UraniumX Announces Closing Of Final Tranche Of Non-Brokered Private Placement
Rhea-AI Summary
UraniumX (OTC:STMXF) closed the final tranche of a non-brokered private placement on April 16, 2026, bringing aggregate gross proceeds to $1,162,200.07. Under the final tranche the company issued 660,000 flow-through shares at $0.17 per share for $112,200.
The FT Shares will qualify under subsection 66(15) of the Income Tax Act (Canada) and proceeds are earmarked for exploration at the Murphy Lake and Zoo Bay properties. Securities carry a statutory hold period expiring August 17, 2026, and the company paid $7,854 in finder’s fees for the final tranche.
Positive
- Aggregate proceeds of $1,162,200.07 raised
- $112,200 raised from 660,000 flow-through shares
- Proceeds directed to exploration at Murphy Lake and Zoo Bay
- FT Shares eligible for tax renunciation effective Dec 31, 2027
Negative
- Issued 660,000 FT shares may dilute existing holders
- Securities subject to 4 months + 1 day hold, expiring Aug 17, 2026
- Company paid $7,854 in finder’s fees for the final tranche
News Market Reaction – STMXF
In the Apr 17 session, STMXF declined 2.18%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
VANCOUVER, BC / ACCESS Newswire / April 16, 2026 / UraniumX Discovery Corp. (CSE:STMN)(OTCID:STMXF)(FSE:Q7S) (the "Company" or "UraniumX") announces that, further to its news release dated March 31, 2026, the Company has closed the final tranche of its non-brokered private placement (the "Offering"), bringing aggregate gross proceeds raised under the Offering to
Under this final tranche, the Company issued 660,000 flow through shares (each a "FT Share") at a price of
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
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