American Marconi Wireless News - UraniumX Announces Closing Of Final Tranche Of Non-Brokered Private Placement

Under this final tranche, the Company issued 660,000 flow through shares (each a "FT Share") at a price of $0.17 per FT Share for gross proceeds of $112,200.

The FT Shares will qualify as "flow through shares" within the meaning of subsection 66(15) of the Income Tax Act (Canada). The Company intends to use the gross proceeds from the sale of FT Shares to incur Canadian exploration expenses which will be renounced to the subscribers in an amount not less than the subscription price of the FT Shares, effective December 31, 2027.

Proceeds from the Offering will be directed toward the Company's ongoing and planned exploration programs at the Murphy Lake and Zoo Bay properties.

All securities issued under the Offering are subject to a statutory hold period of four months and one day, expiring on August 17, 2026.

The Company paid finder's fees in the amount of $7,854.00 to an eligible finder in connection with the final tranche.

About UraniumX Discovery Corp.

UraniumX Discovery Corp. is a Canadian based uranium exploration company focused on advancing high potential assets in Saskatchewan's Athabasca Basin, one of the world's premier uranium districts. The Company's portfolio includes the Murphy Lake, Zoo Bay, and NeoCore uranium properties, strategically positioned along the eastern margin of the Basin near established infrastructure and high-grade deposits. UraniumX's exploration programs integrate geophysics, drilling, and academic research collaborations to enhance target generation and discovery potential.

On Behalf of UraniumX Discovery Corp.

Esen Boldkhuu, CEO

Contact:

UraniumX Discovery Corp.
Esen Boldkhuu, CEO
Email: [email protected]
Telephone: (604) 377-8994
Website: www.uraniumx.ca

Forward Looking Statements

This news release contains "forward looking information" and "forward looking statements" within the meaning of applicable Canadian securities laws (collectively, "forward looking statements"). All statements, other than statements of historical fact, included herein are forward looking statements. Forward looking statements in this release include, but are not limited to, statements regarding the Offering, the renunciation of exploration expenses, and the Company's future plans, objectives, and exploration activities.

Forward looking statements are based on reasonable assumptions, estimates, and opinions of management as of the date hereof and are subject to known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from those expressed or implied by such forward looking statements. These factors include, but are not limited to, the Company's inability to complete the Offering on the terms described herein or at all, fluctuations in market conditions, volatility in equity and capital markets, risks inherent in mineral exploration and development, environmental risks, reliance on key personnel, regulatory approvals, and changes in laws and regulations.

Readers are cautioned not to place undue reliance on forward looking statements. Except as required by applicable securities laws, the Company undertakes no obligation to update or revise any forward looking statements.

The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its regulation services provider accepts responsibility for the adequacy or accuracy of this release.

SOURCE: UraniumX Discovery Corp.

View the original press release on ACCESS Newswire

O.M.Souza--AMWN