en.Wedoany.com Reported - Canadian uranium exploration company UraniumX has completed an oversubscribed non-brokered private placement, raising $700,000 for ongoing diamond drilling at its Murphy Lake uranium project in the Athabasca Basin, Saskatchewan.

The company issued 4.6 million flow-through shares at a price of $0.15 per share. The Athabasca Basin is one of Canada's most active uranium mining regions.

Through an option agreement with F4 Uranium Corporation, UraniumX has the right to acquire up to a 70% interest in the Murphy Lake project. The company also holds 100% interests in the Zoo Bay and NeoCore uranium assets, and advances a project generator model by optioning non-core assets from its broader portfolio (while retaining royalties and equity), enabling exploration capital to be concentrated on the Murphy Lake project.

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