Capital raise supports upcoming drill program targeting newly identified uranium system along Namibia’s premier uranium corridor
ReeXploration Inc. (TSXV: REE) (FSE: K2I0) (“ReeXploration” or the “Company”) is pleased to announce a private placement for aggregate gross process of up to $1,000,000 (the “Financing”) to support the next phase of exploration at its Eureka Project located in Namibia’s Erongo Mining District, the country’s premier uranium corridor. Proceeds from the financing will be used primarily to fund a drill program designed to test a newly identified and highly-prospective uranium target in early 2026, along with general working capital.
As disclosed in the Company’s press releases dated December 12, 2025, and November 12, 2025, the Company identified a new large scale uranium target immediately southwest of the Eureka Dome. The discovery is on trend to major uranium deposits like Rössing, Husab, Etango, Omaholo, and Norasa in an area host to one of the world’s most prolific uranium belts.
The Financing will comprise of up to 9,090,910 shares of the Company (each, a “Share”) at $0.11 per Share. To facilitate the Financing, the Company has entered into an agreement with Numus Capital Corp., a registered Exempt Market Dealer, to act as agent for the Financing. The Company has agreed to pay to the agent a cash fee equal to 7% of proceeds raised and to issue compensation warrants entitling the agent to purchase that number of Shares as is equal to 7% of the Shares from investors introduced by the agent, except on subscriptions received from directors, officers, and employees of the Company and their affiliates and associates. Each compensation warrant will be exercisable into a Share of the Company at $0.11 per share for a period of 24 months from closing.
Completion of the Financing is subject to the satisfaction of certain conditions, including the approval of the TSX Venture Exchange, and all securities issued pursuant to the Financing will be subject to a four-month and one day hold period.
The engagement of Numus Capital Corp. and the Financing may constitute Related Party Transactions under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI-61-101”). The Company is relying upon an exemption for shareholder approval required under section 5.7(1)(a) of MI 61-101 on the basis that any related party elements of such transactions would not exceed 25% of market capitalization of the Company.
About ReeXploration Inc.
ReeXploration (TSXV: REE) (FSE: K2I0) is a Canadian exploration company positioned to help meet surging global demand for secure, responsible supplies of critical minerals essential to the clean energy transition, advanced technologies and national defense. The Company’s flagship Eureka Project in central Namibia pairs a technically proven rare earth foundation – supported by the production of a clean, Western-standard monazite concentrate – with a newly defined, high-priority uranium target located within one of the world’s most established uranium corridors. Together, these commodities provide multi-path discovery potential aligned with accelerating global efforts to diversify critical mineral and nuclear fuel supply. Supported by a Namibia-based technical team and guided by global critical minerals experts, ReeXploration is advancing a disciplined, discovery-led strategy, building a credible, ESG-aligned platform positioned to benefit from the global race to diversify and secure responsible supply chains.
Caution Regarding Forward-Looking Information
This press release may contain forward-looking information. This information is based on current expectations and assumptions (including assumptions relating to general economic and market conditions) that are subject to significant risks and uncertainties that are difficult to predict. Actual results may differ materially from results suggested in any forward-looking information. ReeXploration does not assume any obligation to update forward-looking information in this release, or to update the reasons why actual results could differ from those reflected in the forward-looking information unless and until required by securities laws applicable to ReeXploration. Additional information identifying risks and uncertainties is contained in the filings made by ReeXploration with Canadian securities regulators, which filings are available at http://www.sedarplus.ca.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/278004
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