Upsized LIFE Offering
UraniumX Discovery Corp. is pleased to announce the upsizing of its previously announced Listed Issuer Financing Exemption (LIFE) offering to gross proceeds of approximately C$4.31 million.
Offering Details
- Gross proceeds: C$4.31 million (upsized from original amount)
- Units issued: 21,550,000 units at C$0.20 per unit
- Each unit consists of one common share and one-half of one common share purchase warrant
- Each whole warrant entitles the holder to purchase one additional common share
The offering was completed under the Listed Issuer Financing Exemption pursuant to Part 5A of National Instrument 45-106.
Use of Proceeds
The net proceeds from the offering will be used to fund:
- Murphy Lake MLEM survey and planned Spring 2026 drill program
- Zoo Bay ground gravity survey (2,500 stations)
- NeoCore research program with the University of Saskatchewan
- General working capital and corporate purposes
Strategic Impact
"The strong investor response to this offering reflects growing confidence in our exploration strategy and the uranium market outlook," said CEO Esen Boldkhuu. "We now have the capital to execute our planned Spring 2026 exploration programs across all three properties. The upsizing demonstrates meaningful demand from investors who recognize the value of our Athabasca Basin portfolio."
Capital Structure
Following completion of the offering, the Company has approximately 85.64 million shares outstanding and a working capital position of approximately C$4.31 million.
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.