<SEC-DOCUMENT>0001062993-16-011516.txt : 20160919
<SEC-HEADER>0001062993-16-011516.hdr.sgml : 20160919
<ACCEPTANCE-DATETIME>20160919161440
ACCESSION NUMBER:		0001062993-16-011516
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20160919
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20160919
DATE AS OF CHANGE:		20160919

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ENERGY FUELS INC
		CENTRAL INDEX KEY:			0001385849
		STANDARD INDUSTRIAL CLASSIFICATION:	MINING, QUARRYING OF NONMETALLIC MINERALS (NO FUELS) [1400]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			A6
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36204
		FILM NUMBER:		161891886

	BUSINESS ADDRESS:	
		STREET 1:		225 UNION BLVD., SUITE 600
		CITY:			LAKEWOOD
		STATE:			CO
		ZIP:			80228
		BUSINESS PHONE:		303-974-2140

	MAIL ADDRESS:	
		STREET 1:		225 UNION BLVD., SUITE 600
		CITY:			LAKEWOOD
		STATE:			CO
		ZIP:			80228
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>form8k.htm
<DESCRIPTION>FORM 8-K
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   <TITLE>Energy Fuels Inc.: Form 8-K - Filed by newsfilecorp.com</TITLE>
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<P align=center><B><FONT size=5>UNITED STATES </FONT><BR></B><B><FONT
size=5>SECURITIES AND EXCHANGE COMMISSION</FONT></B><B> <BR></B><B>Washington,
D.C. 20549 </B></P>
<P align=center><B><FONT size=5>FORM 8-K</FONT></B><B> </B></P>
<P align=center><B>CURRENT REPORT</B><B> <BR></B><B>Pursuant to Section 13 or
15(d) of the Securities Exchange Act of 1934 </B></P>
<P align=center>Date of Report (Date of earliest event reported): <B>September
15, 2016 </B></P>
<P align=center><B><FONT size=5>ENERGY FUELS INC.</FONT>
<BR></B>(Exact name of registrant as specified in its charter) </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
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  <TR vAlign=top>
    <TD align=center><U><B>Ontario </B></U></TD>
    <TD align=center width="33%"><U><B>001-36204 </B></U></TD>
    <TD align=center width="33%"><U><B>98-1067994 </B></U></TD></TR>
  <TR vAlign=top>
    <TD align=center>(State or other jurisdiction of </TD>
    <TD align=center width="33%">(Commission File Number) </TD>
    <TD align=center width="33%">(I.R.S. Employer </TD></TR>
  <TR vAlign=top>
    <TD align=center>incorporation) </TD>
    <TD align=left width="33%">&nbsp; </TD>
    <TD align=center width="33%">Identification No.) </TD></TR></TABLE><BR>
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  <TR vAlign=top>
    <TD align=center><B>225 Union Blvd., Suite 600 </B></TD>
    <TD align=center width="50%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=center><U><B>Lakewood, Colorado </B></U></TD>
    <TD align=center width="50%"><U>&nbsp;<B>80228 </B></U></TD></TR>
  <TR vAlign=top>
    <TD align=center>(Address of principal executive offices) </TD>
    <TD align=center width="50%">(Zip Code) </TD></TR></TABLE>
<P align=center><B><U>(303) 974-2140</U><BR></B>(Registrant&#146;s telephone number,
including area code) </P>
<P align=center><B><U>N/A</U><BR></B>(Former name or former address, if changed
since last report) </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Check the appropriate box below
if the Form 8-K is intended to simultaneously satisfy the filing obligation of
the registrant under any of the following provisions: </P>
<P style="MARGIN-LEFT: 5%" align=justify>[&nbsp; ]&nbsp; Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </P>
<P style="MARGIN-LEFT: 5%" align=justify>[&nbsp; ]&nbsp; Soliciting material
pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a -12) </P>
<P style="MARGIN-LEFT: 5%" align=justify>[&nbsp; ]&nbsp; Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d
-2(b)) </P>
<P style="MARGIN-LEFT: 5%" align=justify>[&nbsp; ]&nbsp; Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e
-4(c)) </P>
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<P align=justify><B>Item 9.01.&nbsp; Exhibits. </B></P>
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    <TD align=left><B><U>Exhibit</U></B> </TD>
    <TD align=left width="92%"><B><U>Description</U></B> </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee><a href="exhibit5-3.htm">5.3</a> </TD>
    <TD align=left width="92%" bgColor=#eeeeee><a href="exhibit5-3.htm">Legal Opinion of Borden Ladner
      Gervais LLP*</a> </TD></TR>
  <TR vAlign=top>
    <TD align=left>23.36 </TD>
    <TD align=left width="92%">Consent of Borden Ladner Gervais LLP * (contained
    in Exhibit 5.3)</TD></TR></TABLE><BR>
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  <TR>
    <TD vAlign=top width="5%">* </TD>
    <TD>
      <P align=justify>The foregoing Exhibits are hereby incorporated by
      reference into the Registrant&#146;s Registration Statement on Form S-3 (File
      No. 333-210782), filed with the Commission of May 5, 2016 and declared
      effective on May 5, 2016, pursuant to the United States Securities Act of
      1933, as amended. Furthermore, the foregoing Exhibits update and replace
      Exhibits 5.1 and 99.3 that the Registrant filed with the Commission under
      cover of Current Report on Form 8-K on September 16,
  2016.</P></TD></TR></TABLE><BR>
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<P align=center><B>SIGNATURES</B> </P>
<P align=justify>Pursuant to the requirements of the Securities Exchange Act of
1934, the Company has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.</P>
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  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="50%"><B>ENERGY FUELS INC.</B> </TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="50%">(Registrant) </TD></TR>
  <TR>
    <TD>&nbsp; </TD>
    <TD width="50%">&nbsp; </TD></TR>
  <TR>
    <TD>&nbsp; </TD>
    <TD width="50%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left>Dated: September 19, 2016 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="50%">By:
      <I>/s/ </I>David C. Frydenlund </TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="50%">David C. Frydenlund </TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="50%">Senior Vice President, General Counsel and
      Corporate </TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="50%">Secretary </TD></TR></TABLE><BR>
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<DOCUMENT>
<TYPE>EX-5.3
<SEQUENCE>2
<FILENAME>exhibit5-3.htm
<DESCRIPTION>EXHIBIT 5.3
<TEXT>
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<P align=justify>September 19, 2016 </P>
<P align=justify>Energy Fuels Inc.<BR>80 Richmond Street West, 18<SUP>th</SUP>
Floor <BR>Toronto, Ontario <BR>Canada M5H 2A4</P>
<P align=justify>Dear Sirs/Mesdames:</P>
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  <TR vAlign=top>
    <TD align=left><B>Re:</B> </TD>
    <TD align=left width="95%"><B>Energy Fuels Inc. &#150; Registration Statement
      on Form S-3 </B>(the &#147;<B>Registration Statement</B>&#148;) </TD></TR></TABLE>
<P align=justify>We have acted as Ontario counsel to Energy Fuels Inc. (the
&#147;<B>Company</B>&#148;). We refer to the Company&#146;s registration statement on Form S-3
(the "<B>Registration Statement</B>") filed on May 5, 2016 with the Securities
and Exchange Commission (the "<B>SEC</B>") under the Securities Act of 1933, as
amended (the "<B>Securities Act</B>"), and to the Prospectus included therein
(the "<B>Prospectus</B>"). </P>
<P align=justify>We are furnishing this opinion at your request in connection
with the Company&#146;s prospectus supplement dated the date hereof to the Prospectus
(the "<B>Prospectus Supplement</B>"), relating to the offering of 8,337,500<B>
</B>units of the Company (the "<B>Units</B>") (which includes 1,087,500 Units
issued as a result of the exercise by the Underwriters (as defined below) of an
option to acquire such Units to cover over-allotments). Each Unit consists of
one common share (&#147;<B>Common Share</B>&#148;) and one-half of one transferable common
share purchase warrant. Each whole common share purchase warrant
(&#147;<B>Warrant</B>&#148;) will entitle the holder to purchase one common share
(&#147;<B>Warrant Share</B>&#148;) at a price of US$1.80 per Warrant Share at any time
until 5:00 p.m. (Toronto Time) on the date that is 60<B> </B>months following
the closing of the offering. </P>
<P align=justify>The Units are being offered pursuant to an amended and restated
underwriting agreement dated September 15, 2016 (as amended and restated, the
&#147;<B>Underwriting Agreement</B>&#148;) among the Company and Cantor Fitzgerald Canada
Corporation and Rodman &amp; Renshaw a unit of H.C. Wainwright &amp; Co., LLC
(together with Cantor Fitzgerald Canada Corporation, the &#147;<B>Co-Lead
Underwriters</B>&#148;) acting as joint book-running managers and as representatives
of a syndicate of underwriters (collectively with the Co-Lead Underwriters, the
&#147;<B>Underwriters</B>&#148;).</P>
<P align=justify>Collectively, the Units, Common Shares, Warrants and Warrant
Shares are referred to as the &#147;<B>Securities</B>&#148;. </P>
<P align=justify>We have examined such documents and have reviewed such
questions of law as we have considered necessary and appropriate for the
purposes of our opinions set forth below. In rendering our opinions set forth
below, we have assumed the authenticity of all documents submitted to us as
originals, the genuineness of all signatures and the conformity to authentic
originals of all documents submitted to us as copies or facsimile transmissions.
We have also assumed the legal capacity for all purposes relevant hereto of all
natural persons and, with respect to all parties to agreements or instruments
relevant hereto other than the Company, that such parties had the requisite
power and authority (corporate or otherwise) to execute, deliver and perform
such agreements or instruments, that such agreements or instruments have been
duly authorized by all requisite action (corporate or otherwise), executed and
delivered by such parties and that such agreements or instruments are the legal,
valid, binding and enforceable obligations of such parties. As to questions of
fact material to our opinions, we have relied upon certificates of officers of
the Company and of public officials. We have not undertaken any independent
investigation to verify the accuracy or completeness of any of the foregoing
assumptions. </P>
<P align=justify>For purposes of this opinion letter, we have also assumed that
(a) the Registration Statement, and any amendments thereto (including
post-effective amendments), will have become effective and such effectiveness
will not have been terminated or rescinded, (b) all Securities will be offered,
issued and sold in compliance with applicable United States federal and state
securities laws and in the manner stated in the Registration Statement and the
prospectus supplement filed in Canada, (c) at the time of the issuance of Units
and the Warrant Shares, the Company will have sufficient common shares
authorized and unissued and not otherwise reserved for issuance, (d) at the time
of issuance of the Units and the Warrant Shares, the Company validly exists and
is duly qualified and in good standing under the laws of its jurisdiction of
incorporation, and has the necessary corporate power for such issuance, (e) at
the time of issuance of the Units and the Warrant Shares the then operative
constating documents of the Company (collectively, the &#147;<B>Charter
Documents</B>&#148;) are in full force and effect and have not been amended,
restated, supplemented or otherwise altered, and there has been no authorization
of any such amendment, restatement, supplement or other alteration, in either
case since the date hereof, (f) a warrant indenture in respect thereof with the
terms described in the Prospectus Supplement (a &#147;<B>Warrant Indenture</B>&#148;) and
the Underwriting Agreement have been duly authorized, executed and delivered by
the parties thereto and constitute legally valid and binding obligations of the
parties thereto, enforceable against each of them in accordance with their
respective terms, (g) the Warrant Indenture and Underwriting Agreement are
governed by Ontario law, (h) the issuance, terms, execution and delivery of the
Units and Warrant Shares (A) do not result in breaches of, or defaults under,
agreements or instruments to which the Company is bound or violations of
applicable statutes, rules, regulations or court or governmental orders, and (B)
comply with any applicable requirement or restriction imposed by any court or
governmental body having jurisdiction over the Company. We have not undertaken
any independent investigation to verify the accuracy or completeness of any of
the foregoing assumptions, (i) the board of directors or a duly appointed
committee thereof, will have taken all necessary corporate action, including the
adoption of a resolution or resolutions in form and content as required by
applicable law, to approve the issuance and terms of the Securities, the
consideration to be received therefor, to approve the Warrant Indenture and the
execution and delivery thereof, and related matters (the
&#147;<B>Authorization</B>&#148;), and (j) the Securities will have been duly authorized,
established certificated, executed, delivered, countersigned and registered, as
applicable, in accordance with the provisions of the Charter Documents,
applicable law, the Warrant Indenture and the Authorization. </P>
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<P align=justify>Based upon and subject to the foregoing, we are of the opinion
that: </P>
<P align=justify>1.&nbsp; The Common Shares and the Warrant Shares, when issued
in accordance with the provisions of the Underwriting Agreement and the Warrant
Indenture, respectively, including the receipt by the Company of the
consideration therefor will be duly authorized, validly issued, fully paid and
non-assessable securities of the Company.</P>
<P align=justify>2.&nbsp; The Warrants, when issued or otherwise distributed in
accordance with the provisions of the Warrant Indenture and the Underwriting
Agreement, will constitute valid and binding obligations of the Company,
enforceable against the Company in accordance with their terms.</P>
<P align=justify>Our opinions expressed herein are subject to the following
qualifications: </P>
<P align=justify>(a)&nbsp; the enforceability of any agreement may be limited by
bankruptcy, reorganization, winding-up, insolvency, moratorium, arrangement,
fraudulent preference and conveyance, assignment and preference and other
similar laws of general application affecting the enforcement of creditor&#146;s
rights;</P>
<P align=justify>(b)&nbsp; no opinion is given as to the enforceability of any
term providing for the severance of void, illegal or unenforceable provisions
from the remaining provisions of an agreement;</P>
<P align=justify>(c)&nbsp; no opinion is given as to the enforceability of any
term providing that modifications, amendments or waivers are not binding unless
in writing;</P>
<P align=justify>(d)&nbsp; no opinion is given with respect to rights to
indemnity and contribution;</P>
<P align=justify>(e)&nbsp; the enforceability of the obligations of a party
under any agreement is subject to general principles of equity, including,
without limitation:</P>
<P align=right>2</P>
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<P style="MARGIN-LEFT: 5%" align=justify>(i)&nbsp; concepts of materiality,
reasonableness, good faith and fair dealing in performance and enforcement of a
contract required of the party seeking its enforcement;</P>
<P style="MARGIN-LEFT: 5%" align=justify>(ii)&nbsp; the discretion exercisable
by a court with respect to equitable remedies, such as specific performance and
injunction;</P>
<P style="MARGIN-LEFT: 5%" align=justify>(iii)&nbsp; the discretion exercisable
by a court with respect to stays of enforcement proceedings and execution of
judgments;</P>
<P style="MARGIN-LEFT: 5%" align=justify>(iv)&nbsp; the effect of vitiating
factors, such as mistake, misrepresentation, fraud, duress or undue influence;
and</P>
<P style="MARGIN-LEFT: 5%" align=justify>(v)&nbsp; the discretion of a court
with respect to the enforcement of provisions in an agreement to the effect that
certain factual or legal determinations, calculations or certificates will be
conclusive and binding;</P>
<P align=justify>(f)&nbsp; a court may reserve to itself the right to decline
jurisdiction in any action if the court is an inconvenient forum to hear the
action or if concurrent proceedings are being brought elsewhere, notwithstanding
any waiver of the right to raise such objection or defence thereto;</P>
<P align=justify>(g)&nbsp; the right to exercise any unilateral or unfettered
discretion pursuant to an agreement will not prevent a court from requiring such
discretion to be exercised reasonably; and</P>
<P align=justify>(h)&nbsp; the recoverability of costs and expenses may be
limited to those a court considers to be reasonably incurred, the costs and
expenses incidental to all court proceedings are in the discretion of the court
and the court has the discretion to determine by whom and to what extent these
costs shall be paid.</P>
<P align=justify>The foregoing opinions are limited to the laws of the Province
of Ontario and the federal laws of Canada applicable therein on the date of this
opinion, and we are expressing no opinion as to the effect of the laws of any
other jurisdiction, domestic or foreign. </P>
<P align=justify>The opinion expressed in this letter is for the sole benefit of
the Company in connection with the Registration Statement. This opinion may not
be relied upon by, disclosed to, or filed with, any other person without our
prior written consent. Notwithstanding the foregoing, we hereby consent to the
filing of this opinion with the SEC as an exhibit to the Current Report on Form
8-K to be filed by the Company in connection with the offering. We also hereby
consent to the use of our name under the heading &#147;Legal Matters&#148; in the
Prospectus and Prospectus Supplement which forms part of the Registration
Statement. In giving this consent, we do not thereby admit that we are within
the category of persons whose consent is required under Section 7 of the Act or
the rules and regulations of the SEC promulgated thereunder. </P>
<P align=justify>This opinion is expressed as of the date hereof and unless
otherwise expressly stated, and we disclaim any undertaking to advise you of any
subsequent changes in the facts stated or assumed herein or of any subsequent
changes in applicable laws. </P>
<P align=justify>Very truly yours, </P>
<P align=justify>/s/ Borden Ladner Gervais LLP</P>
<P align=right>3</P>
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