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Ur-Energy Inc. (NYSE American:URG; TSX:URE), a uranium mining company with a market capitalization of $389 million, announced Monday that Matthew D. Gili has been appointed as president, effective June 30, following the execution of an employment agreement between the company and Mr. Gili. According to InvestingPro data, the company maintains a strong liquidity position with more cash than debt on its balance sheet, though it has been experiencing rapid cash burn recently.
According to a press release statement, Mr. Gili, age 57, is a professional engineer with experience in executive roles at publicly traded mining companies. Most recently, he served as president and chief operating officer of i-80 Gold Corporation from 2021 to 2025 and previously as chief executive officer of Nevada Copper Corporation from 2018 to 2020. His background also includes senior positions at Barrick, Rio Tinto (NYSE:RIO), and Palabora Mining Company. The appointment comes as Ur-Energy shows strong market momentum, with InvestingPro analysis indicating significant returns over both the last month and three months.
The employment agreement provides that Mr. Gili is eligible to participate in all benefit plans and programs available to other executive employees of Ur-Energy. The agreement includes standard non-solicitation and non-disclosure provisions.
If Mr. Gili’s employment is terminated by the company without cause or if he resigns for good reason, he will receive a payment equal to two and one-half years of his base salary, in addition to other amounts due at the time, subject to statutory deductions and withholdings.
Ur-Energy’s board of directors set Mr. Gili’s annual base salary at $430,000 beginning on the effective date of his appointment. He will also receive an initial grant of 175,000 stock options under the company’s Amended and Restated Stock Option Plan.
The company reported that there are no arrangements or understandings between Mr. Gili and any other persons regarding his appointment as an officer, and no family relationships exist between Mr. Gili and members of the board or senior management. There are no related party transactions between Mr. Gili and the company that require disclosure under Item 404(a) of Regulation S-K.
This information is based on a press release statement included in the company’s filing with the Securities and Exchange Commission.
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