Xcite Resources closes its brokered LIFE offering ($1,100,000) and flow-through offering ($496,800) with Canaccord Genuity as agent, and provides an update on concurrent non-brokered private placements.
Vancouver, British Columbia, October 8, 2025 – Xcite Resources Inc. (CSE: XRI) announced the closing of brokered components of its private placement offerings conducted under the listed issuer financing exemption and a concurrent flow-through offering.
Brokered Offerings
LIFE Offering: 9,166,667 units at $0.12 per unit, generating $1,100,000 in gross proceeds. Each unit contained one common share and half a warrant exercisable at $0.20 until October 8, 2029.
Flow-Through Offering: 3,105,000 flow-through shares at $0.16 each, raising $496,800.
Canaccord Genuity Corp. acted as agent and sole bookrunner. The Company paid an 8% cash commission on gross proceeds and issued broker warrants equal to 8% of units sold. Under the LIFE Offering, 733,733 broker warrants were issued exercisable at $0.12 until October 8, 2027. For the Flow-Through Offering, 248,400 broker warrants were issued at $0.16 per share. Additionally, 1,000,000 common shares were issued as a $120,000 corporate finance fee.
Non-Brokered Update
The concurrent non-brokered offerings included up to 22,500,000 hard-dollar units at $0.12 and 4,375,000 flow-through shares at $0.16. An initial tranche closed simultaneously with the brokered offerings, generating $757,999.92 through 6,049,999 units and 200,000 flow-through shares. A second tranche was expected to close October 8, 2025.
Finder’s fees of up to 8% of gross proceeds were permitted for non-brokered offerings, with corresponding finder’s warrants exercisable for 24 months. No finder’s fees were paid for the initial tranche.
Use of Proceeds
Net proceeds will fund exploration and development activities on uranium projects in the Athabasca Basin and general corporate purposes. Flow-through proceeds will support eligible Canadian exploration expenses qualifying as flow-through critical mineral mining expenditures.
All securities from the LIFE Offering trade freely. Flow-through shares, non-brokered offerings, broker warrants, and corporate finance fee shares are subject to a four-month statutory hold period expiring February 9, 2026.