On February 13, 2026, UraniumX Discovery Corp. (CSE: STMN), a junior mineral exploration company headquartered in Vancouver, Canada, announced the successful completion of its upsized Listed Issuer Financing Exemption (LIFE) offering, raising a total of $4.31 million. This financing will provide funding for the company's uranium asset exploration activities in the Athabasca Basin.
Esen Boldkhuu, CEO of UraniumX, stated, "This financing marks a significant step in the company's development. The active participation of investors demonstrates increased confidence in our asset portfolio and technical strategy. With the funds secured, we will execute our 2026 exploration plan and capitalize on the favorable market conditions in the uranium sector."
Under the terms of the offering, UraniumX issued 21,550,000 units at a price of $0.20 per unit. Each unit consists of one common share and one warrant. Each warrant entitles the holder to purchase one additional common share at a price of $0.30 per share for a period of 36 months following the closing of the offering, exercisable 60 days after closing.
This LIFE offering was conducted in accordance with Canadian National Instrument 45-106 and is available to investors across Canada (excluding Quebec). The securities issued are not subject to a statutory hold period. The proceeds will be used for general working capital and corporate purposes, with a focus on advancing the exploration and development of the Murphy Lake, Zoo Bay, and NeoCore uranium projects located in the Athabasca Basin of Saskatchewan.
UraniumX's core assets are located on the eastern edge of the Athabasca Basin, a region renowned for high-grade uranium deposits. Through an option agreement, the company can earn up to a 70% interest in the Murphy Lake project, which is adjacent to the Wollaston Domain and has shown anomalous radioactivity verified by drilling. Furthermore, the company holds 100% ownership of the Zoo Bay and NeoCore projects, covering 19,850 hectares and 13,012 hectares respectively, situated in highly prospective areas with established infrastructure.
The company's exploration strategy integrates geophysical surveys, drilling operations, and collaborative research with the University of Saskatchewan, utilizing quartz degradation analysis to optimize target selection. The completion of this LIFE financing is expected to accelerate UraniumX's uranium exploration process in the Athabasca Basin, supporting the company's goal of resource discovery.
