Item 1.01 Entry into a Material Definitive Agreement

On August 5, 2022, Uranium Energy Corp. (the "Company" or "UEC") entered into an amending agreement (the "Amending Agreement") to the previously announced arrangement agreement (the "Arrangement Agreement") dated June 13, 2022, as amended June 23, 2022, with UEC 2022 Acquisition Corp. ("UEC Acquisition Co."), a wholly owned subsidiary of UEC, and UEX Corporation ("UEX"), pursuant to which UEC, through UEC Acquisition Co., is to acquire all of the issued and outstanding common shares of UEX (each, a "UEX Share") by way of a statutory plan of arrangement (the "Arrangement") under the Canada Business Corporations Act.

Under the terms of the Amending Agreement, holders of UEX Shares (the "UEX Shareholders") will receive 0.0890 of one common share of UEC (a "UEC Share") in exchange for each UEX Share. This share exchange ratio implies consideration of approximately C$0.49 per UEX Share based on the closing price of UEX Shares and UEC Shares on the Toronto Stock Exchange and the NYSE American Exchange, respectively, and the spot exchange rate as of August 5, 2022.

In addition, the Amending Agreement provides for an increase in the termination fee as provided for under Section 9.6 of the Arrangement Agreement from US$8,250,000 to US$8,800,000 to be paid by UEX to UEC if the Arrangement Agreement, as amended, is terminated in certain specified circumstances.

The foregoing description of the Amending Agreement does not purport to be complete and is qualified in its entirety by the Amending Agreement, which is filed as Exhibit 10.1 hereto and is incorporate by reference herein.

Item 9.01 Financial Statements and Exhibits

(a) Financial Statements of Business Acquired

Not applicable.

(b) Pro forma Financial Information





Not applicable.

(c) Shell Company Transaction



Not applicable.

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(d) Exhibits



Exhibit   Description
 10.1       Amending Agreement between Uranium Energy Corp., UEC 2022 Acquisition
          Corp. and UEX Corporation, dated August 5, 2022
  104     Cover Page Interactive Data File (the cover page XBRL tags are embedded
          within the inline XBRL document)


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