Closing Of Non-Brokered Private Placement

Rhea-AI Summary

UraniumX Discovery Corp (OTCID:STMXF) closed the first tranche of a non-brokered private placement on March 31, 2026. The company issued 6,176,471 flow-through shares at $0.17 each for gross proceeds of $1,050,000.07.

Proceeds will fund exploration at Murphy Lake and Zoo Bay, with Canadian exploration expenses to be renounced to subscribers effective December 31, 2027. Securities are subject to a statutory hold until August 1, 2026. Finder's fees of $73,500 were paid in connection with the offering.

Positive

• Raised $1,050,000.07 via flow-through share issuance
• Issued 6,176,471 FT shares to fund exploration programs
• Proceeds earmarked for Murphy Lake and Zoo Bay exploration

Negative

• Paid $73,500 in finder’s fees on the Offering
• FT Shares subject to statutory hold until August 1, 2026

VANCOUVER, BC / ACCESS Newswire / March 31, 2026 / UraniumX Discovery Corp. (CSE:STMN)(OTCID:STMXF)(FSE:Q7S) (the "Company" or "UraniumX") is pleased to announce, further to its news release dated March 18, 2026, that it has closed the first tranche of thenon-brokered private placement. The Company issued an aggregate of 6,176,471 flow through shares (each a "FT Share") at a price of $0.17 per FT Share for aggregate gross proceeds of $1,050,000.07 (the "Offering")

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 hold period expiring on August 1, 2026.

The Company paid finder's fees in the aggregate amount of $73,500.00 cash to eligible finder's in connection with the Offering.

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: info@uraniumx.ca
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

FAQ

How many shares and how much did UraniumX (STMXF) raise in the March 31, 2026 private placement?

UraniumX raised gross proceeds of $1,050,000.07 by issuing 6,176,471 flow-through shares at $0.17 each. According to the company, this represents the first tranche of the non-brokered private placement to fund exploration.

What will UraniumX (STMXF) use the $1,050,000.07 from the Offering for?

The proceeds will be used to fund exploration at the Murphy Lake and Zoo Bay properties. According to the company, funds will be directed to ongoing and planned exploration programs at those sites.

When will UraniumX (STMXF) renounce the exploration expenses for the flow-through shares?

UraniumX will renounce Canadian exploration expenses effective December 31, 2027. According to the company, renouncement will be at least equal to the subscription price of the FT Shares.

When do the statutory hold periods on the FT Shares for UraniumX (STMXF) expire?

All securities issued under the Offering are subject to a four-month-and-one-day hold period expiring on August 1, 2026. According to the company, shareholders cannot trade the FT Shares until that date.

Did UraniumX (STMXF) pay any finder’s fees related to the private placement and how much were they?

The company paid aggregate finder’s fees of $73,500 in cash in connection with the Offering. According to the company, these fees were paid to eligible finders who facilitated the tranche closing.