Exgen Closes First Tranche of Private Placement
ExGen raises $805k to advance Nevada lithium projects and silver streams while expanding exploration across the Golden Triangle.
ExGen Resources Inc. (EXG) closed the first tranche of its previously announced non-brokered private placement on June 25, 2026. The company issued 8,050,000 units at $0.10 per unit, generating $805,000 in gross proceeds. Each unit comprises one common share and one-half warrant, with warrants exercisable at $0.15 per share for a two-year term. These warrant terms were amended from the June 9, 2026 announcement to extend the exercise period and remove the previous acceleration clause.
The proceeds are designated for exploration on ExGen’s properties, potential future acquisitions, and general working capital. A second tranche is anticipated to close around July 9, 2026, subject to TSX Venture Exchange approval. Securities carry a hold period expiring on October 26, 2026, and a 3% finder’s fee was paid in cash.
ExGen Resources Inc. (EXG) closed the first tranche of its financing, an expected execution of the June 9, 2026 announcement. The transaction provides necessary working capital to advance the newly acquired Nevada lithium properties and fund ongoing exploration.
The company amended the warrant terms, extending the term to two years and removing the acceleration clause. This adjustment serves as a concession to investors, reducing immediate dilution pressure while signaling management's willingness to adjust terms to secure capital.
The $805,000 raise is modest relative to the company's asset expansion, which includes the Nevada lithium acquisition and silver stream commitments. The funds extend the company's runway but do not fundamentally alter the capital structure or valuation.
ExGen Resources Inc. (EXG) operates a "Project Accelerator" model, acquiring discounted exploration-stage assets, advancing them through funding and partnerships, and retaining minority interests, royalties, or streaming rights. The company’s flagship assets include the Empire Mine, a 20% carried interest in Idaho’s copper-gold-silver project, as well as the Spark North and newly acquired Spark South, Libra, and Augusta lithium projects in Nevada. Its portfolio also encompasses the Telegraph and Southmore copper-gold projects in British Columbia’s Golden Triangle.
The company is strategically transitioning toward a streaming and royalty model, evidenced by recent silver stream agreements with Sol de Oro Mining and a second private silver stream.