Xcite Announces Total Financing of $6.85M with Final Closing of Non-Brokered Financing & Welcomes Audley Capital

Executive Summary

• Xcite Resources Inc. closed the final tranche of its previously announced non‑brokered private placement, raising $200,000 by issuing 1,666,666 units at $0.12 per unit.
• The closing brings total gross proceeds from recent financing activities to $6,854,480, which will be used for uranium exploration and development in the Athabasca Basin and general corporate purposes.
• Audley Capital participated in the financing and is now a significant strategic shareholder of Xcite Resources.

Key Details

• Final Tranche Size: 1,666,666 units sold at $0.12 per unit → gross proceeds $200,000.
• Unit Composition: Each unit = one common share + one‑half of a common share purchase warrant; each warrant allows purchase of one common share at $0.20 after Jan 2 2026 until Nov 3 2029.
• Aggregate Financing to Date:
• Brokered offering (Canaccord Genuity): $1,596,800 (9,166,667 units @ $0.12 + 3,105,000 flow‑through common shares).
• Non‑brokered unit offerings: $4,947,200 (41,226,667 units).
• Non‑brokered flow‑through share offerings: $310,480 (1,940,500 FT shares).
• Total Gross Proceeds: $6,854,480.
• Use of Net Proceeds: Funding exploration and development activities on uranium projects in the Athabasca Basin; general corporate purposes.
• Statutory Hold Period: Units subject to a four‑month‑plus‑one‑day hold period expiring March 4 2026 per NI 45‑102.
• Finder’s Fees: None paid for this final tranche.
• Strategic Shareholder: Audley Capital participated in recent financings and is now a significant strategic shareholder.

Notable Quotes

• “The Company welcomes Audley Capital, which participated in the Company's recent financing transactions, as a significant strategic shareholder of the Company.” – Jean‑François Meilleur, CEO & Director.