UraniumX closes $4.31-million LIFE offering

Executive Summary

• UraniumX Discovery Corp. has closed an upsized Listed Issuer Financing Exemption (LIFE) offering, raising gross proceeds of $4.31 million.
• The company issued 21.55 million units at a price of $0.20 per unit, with each unit including one common share and one common share purchase warrant.
• Net proceeds will be utilized for general working capital and to advance exploration and development activities on the company's Murphy Lake, Zoo Bay, and NeoCore uranium properties in Saskatchewan's Athabasca basin.

Key Details

• Gross Proceeds: $4.31 million.
• Units Issued: 21.55 million units.
• Price Per Unit: $0.20 CAD.
• Warrant Terms: Each unit includes one common share purchase warrant. Each warrant entitles the holder to acquire one additional common share at an exercise price of $0.30 per share.
• Warrant Expiry: 36 months from the date of issuance.
• Warrant Exercise Start: Exercisable beginning 60 days following the closing of the LIFE offering.
• Use of Proceeds: General working capital and corporate purposes, specifically for advancing exploration and development on the Murphy Lake, Zoo Bay, and NeoCore uranium properties.
• Finders' Fees: The company paid an aggregate of $161,140 in cash finders' fees to arm's-length finders.
• Regulatory Basis: Conducted pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106.
• Hold Period: Securities are not subject to a statutory hold period under applicable Canadian securities laws.
• Investor Eligibility: Available to purchasers resident in Canada, excluding Quebec.

Notable Quotes

• "This financing represents a significant milestone for UraniumX. The strength of investor participation reflects growing confidence in our Athabasca basin portfolio and our technical approach. With a strengthened treasury, we are positioned to execute our 2026 exploration strategy and capitalize on the constructive fundamentals across the uranium sector." — Esen Boldkhuu, Chief Executive Officer