TSX-V-listed GoviEx Uranium has completed a nonbrokered private placement of 32-million shares at a price of C$0.25 apiece for gross proceeds of C$8-million.
Each share also comprises a transferable share purchase warrant, which entitles the holder to acquire an additional share at a price of C$0.38 apiece, up to January 21, 2023.
GoviEx will use the proceeds to fund continued exploration and development activities on the company’s assets, as well as for working capital and general corporate purposes.
The company owns its flagship mine-permitted Madaouela uranium project, in Niger; the mine-permitted Mutanga uranium project, in Zambia; and the multi-element Falea project, in Mali.