revenue, cash generation and profits are forward-looking statements. Because they are forward-looking, they should be evaluated in light of important risk factors and uncertainties. These risk factors and uncertainties include, but are not limited to, the spot price and long-term contract price of uranium, weather conditions, operating conditions at the Company’s mining projects, government regulation of the mining industry and the nuclear power industry, world-wide uranium supply and demand, availability of capital, timely receipt of mining and other permits from regulatory agents and other factors which are more fully described in the Company’s documents filed with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize, or should any of the Company’s underlying assumptions prove incorrect, actual results may vary materially from those currently anticipated. In addition, undue reliance should not be placed on the Company’s forward-looking statements. Except as required by law, the Company disclaims any obligation to update or publicly announce any revisions to any of the forward-looking statements contained in this news release.

CONTACT:
Investor & Media Contact:
Kei Advisors LLC
Deborah K. Pawlowski, 716-843-3908
dpawlowski@keiadvisors.com