ReeXploration Announces Closing of $1,000,000 Private Placement

Executive Summary

• ReeXploration Inc. closed a private placement raising $1,000,000 in gross proceeds.
• The financing consists of 9,090,910 common shares at $0.11 per share and 636,363 compensation warrants priced at $0.11 per share, with a 24‑month exercise window.
• Proceeds will fund the next phase of exploration at the Eureka Project in Namibia, targeting a newly identified uranium zone slated for drilling in early 2026.

Key Details

• Financing Size: Aggregate gross proceeds of $1,000,000.
• Share Issuance: 9,090,910 common shares issued at $0.11 per share.
• Warrant Issuance: 636,363 compensation warrants granted to Numus Capital Corp., each allowing purchase of one share at $0.11, exercisable for 24 months from closing.
• Placement Agent Fee: Cash fee of $70,000 (7% of proceeds) paid to Numus Capital Corp. (registered Exempt Market Dealer).
• Related Party Transaction: The arrangement may be a related‑party transaction under MI‑61‑101; the company is relying on an exemption because related‑party elements do not exceed 25 % of market capitalization.
• Hold Period: All securities issued are subject to a hold period of four months and one day from closing.
• Use of Proceeds: Funding will support the next exploration phase at the Eureka Project in Namibia’s Erongo Mining District, specifically a drill program to test a newly identified uranium target in early 2026.

Notable Quotes

(No direct quotes were provided in the release.)