LIFE Offering Closed
UraniumX Discovery Corp. announces the closing of its Listed Issuer Financing Exemption (LIFE) offering, raising gross proceeds of C$4,310,000 through the issuance of 21,550,000 units at a price of C$0.20 per unit.
Unit Structure
Each unit consists of:
- One common share of the Company
- One-half of one common share purchase warrant, with each whole warrant exercisable at C$0.30 per share for a period of 24 months from closing
Use of Proceeds
The net proceeds will be used to fund:
- Exploration programs at Murphy Lake, Zoo Bay, and NeoCore properties
- Ground geophysical surveys including MLEM and gravity programs
- General working capital and corporate purposes
Capital Structure
Following the closing, the Company has approximately 85.64 million shares outstanding and cash of approximately C$4.31 million, providing the Company with the capital to execute its planned near-term exploration programs.
Funded for 2026 Programs
"This financing provides UraniumX with the capital to advance exploration across our three-property portfolio in the Athabasca Basin," said CEO Esen Boldkhuu. "We are funded for our planned 2026 field programs, including the anticipated Spring drill campaign at Murphy Lake and the ground gravity survey at Zoo Bay. Additional financing may be required for continued operations beyond these planned programs."
Mineral Resource Cautionary: The Company has not defined any mineral resources or mineral reserves on any of its properties. There is no guarantee that exploration will result in the discovery of an economic mineral deposit.
Adjacent Properties: References to mineralization, deposits, mines, and resources on adjacent or nearby properties are for geological context only. Mineralization on adjacent properties is not necessarily indicative of mineralization on the Company's properties.