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Capital elevate helps upcoming drill program focusing on newly recognized uranium system alongside Namibia’s premier uranium hall
ReeXploration Inc. (TSXV: REE) (FSE: K2I0) (“ReeXploration” or the “Firm”) is happy to announce a non-public placement for combination gross strategy of as much as $1,000,000 (the “Financing”) to assist the subsequent section of exploration at its Eureka Challenge situated in Namibia’s Erongo Mining District, the nation’s premier uranium hall. Proceeds from the financing can be used primarily to fund a drill program designed to check a newly recognized and highly-prospective uranium goal in early 2026, together with common working capital.
As disclosed within the Firm’s press releases dated December 12, 2025, and November 12, 2025, the Firm recognized a brand new massive scale uranium goal instantly southwest of the Eureka Dome. The invention is on pattern to main uranium deposits like Rössing, Husab, Etango, Omaholo, and Norasa in an space host to one of many world’s most prolific uranium belts.
The Financing will comprise of as much as 9,090,910 shares of the Firm (every, a “Share“) at $0.11 per Share. To facilitate the Financing, the Firm has entered into an settlement with Numus Capital Corp., a registered Exempt Market Vendor, to behave as agent for the Financing. The Firm has agreed to pay to the agent a money payment equal to 7% of proceeds raised and to concern compensation warrants entitling the agent to buy that variety of Shares as is the same as 7% of the Shares from traders launched by the agent, besides on subscriptions acquired from administrators, officers, and workers of the Firm and their associates and associates. Every compensation warrant can be exercisable right into a Share of the Firm at $0.11 per share for a interval of 24 months from closing.
Completion of the Financing is topic to the satisfaction of sure situations, together with the approval of the TSX Enterprise Alternate, and all securities issued pursuant to the Financing can be topic to a four-month and in the future maintain interval.
The engagement of Numus Capital Corp. and the Financing could represent Associated Celebration Transactions beneath Multilateral Instrument 61-101 Safety of Minority Safety Holders in Particular Transactions (“MI-61-101”). The Firm is relying upon an exemption for shareholder approval required beneath part 5.7(1)(a) of MI 61-101 on the premise that any associated social gathering parts of such transactions wouldn’t exceed 25% of market capitalization of the Firm.
About ReeXploration Inc.
ReeXploration (TSXV: REE) (FSE: K2I0) is a Canadian exploration firm positioned to assist meet surging international demand for safe, accountable provides of crucial minerals important to the clear power transition, superior applied sciences and nationwide protection. The Firm’s flagship Eureka Challenge in central Namibia pairs a technically confirmed uncommon earth basis – supported by the manufacturing of a clear, Western-standard monazite focus – with a newly outlined, high-priority uranium goal situated inside one of many world’s most established uranium corridors. Collectively, these commodities present multi-path discovery potential aligned with accelerating international efforts to diversify crucial mineral and nuclear gas provide. Supported by a Namibia-based technical workforce and guided by international crucial minerals consultants, ReeXploration is advancing a disciplined, discovery-led technique, constructing a reputable, ESG-aligned platform positioned to learn from the worldwide race to diversify and safe accountable provide chains.
Warning Relating to Ahead-Trying Info
This press launch could comprise forward-looking data. This data relies on present expectations and assumptions (together with assumptions regarding common financial and market situations) which can be topic to vital dangers and uncertainties which can be tough to foretell. Precise outcomes could differ materially from outcomes steered in any forward-looking data. ReeXploration doesn’t assume any obligation to replace forward-looking data on this launch, or to replace the explanation why precise outcomes may differ from these mirrored within the forward-looking data until and till required by securities legal guidelines relevant to ReeXploration. Further data figuring out dangers and uncertainties is contained within the filings made by ReeXploration with Canadian securities regulators, which filings can be found at www.sedarplus.ca.
Neither the TSX Enterprise Alternate nor its Regulation Companies Supplier (as that time period is outlined in insurance policies of the TSX Enterprise Alternate) accepts duty for the adequacy or accuracy of this launch.
To view the supply model of this press launch, please go to https://www.newsfilecorp.com/launch/278004
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