ExGen Secures $805K in First Tranche of Private Placement, Amends Warrant Terms
BXXRF has more than doubled off its 52-week low of $0.008 on light trading volume (0.3× avg).
Summary
ExGen Resources has successfully closed the first tranche of its previously announced private placement, raising gross proceeds of $805,000 by issuing 8,050,000 units at $0.10 per unit. This follows the June 9th announcement of a $1 million private placement. The capital infusion is significant for the company, providing funds for potential exploration, future acquisitions, and general working capital. Additionally, the terms of the warrants have been amended to extend their term and remove the acceleration clause. A second tranche closing is anticipated around July 9, 2026.
At the time of this announcement, BXXRF was trading at $0.07 on OTC in the Energy & Transportation sector, with a market capitalization of approximately $7.4M. The 52-week trading range was $0.01 to $0.30. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.