Myriad Uranium Announces Private Placement

Rhea-AI Summary

Myriad Uranium Corp. (MYRUF) has announced a non-brokered private placement to raise up to $1.5 million through the issuance of 6 million units priced at $0.25 per unit. Each unit comprises one common share and half of a share purchase warrant. Each whole warrant allows the purchase of one additional share at $0.35, valid for 24 months from issuance. The securities will have a four-month hold period under Canadian securities laws. The company plans to use the proceeds for mineral property exploration and general working capital. Finder's fees may be paid, and company insiders may participate in the offering.

Positive

• Raising up to $1.5 million in fresh capital for exploration and working capital
• Warrant exercise could bring additional future capital at $0.35 per share
• Insider participation possibility shows management confidence

Negative

• Potential dilution for existing shareholders
• Four-month hold period restricts immediate trading
• Offering price of $0.25 may represent a discount to market price

Vancouver, British Columbia--(Newsfile Corp. - June 12, 2025) - Myriad Uranium Corp. (CSE: M) (OTCQB: MYRUF) (FSE: C3Q) ("Myriad" or the "Company") is pleased to announce that it will be conducting a non-brokered private placement of up to 6,000,000 units (each, a "Unit") at a price of $0.25 per Unit (the "Financing") to raise gross proceeds of up to $1.5 million. Each Unit will consist of one common share of the Company (each, a "Share") and one-half of one Share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will entitle the holder to purchase one Share at a price of $0.35 for a period of twenty-four (24) months from the date of issuance.

Securities issued under the Financing will be subject to a four month hold period in accordance with applicable Canadian securities laws. The Company may pay finder's fees in connection with the Financing. Insiders of the Company may participate in the Financing. The Company intends to use the proceeds of the Financing for exploration of the Company's mineral properties and for general working capital.

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 eU3O8. 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, which has a near-surface historical resource (non-43-101) at grades from 1,700 to 3,100 ppm with significant upside potential. 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.

Myriad also has a 50% interest in the Millen Mountain Property in Nova Scotia, Canada, with the other 50% held by Probe Gold Inc. 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/255436

FAQ

How much money is Myriad Uranium (MYRUF) raising in its private placement?

Myriad Uranium is raising up to $1.5 million through the issuance of 6 million units at $0.25 per unit.

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

Each whole warrant allows the purchase of one additional share at $0.35, exercisable for 24 months from the date of issuance.

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

The proceeds will be used for exploration of the company's mineral properties and general working capital.

Can insiders participate in Myriad Uranium's private placement?

Yes, insiders of the company may participate in the private placement.

What is the hold period for securities issued in MYRUF's private placement?

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