Ur-Energy SEC Filings

Ur‑Energy Inc. (URG) reported an insider transaction by its General Counsel and Corporate Secretary. On 11/10/2025, the officer exercised 226,630 options (code M) at $0.4494 per share (U.S. dollar equivalent) and sold 226,630 common shares (code S) at $1.2881 per share. Following these transactions, the officer directly holds 430,608 common shares.

The exercised options were originally granted on 11/13/2020 and vested in three annual tranches. Derivative holdings reported after the transactions total 435,426 options.

Ur‑Energy (URG) reported an insider transaction by a director. On 11/10/2025, 50,000 common shares were acquired through an option exercise at $0.4494 per share and 50,000 shares were sold at $1.2882. Following these transactions, 427,695 common shares were owned directly. The filing notes Canadian prices converted at Cdn$1.00 = US$0.7133, and 500,304 common share options remained beneficially owned after the transactions.

Ur‑Energy Inc. (URG) director reported insider transactions on 11/06/2025. The filing shows an option exercise of 213,914 common shares (Code M) at $0.4463 per share, followed by a sale of 74,727 common shares (Code S) at $1.3199 per share. After these transactions, the director directly beneficially owned 555,840 common shares. The derivative table indicates 336,390 options remained beneficially owned following the exercise.

Ur‑Energy Inc. (URG) reported an insider transaction on a Form 4. A director exercised options (Code M) and acquired 213,914 common shares on 11/06/2025 at an exercise price of US$0.4463 per share (equivalent to C$0.63 based on the stated exchange rate). Following the transaction, the director beneficially owns 564,477 common shares directly. The exercised options were originally granted on 11/13/2020 and vested in tranches: 71,305 on 11/13/2021; 71,305 on 11/13/2022; and 71,304 on 11/13/2023. After this exercise, 336,390 derivative securities (options) remain beneficially owned, with the option series expiring on 11/13/2025.

Ur-Energy Inc. filed a Form 8-K to report that on November 3, 2025 it issued a press release providing an earnings release and operational update for 2025 Q3. The press release is attached as Exhibit 99.1 and incorporated by reference, giving details on the company’s quarterly financial performance and operations. The company characterizes the information in Item 2.02 and Exhibit 99.1 as being furnished, not filed, under the Exchange Act, which affects how it is treated for certain securities law purposes.

Ur‑Energy Inc. (URG) filed its Q3 2025 10‑Q reporting higher sales but a wider loss. Sales were $6.3 million while cost of sales reached $7.1 million, producing a gross loss of $0.7 million. Operating costs rose to $19.1 million, and mark‑to‑market adjustments on derivatives and warrants drove a net loss of $27.5 million for the quarter and $59.3 million year‑to‑date.

Cash and cash equivalents were $52.0 million, with restricted cash of $11.4 million. Non‑current liabilities increased, including an inventory derivative obligation of $16.9 million, warrant liability of $9.0 million, and asset retirement obligations of $40.5 million. Shareholders’ equity was $90.7 million. Shares outstanding were 376,213,626 as of October 30, 2025.

Operationally, the company sold 110,000 lbs U3O8 in Q3 at an average price of $57.48/lb and projects total 2025 deliveries of 440,000 lbs at an average $61.77/lb, or $27.2 million in revenue. Finished inventory at the conversion facility was 278,150 lbs at quarter‑end. Subsequent events included purchasing 100,000 lbs for $8.2 million and extending an inventory loan to November 30, 2026, with an additional facility permitting up to 150,000 lbs.

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).