ExGen Announces TSXV Approval of Extension and Upsize of Private Placement and Provides Corporate Update
ExGen upsizes its $1 million financing and secures the BC MacRex property at a reduced cost.
ExGen Resources Inc. (EXG) received approval from the TSX Venture Exchange for the extension and upsizing of a non-brokered private placement. The offering consists of 10,081,000 units priced at $0.10 per unit, generating gross proceeds of $1,081,000. The second tranche of the financing is expected to close around August 21, 2026.
The company also amended and exercised its option to earn a 100% interest in the MacRex property in British Columbia by paying $200,000. This payment satisfied all remaining cash and exploration expenditure obligations under the original option agreement. The amendment saved ExGen $350,000 in cash payments and $1,500,000 in required exploration expenditures. CEO Jason Riley stated that the financing provides treasury flexibility and that the MacRex amendment was a favorable negotiation.
ExGen Resources Inc. (EXG) announced a financing that serves as a routine follow-up to its June 9, 2026 announcement and the June 25, 2026 first tranche closing. The upsizing is marginal, totaling $81,000, and does not alter the capital raise's original purpose.
The company also finalized an amendment to the MacRex property, an expected milestone stemming from the July 2025 option agreement. This development removes future cash and exploration burdens.
The news contains no genuinely new, unexpected, or market-moving information, confirming only planned corporate actions and property milestones. Dilution remains within previously disclosed parameters. The company remains pre-revenue and reliant on equity markets for liquidity.
ExGen Resources Inc. (EXG) operates as a pre-revenue project accelerator and royalty and streaming company. Its strategy involves acquiring discounted mineral assets, advancing them through exploration and joint ventures, and retaining minority interests, royalties, or streaming rights to minimize downside while preserving upside.
The company’s flagship assets include the Empire Mine in Idaho, a development-stage copper-gold project with a 2020 NI 43-101 resource and open-pit mine plan, in which ExGen holds a 20% carried interest. In Nevada, the company holds the Spark North and Spark South Lithium Projects located in the Elko County lithium district, adjacent to Surge Battery Metals' Nevada North Lithium Project. In British Columbia, ExGen recently acquired a 100% interest in the MacRex Property, a copper-gold-silver project in the Alberni Mining District. Additionally, the company acquired the Telegraph and Southmore Projects via the MTB Metals merger; these assets feature district-scale porphyry targets and high-grade surface samples.
Management is led by CEO Jason Riley, with CFO Jason Tong, who holds CPA, CA, and CFA designations. The board of directors includes Mark Swartout, Arlen Grove, and Kieran Downes.