SUBSEQUENT EVENT

3 Months Ended

Oct. 31, 2017

Subsequent Events [Abstract]

Subsequent Events [Text Block]

NOTE 16: SUBSEQUENT EVENT

Subsequent to October 31, 2017, we entered into a definitive purchase agreement (the “Purchase Agreement”) with Uranerz Energy Corporation (“Uranerz”), a wholly owned subsidiary of Energy Fuels Inc., to acquire 100% of its advanced stage North Reno Creek project (“North Reno Creek Project”) located immediately adjacent to and within our existing Reno Creek Project permitting boundary in the Powder River Basin, Wyoming.

According to the Definitive Purchase Agreement, we will provide to Uranerz the following consideration at the closing of this transaction:

(a)        $2,940,000 in cash; and

(b)        $2,450,000 in shares of the Company (each, a “UEC Share”), with the number of UEC Shares to be calculated based on a deemed issuance price per UEC Share based on the volume weighted average price of our common shares on the NYSE American for the five trading days immediately prior to the closing date of the Purchase Agreement.