GoviEx Uranium Inc (TSX-V:GXU, OTCQX:GVXXF) has announced a private placement financing aiming to raise up to $7.5 million through the sale of 150 million units at $0.05 per unit.
Each unit will include one common share and one warrant, with warrants exercisable at $0.07 for 24 months.
The financing will involve 50 million units offered under an accredited investor exemption, subject to a statutory hold period, and 100 million units offered under a listed issuer financing exemption, which will be exempt from resale restrictions.
GoviEx, which is focused on advancing uranium projects in Africa, plans to use the proceeds for exploration, development, and general corporate purposes.
The financing is expected to close by April 2.