UraniumX Closes First Tranche of Flow-Through Private Placement
UraniumX Discovery Corp. (CSE: STMN) (OTCID: STMXF) (FSE: Q7S) announces the closing of the first tranche of its non-brokered private placement of flow-through shares.
Transaction Details
- Issued 6,176,471 flow-through shares at $0.17 per share
- Aggregate gross proceeds of $1,050,000.07
- Finder's fees of $73,500.00 in cash paid in connection with the offering
- All securities issued are subject to a four-month statutory hold period expiring August 1, 2026
Use of Proceeds
- Proceeds will be used to incur eligible "Canadian exploration expenses" that qualify as "flow-through mining expenditures"
- Expenditures will be directed toward the Company's ongoing and planned exploration programs at the Murphy Lake and Zoo Bay properties in Saskatchewan's Athabasca Basin
- Exploration expenses will be renounced to subscribers effective December 31, 2027
About UraniumX
UraniumX Discovery Corp. is a Canadian junior exploration company focused on uranium exploration in Saskatchewan's Athabasca Basin. The Company holds the Murphy Lake, Zoo Bay, and NeoCore properties along the basin's eastern margin, totalling approximately 33,471 hectares.
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.