Uranerz Announces US$10 Million Financing

CASPER, WYOMING--(Marketwired - July 16, 2014) - Uranerz Energy Corporation ("Uranerz" or the "Company") (TSX:URZ)(NYSE MKT:URZ)(FRANKFURT:U9E) is pleased to announce that it intends to offer and sell to the public in the United States and Canada an aggregate of up to 8,000,000 units of the Company at a price per unit of US$1.25 ("Units") for gross proceeds of up to US$10,000,000, before deducting the placement agents' fees and estimated offering expenses (the "Offering"). Each Unit will be comprised of one share of the Company's common stock ("Common Share"), and one half of one common share purchase warrant, with each whole warrant ("Warrant") exercisable to purchase one additional Common Share for a period of 30 months following the closing of the Offering at an exercise price of US$1.60, subject to adjustment and acceleration provisions. The Warrants will be transferable, however, the Company will not apply for listing of the Warrants on any securities exchange.

Haywood Securities Inc. and Cantor Fitzgerald Canada Corporation have agreed to act as co-lead agents in relation to the proposed Offering of the Units ("Lead Agents") on behalf of a syndicate of agents (the "Agents"). All offers of Units in the United States will be made by U.S. registered broker-dealers.

Closing is anticipated to take place on July 25, 2014, subject to satisfaction of the conditions to closing set forth in an Agency Agreement, including receipt of approval of the NYSE MKT LLC and the Toronto Stock Exchange. Upon mutual agreement between the Company and the Lead Agents, the Agents may place up to an additional 1,600,000 Units at the same price as the offering price to the public, such mutual agreement to be made at any time up to four business days prior to the closing of the offering.

The Company anticipates that the net proceeds from the offering will be utilized to continue development of mining facilities, including wellfields, at the Company's Nichols Ranch ISR Uranium Project. Additionally, proceeds will be used for working capital and other general corporate purposes.

The Units are being offered through the Agents pursuant to a prospectus supplement to the Company's effective shelf registration statement on Form S-3 (File No. 333-196686) previously filed with the Securities and Exchange Commission and pursuant to a prospectus supplement to the Company's shelf prospectus filed with certain Canadian regulators in each of the provinces of Canada, except Quebec, pursuant to the multi-jurisdictional disclosure system. Copies of the prospectus supplement and accompanying base prospectus relating to the offering may be obtained from the Securities and Exchange Commission website at http://www.sec.gov, from the System for Electronic Document Analysis and Retrieval (SEDAR) website at http://www.sedar.com or from the Lead Agents at: