Myriad Uranium Announces Increased Private Placement

Rhea-AI Summary

Myriad Uranium (OTCQB: MYRUF) has expanded its previously announced non-brokered private placement from $125,000 to $550,000. The company will issue up to 2.2 million units at $0.25 per unit, with each unit consisting of one common share and a half warrant. Each full warrant allows purchasing one share at $0.35 within 24 months.

Three board members, including CEO Thomas Lamb, Tom Lee, and Simon Clarke, will participate in the financing. The proceeds will be used for general working capital as the company advances its Copper Mountain and Red Basin projects. The securities will be subject to a four-month hold period, and the company expects to pay finder's fees.

Positive

• Significant increase in private placement size from $125,000 to $550,000
• Participation from institutional investors and board members showing insider confidence
• Warrants provide potential additional funding at $0.35 per share

Negative

• Dilution of existing shareholders through new share issuance
• Shares and warrants subject to four-month hold period limiting liquidity

Vancouver, British Columbia--(Newsfile Corp. - September 16, 2025) - Myriad Uranium Corp. (CSE: M) (OTCQB: MYRUF) (FSE: C3Q) ("Myriad" or the "Company") is pleased to announce that it has increased its previously disclosed non-brokered private placement financing (the "Financing") (see Myriad's news release dated August 20, 2025), from gross proceeds of $125,000 to gross proceeds of up to $550,000. Under the increased Financing, the Company will issue up to 2,200,000 units (each, a "Unit") at $0.25 per Unit. Each Unit will comprise one common share of the Company (each, a "Share") and one-half of one common share purchase warrant (each full warrant, a "Warrant"), with each Warrant entitling the holder to purchase one Share at an exercise price of $0.35 for a period of twenty-four (24) months from the date of issuance.

Myriad's CEO Thomas Lamb commented "Given our decision to open the financing to include a key institutional investor, we also felt it appropriate to accommodate several other important investors through this small raise. Three board members—Tom Lee, Simon Clarke, and myself—will also be participating. The additional capital strengthens our flexibility as we build on the excellent results at Copper Mountain and advance Red Basin."

Securities issued under the Financing will be subject to a four month hold period in accordance with applicable Canadian securities laws. The Company anticipates paying finder's fees and issuing finder's warrants in connection with the Financing. The Company intends to use the proceeds of the Financing for general working capital.

Directors of the Company will participate in the Financing, and such participation is considered to be a "related party transaction" as defined under Multilateral Instrument 61-101 ("MI 61-101"). This participation will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as the fair market value of such participation does not exceed 25% of the market capitalization of the Company, as determined in accordance with MI 61-101.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described in this news release in the United States. Such securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and, accordingly, may not be offered or sold within the United States, or to or for the account or benefit of persons in the United States or "U.S. Persons", as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.

About Myriad Uranium Corp.

Myriad Uranium Corp. is a uranium exploration company with an earnable 75% interest in the Copper Mountain Uranium Project in Wyoming, USA. Copper Mountain hosts several known uranium deposits and historic uranium mines, including the Arrowhead Mine which produced 500,000 lbs of U₃O₈. Copper Mountain saw extensive drilling and development by Union Pacific during the late 1970s including the development of a mine plan to fuel a planned fleet of California Edison reactors. Operations ceased in 1980 before mining could commence due to falling uranium prices. Approximately 2,000 boreholes have been drilled at Copper Mountain and the project area has significant exploration upside. Union Pacific is estimated to have spent C$117 million (2024 dollars) exploring and developing Copper Mountain, generating significant historical resource estimates which are detailed here. The Company also recently acquired, subject to completing a geophysical survey this year, a 100% interest in the Red Basin Uranium Project in New Mexico. The announcement regarding the acquisition can be viewed here and a subsequent announcement regarding an expansion of the Company's acreage to encompass ~800 of 1,050 historical boreholes in the basin can be viewed here. Our Crux Investor overview page including recent interviews can be viewed here. The Company's presentation can be viewed here. News releases regarding historical drilling can be viewed here and here. The final news release regarding chemical assays of 2024 Copper Mountain drilling can be viewed here.

For further information, please refer to Myriad's disclosure record on SEDAR+ (www.sedarplus.ca), contact Myriad by telephone at +1.604.418.2877, or refer to Myriad's website at www.myriaduranium.com.

Myriad Contacts:
Thomas Lamb
President and CEO
tlamb@myriaduranium.com

Forward-Looking Statements

This news release contains "forward-looking information" that is based on the Company's current expectations, estimates, forecasts and projections. This forward-looking information includes, among other things, the Company's business, plans, outlook and business strategy. The words "may", "would", "could", "should", "will", "likely", "expect," "anticipate," "intend", "estimate", "plan", "forecast", "project" and "believe" or other similar words and phrases are intended to identify forward-looking information. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect, including with respect to the Company's business plans respecting the exploration and development of the Company's mineral properties, the proposed work program on the Company's mineral properties and the potential and economic viability of the Company's mineral properties. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: changes in economic conditions or financial markets; increases in costs; litigation; legislative, environmental and other judicial, regulatory, political and competitive developments; and technological or operational difficulties. This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully, and readers should not place undue reliance on such forward-looking information. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable law.

The CSE has not reviewed, approved or disapproved the contents of this news release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/266760

FAQ

What is the size of Myriad Uranium's (MYRUF) increased private placement?

Myriad Uranium has increased its private placement from $125,000 to $550,000, issuing up to 2.2 million units at $0.25 per unit.

What are the terms of MYRUF's private placement units?

Each unit at $0.25 includes one common share and one-half warrant, with each full warrant exercisable at $0.35 for 24 months.

Who is participating in Myriad Uranium's private placement?

The private placement includes participation from a key institutional investor and three board members: CEO Thomas Lamb, Tom Lee, and Simon Clarke.

How will Myriad Uranium use the proceeds from the private placement?

The proceeds will be used for general working capital as the company advances its Copper Mountain and Red Basin projects.

What restrictions apply to the securities issued in MYRUF's private placement?

The securities will be subject to a four-month hold period in accordance with Canadian securities laws.