Vatic Ventures arranges $1.54-million financing
Vatic secures $1.54m financing to advance its Namibia uranium options amid broader industry liquidity challenges.
Vatic Ventures Corp. announced a non-brokered private placement of up to 22,000,000 units priced at $0.07 per unit, targeting gross proceeds of up to $1,540,000. Each unit consists of one common share and one-half of a common share purchase warrant. The warrants are exercisable at $0.12 per share for a period of 24 months from the date of issue.
The net proceeds from the financing will be designated for option payments on the Zoya and Galore uranium properties in Namibia, as well as for working capital and general corporate purposes. The securities carry a restrictive legend of four months plus one day. The financing remains subject to final approval by the TSX Venture Exchange.
Vatic Ventures Corp. (VCV) secured financing to address a precarious balance sheet, having reported just $126 in cash and a net working capital deficiency of $1,739,063 as of May 31, 2026. The transaction serves as a necessary follow-up to the June acquisition announcement, providing essential liquidity to fund the initial cash payments required under the option agreements for the Zoya and Galore properties, which were conditionally approved in June 2026.
The shares were issued at $0.07, a price point that matches the current trading range and indicates fair market pricing without significant discounting, although the move remains highly dilutive. While the deal secures the company's ability to pursue the uranium assets, it does not alter the fundamental pre-revenue, high-risk nature of the business.
Vatic Ventures Corp. is a pre-revenue mineral exploration company headquartered in Vancouver, BC. The company is pivoting its focus toward uranium exploration in Namibia's Erongo province. Its flagship assets include options to acquire interests in the Zoya (EPL 8289) and Galore (EPL 8735) properties. These properties are located less than 50km from Swakopmund, adjacent to major producing uranium mines Rossing and Husab.
The company previously held lithium and gold properties, including Solonópole South, Hansen Gold, and Sister's Mountain. The latter two were fully written off due to litigation and lack of resources. Management emphasizes the long-term supply-demand gap in uranium and the strategic location of the Namibian assets.