ReeXploration Announces $1,000,000 Private Placement

On December 15, 2025, ReeXploration announced a non-brokered private placement to raise gross proceeds of $1,000,000. The financing consists of 9,090,910 common shares at a price of $0.11 per share. The stated use of proceeds is to fund a drill program on a newly identified uranium target at the Eureka Project in Namibia in early 2026, as well as for general working capital. The company may pay finders' fees of up to 7% cash ($70,000) and 7% in warrants (636,364 warrants) exercisable at $0.11 for 24 months.

This financing is a necessary and expected development. The company explicitly stated in its December 12 news release that the planned 2,000-metre uranium drill program was "subject to financing." This announcement confirms the company has secured the required capital to execute its primary near-term catalyst.

• Valuation Context: The financing price of $0.11 per share represents a 21% discount to the prior trading day's close of $0.14. While dilutive, this is a typical discount for a junior exploration company securing capital without a bought-deal commitment. Critically, this price is more than double the $0.05 price of the financing closed just three months prior in September 2025, reflecting the positive market reaction to the company's shift in focus to uranium exploration.
• Financial Position: Analysis of the September 30, 2025 financials reveals a precarious cash position with only $773k in cash against $872k in accounts payable, resulting in a working capital deficit. This $1M infusion is vital to clean up the balance sheet and, more importantly, fully fund the planned drill program, which is estimated to cost approximately $800k-$1M.
• Strategic Execution: The sequence of news is logical and shows competent management. The company first identified the uranium potential (Nov 12), then released promising surface work results to build a case for drilling (Dec 12), and immediately followed up with the necessary funding (Dec 15). This de-risks the company's operational plan for the next 6-9 months.

The news is rated Routine - Positive. It is routine in the sense that capital raises are a standard and recurring event for exploration companies. It is positive because it was executed at a significantly higher valuation than the previous round and provides the means to test a high-impact uranium target, which is the market's current focus for the company.

ReeXploration Inc., formerly E-Tech Resources, is a Canadian junior exploration company focused on its flagship Eureka Project in the Erongo Mining District of Namibia. The project is strategically located in a world-class mining jurisdiction, on trend with major uranium deposits like Rössing and Husab.

Historically, the company's focus was on Rare Earth Elements (REE), and it established a maiden NI 43-101 inferred resource in 2021 (310,000 tonnes at 4.8% TREO). However, in the latter half of 2025, the company amended its license to include nuclear fuels and has since shifted its primary focus to exploring a newly identified, large-scale uranium target located southwest of its known REE mineralization. The property is subject to a 1.5% gross value royalty payable to KGD.