U92 Energy Closes $8 Million Public Offering

U92 Energy Corp. announced the closing of a brokered public offering on August 12, 2026. The company issued 20,125,000 units at $0.40 per unit, including the full exercise of the over-allotment option, resulting in aggregate gross proceeds of $8,050,000. Each unit consists of one common share and one-half of one common share purchase warrant. Investor warrants are exercisable at $0.65 per share until August 12, 2030.

Broker warrants totaling 1,074,300 were issued to Haywood Securities Inc. and Jett Capital Advisors, exercisable at $0.40 per share until August 12, 2028. A concurrent non-brokered private placement of up to 3,750,000 units at $0.40 per unit is expected to close on or about August 19, 2026, raising up to $1,500,000. Total potential gross proceeds from both financings reach $9,550,000.

Net proceeds are designated for advancing the Kurupung uranium project in Guyana, paying deferred cash consideration for Guyana projects, and funding general working capital and corporate purposes. The offering remains subject to final TSX Venture Exchange approval.

U92 Energy Corp. (UTWO) closed its offering on August 6, 2026, following the filing of its final short-form prospectus and the subsequent upsizing of the private placement. The execution aligned with prior guidance, with the offering closing at the prospectus price of $0.40 and the over-allotment fully exercised to maximize capital raised.

The capital raise addresses the company's going-concern status and provides a clear runway to fund the inaugural 5,000-metre drill program and settle deferred acquisition liabilities. The issuance of approximately 23.875 million new shares represents approximately 54% dilution on the pre-offering share count, a standard step for a pre-revenue explorer advancing to the drilling phase. The market reaction, with the price settling at $0.35 on the closing date, reflects typical dilution absorption rather than a fundamental reassessment of the project's value. This news serves as a routine follow-up to previously disclosed financing plans, confirming management's ability to execute capital raises in the current market environment.

U92 Energy Corp. is a pre-revenue, exploration-stage uranium company focused on the Kurupung Project in Guyana. The company completed a qualifying reverse takeover transaction in January 2026, transitioning from Sprock-it Acquisitions Ltd. and continuing to Ontario.

The Kurupung Project encompasses a 92.2 km² land package in the Aricheng batholith, a well-established shear-hosted uranium district. Historical NI 43-101 estimates report 10.6 million pounds of Indicated and 10.0 million pounds of Inferred U₃O₈ at a 0.03% cut-off grade. The project has undergone over 129,000 metres of historical drilling, with significant upside potential in eight underexplored targets containing 14,000 metres of high-grade intersections outside the current resource.

Management is focused on validating and expanding the historical resource through an inaugural 5,000-metre drill program and a pit-constrained resource update targeted for H2 2026.