UraniumX raises $700,000 in oversubscribed private placement

UraniumX Discovery Corp. (CSE:STMN)(OTCQB: STMXF)(FSE:Q7S) completed an oversubscribed non-brokered private placement, issuing 4,666,667 flow-through shares at $0.15 per share for gross proceeds of $700,000.05.

The flow-through shares qualify under Canada's Income Tax Act, with proceeds designated for eligible Canadian exploration expenses that qualify as flow-through critical mineral mining expenditures. The company will renounce these expenses to subscribers by December 31, 2026, with expenditures to be incurred by December 31, 2027.

Proceeds will fund the company's ongoing diamond drill program at the Murphy Lake Uranium Property in Saskatchewan's Athabasca Basin. UraniumX is earning up to a 70% interest in Murphy Lake through an option agreement with F4 Uranium Corp.

The company paid $49,000 in finder's fees and issued 326,666 finder's warrants to two finders. Each warrant is exercisable for two years at $0.175 per warrant. All securities issued are subject to a four-month and one-day statutory hold period.

UraniumX also holds 100% interests in the Zoo Bay and NeoCore uranium properties in the Athabasca Basin. The company operates as a project generator, optioning non-core assets while retaining royalties and equity to concentrate exploration capital on Murphy Lake.

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