Canadian Uranium Corp. Closes Over $3 Million Private Placement and Updates Castle South Project
Vancouver, British Columbia — August 14, 2026 — Leads & Copy — Canadian Uranium Corp. (CSE: CANU) has successfully closed its non-brokered private placement, securing over $3 million to advance its exploration projects and strengthen its position in the uranium sector.
The financing comprised two portions: a non-flow-through component raising $2,000,150 through the sale of 2,000,150 NFT Units at $1.00 each, and a flow-through component generating $999,600 by issuing 833,000 FT Units at $1.20 each. Each NFT Unit includes one common share and a half warrant, while each FT Unit consists of one common share issued as a flow-through share and a half warrant. These warrants entitle holders to purchase an additional common share at $1.50 within 24 months of the closing date.
Proceeds from the offering are earmarked for the exploration of the Company’s flagship Rook 2 and King South projects, as well as for general working capital. The funds raised from the FT Portion will be used to incur eligible Canadian exploration expenses that qualify as flow-through critical mineral mining expenditures, as defined by the Income Tax Act (Canada). The Company intends to renounce these expenditures by December 31, 2026, with the expenses to be incurred by December 31, 2027.
In connection with the private placement, Canadian Uranium Corp. paid aggregate cash finder’s fees totaling $174,400 to arm’s length finders.
All securities issued under the private placement are subject to a statutory hold period of four months plus one day, as per Canadian securities legislation. The securities have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold within the United States or to U.S. persons without registration or an applicable exemption.
In a separate development, the Company announced an option assignment agreement to acquire the remaining 20% interest in the Castle South uranium project, formerly known as Cable Lake. This transaction will consolidate Canadian Uranium Corp.’s option to acquire a 100% interest in the project, located in the Athabasca Basin of Saskatchewan. The acquisition involves the issuance of 300,000 common shares to Citizen Uranium Corp. at a deemed price of $1.19 per share. The Castle South Transaction is pending regulatory approvals, and the issued shares will be subject to resale restrictions.
Additionally, Canadian Uranium Corp. has engaged Equitrend Data Inc. for marketing services. The agreement, valued at US$350,000 for an initial three-month period, may be extended for another three months with an additional budget of US$350,000. Equitrend’s services will encompass pay-per-click campaign development, social media and email marketing, and online advertising across various digital platforms.
The Company also announced the resignation of Binyomin Posen from its Board of Directors and is currently seeking a replacement.
Canadian Uranium Corp. is focused on uranium exploration and development within the Athabasca Basin. The company aims to assemble skilled technical teams and employ innovative exploration methodologies to advance its project portfolio.
Source: Canadian Uranium Corp.
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