Ur-Energy SEC Filings

Ur-Energy Inc. filed a prospectus supplement to its Form S-3 on October 20, 2025 to register the issuance of common shares upon the exercise of certain warrants issued in 2023. The company stated that no new warrants were issued in connection with this filing.

A legal opinion from Fasken Martineau DuMoulin LLP regarding the Warrant Shares was filed as Exhibit 5.1, with the related consent included within that exhibit. This action establishes registered status for shares that may be issued if warrant holders choose to exercise under the previously issued 2023 warrants.

Ur‑Energy Inc. (URG) filed a prospectus supplement registering up to 19,137,000 common shares issuable upon exercise of outstanding warrants. These shares become issuable only if holders exercise their warrants.

The warrants carry a $1.50 per‑share exercise price. If all registered warrants are exercised for cash, the company would receive approximately $28,705,500 in gross proceeds. Ur‑Energy plans to use any net proceeds to supplement working capital for the continued ramp-up at Lost Creek, support construction and development at Shirley Basin, fund exploration, and for general corporate purposes. Management will have broad discretion in applying proceeds.

The company reports 395,350,376 common shares would be outstanding immediately after this offering (assuming full exercise). In the dilution illustration, net tangible book value per share as of June 30, 2025 would increase from $0.28 to $0.34, implying $1.16 per-share dilution to new investors upon exercise.

Ur‑Energy Inc. (URG) filed a prospectus supplement updating its at‑the‑market (ATM) program to offer and sell up to $70,000,000 of common shares through co‑agents B. Riley Securities and Cantor Fitzgerald & Co. pursuant to the Amended and Restated Sales Agreement.

The company previously registered up to $100,000,000 under its July 19, 2023 prospectus, as amended. From July 19, 2023 through October 17, 2025, it sold 30,954,729 common shares for aggregate gross proceeds of $50,232,538 under the prior prospectus. As of this supplement, Ur‑Energy decreased the amount offered under the Sales Agreement by $30,000,000, such that the program now covers up to an aggregate of $70,000,000, including shares previously sold.

The common shares trade on NYSE American as URG and on the TSX as URE. On October 17, 2025, the closing prices were $1.61 (NYSE American) and CDN$2.24 (TSX).

Ur‑Energy Inc. (URG) announced a planned leadership transition. John W. Cash will retire as Chief Executive Officer effective December 12, 2025, and is expected to enter a consulting agreement to serve as a strategic advisor. He is expected to remain Chairman of the Board.

The Board appointed Matthew Gili, currently President, as Chief Executive Officer and President effective December 13, 2025, and voted to expand the Board and appoint him as a director on that date. The company noted that any adjustments to Mr. Gili’s existing employment agreement are yet to be determined and will be disclosed in a future filing if material. Ur‑Energy furnished a press release as Exhibit 99.1.

Walle Jade, identified as Vice President Finance of Ur‑Energy Inc. (ticker URG), was granted 120,000 stock options on 09/19/2025. The options have an exercise price of Cdn$2.09, reported as $1.5148 per share in U.S. dollars based on the exchange rate used on the pricing date. The options vest in three equal tranches of 40,000 shares on 09/19/2026, 09/19/2027, and 09/19/2028, are exercisable through 09/19/2030, and, following the grant, the reporting person beneficially owns 120,000 underlying common shares via direct ownership. The Form 4 was signed under power of attorney by Roger L. Smith on 10/01/2025.

Walle Jade, identified as Vice President Finance of UR‑ENERGY INC (ticker URG), submitted an initial Form 3 reporting that they do not beneficially own any securities of the issuer. The filing is an officer’s initial ownership disclosure under Securities Exchange Act Section 16 and notes the form was filed by a single reporting person. No non‑derivative or derivative positions are reported.

Robby Sai Kit Chang, a director of Ur‑Energy Inc. (URG), executed and sold common shares on 09/25/2025. He exercised 213,914 vested stock options at Cdn$0.63 per option (equivalent to $0.4523 U.S. per share) and simultaneously sold 213,914 shares at Cdn$2.4387 (equivalent to $1.7510 U.S. per share). After these transactions the filing shows 84,179 common shares beneficially owned directly and 336,390 shares underlying and beneficially owned including derivative positions. The options exercised were originally granted on 11/13/2020 and vested in three tranches in 2021–2023. The Form 4 was signed under power of attorney on 09/26/2025.

Roger L. Smith, Chief Financial Officer of Ur‑Energy Inc. (URG), executed option exercises and a contemporaneous sale on 09/24/2025. He exercised 252,087 options at an exercise price of C$0.63 (US$0.4535 per share using the reported FX rate) to acquire 252,087 common shares and then sold those 252,087 shares at C$2.3366 (US$1.6819 per share). After these transactions, Mr. Smith beneficially owned 632,175 common shares directly and held an additional 252,087 shares underlying options exercisable through 11/13/2025, for total reported direct beneficial interests reflected as 884,262 prior to the sale and 632,175 following the sale. The option grant date was 11/13/2020 with vesting in three annual tranches.