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U92 Energy Corp. (TSXV: UTWO,OTC:UNTEF) ("U92" or the "Company") is pleased to announce the closing of its previously announced brokered public offering (the "Public Offering") of 20,125,000 units of the Company (the "Units") at a price of $0.40 per Unit (the "Offering Price"), including 2,625,000 Units issued as a result of the full exercise of the over-allotment option granted to the Agents, for aggregate gross proceeds to the Company of $8,050,000.
The Public Offering was completed pursuant to an agency agreement dated August 6, 2026 among the Company, Haywood Securities Inc. and Jett Capital Advisors, LLC, as co-lead agents, and Ventum Financial Corp. (collectively, the "Agents").
Each Unit was comprised of one common share of the Company (each, a "Share") and one-half of one common share purchase warrant (each whole common share purchase warrant, a "Warrant"). Each Warrant entitles the holder to acquire one Share at an exercise price of $0.65 per Share until August 12, 2030.
The net proceeds from the Public Offering will be used to advance U92's Kurupung uranium project in Guyana, for payment of deferred cash consideration for the Guyana projects and for general working capital and corporate purposes, as more particularly disclosed in the Company's short form prospectus dated August 6, 2026.
In connection with the Public Offering, the Agents received an aggregate cash commission of $429,720 and 1,074,300 broker warrants (the "Broker Warrants") to purchase up to 1,074,300 common shares of the Company (the "Broker Warrant Shares"). Each Broker Warrant is exercisable to acquire one Broker Warrant Share at the Offering Price until August 12, 2028. The Public Offering is subject to final approval by the TSX Venture Exchange (the "TSXV").
The Company also announces that it expects to close its previously announced non-brokered private placement of up to 3,750,000 Units at the Offering Price for gross proceeds of up to $1,500,000, as announced on July 23, 2026 and August 6, 2026, on or about August 19, 2026 or such other date as determined by the Company. The Company previously upsized the non-brokered private placement from $1,000,000 (2,500,000 Units) to $1,500,000 (3,750,000 Units), as announced on August 6, 2026. The non-brokered private placement is subject to approval by the TSXV.
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including in the United States. The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws, or an exemption from such registration requirements is available.
On behalf of U92 Energy Corp.
Adam Clode
Chief Executive Officer
For further information, visit www.u92corp.com or contact:
Adam Clode
Email: info@u92corp.com
Tel: +1 (800) 567-8181
About U92 Energy Corp.
U92 Energy Corp. is a Canadian exploration company listed on the TSX Venture Exchange. The Company is focused on the exploration, and advancement of its high-quality, advanced-staged uranium assets in South America.
The Company's flagship Kurupung project ("Kurupung"), is situated in the Republic of Guyana, boasting over 129,723 metres of drilling and a historical Indicated mineral resource of 10.6 million pounds (Mlbs), and an Inferred mineral resource of 10.0Mlbs, at a cut-off grade of 0.03% (300ppm) U₃O₈. The historic mineral resource occurs in four deposits where mineralization remains open along strike and down plunge. There are eight additional targets in which prior drilling intersected significant uranium grades that remain to be followed up with further drilling.
Through systematic exploration, and disciplined capital allocation, the Company aims to unlock the full value of Kurupung while positioning itself as a leading uranium-focused exploration and development company in South America.
To find out more about U92 Energy Corp. (TSXV: UTWO,OTC:UNTEF), visit the Company's website at www.u92corp.com
Cautionary Note Regarding Forward-Looking Statements
Information set forth in this news release contains "forward-looking information" within the meaning of applicable Canadian securities laws ("forward-looking statements"). Forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Such forward-looking statements include statements relating to the use of the net proceeds of the Public Offering, the size and timing of closing of the non-brokered private placement, and the Company's exploration and development plans. U92 cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by many material factors, many of which are beyond their respective control. Such factors include, among other things: risks and uncertainties relating to U92's limited operating history, its exploration and development activities on its mineral properties and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, U92 does not undertake to publicly update or revise forward-looking information.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/309312
