Nature of Operations

6 Months Ended

Jun. 30, 2013

Nature of Operations [Text Block]

1. Nature of Operations

Uranerz Energy Corporation (the “Company”) was incorporated in the State of Nevada, U.S.A. on May 26, 1999. Effective July 5, 2005, the Company changed its name from Carleton Ventures Corp. to Uranerz Energy Corporation. The Company has mineral property interests in the United States.

The Company is an Exploration Stage Company, as defined by Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 915, Development Stage Entities, as modified by the Securities and Exchange Commission (“SEC”) Industry Guide 7 . The Company’s principal business is the acquisition and exploitation of uranium and other mineral resources.

As at June 30, 2013, the Company has an accumulated deficit, debt of $6,000,000 and cash on hand of $5,995,555. The Company’s operating expenditure plan for the following 12 months will require additional cash. To meet the cash requirement to carry out its plans, the Company will be required to raise financing through borrowing, issuing additional shares, or a combination of borrowing and issuing additional shares Accordingly, there are material uncertainties that cast substantial doubt about the Company’s ability continue as a going concern. Management has plans in place to address the Company’s cash requirements. The completion of any plans are dependent on various factors, some of which are beyond management’s control, and there can be no assurance that they will be successful.