Auteco has also welcomed the Mishkeegogamang Ojibway First Nation as shareholders via the issuance of five million ordinary shares to the community fund.
The amended licence increases Hobson's licensed production capacity by four-fold to 4 million pounds annually, distinguishing it as the largest uranium plant in Texas.
According to the company, a “significant amount” of the net proceeds will be used for advancing work related to the planned exploration and development program.