First Uranium sells Texas database to Uranium Energy

First Uranium Corp. selling its South Texas database package to Uranium Energy Corp. of Austin, Tex., for $900,000 (U.S.) in cash and stock, the American company said Wednesday.

This strategic database, with more than 40 uranium targets Uranium Energy plans to evaluate, will be paid for with $400,000 in cash and 159,236 of the company's common shares, valued at $3.14 apiece.

Stock in Uranium Energy was up 7 cents at $3.56 in early trading Wednesday morning.

The database is an evaluation of the uranium potential within the Goliad Formation located along the South Texas uranium belt, an area extending from south of Houston to the Mexican border.