UraniumX Completes Oversubscribed Private Placement

UraniumX Discovery Corp., a Canadian junior uranium exploration company, has concluded an oversubscribed non-brokered private placement. The company issued 4,666,667 flow-through shares at $0.15 each, generating gross proceeds of $700,000.05. These flow-through shares are designed to support Canadian exploration expenses eligible for tax considerations under Canada's Income Tax Act.

The funds raised will be directed towards UraniumX's ongoing diamond drill program at the Murphy Lake Uranium Property. This step is part of UraniumX's broader strategy to enhance its exploration operations in Saskatchewan's Athabasca Basin. As part of the transaction, UraniumX issued finder's warrants valid for two years and paid an aggregate of $49,000 in finder's fees.

Securities from this offering come with a statutory hold period of four months and one day. The company's strategic use of these funds underlines its commitment to advancing its core properties while utilizing a project generator approach for non-core assets.