Xcite Resources closes the second tranche of its non-brokered private placements, raising gross proceeds of $1,030,200 through unit and flow-through share issuances.
Vancouver, British Columbia, October 10, 2025 – Xcite Resources Inc. (CSE: XRI), a Canadian uranium exploration company focused on advancing its portfolio of assets in the Athabasca Basin, announced the closing of a second tranche of its previously announced non-brokered private placements.
The Company raised gross proceeds of $1,030,200 through two components:
- $899,200 from issuing 7,493,334 units at $0.12 per unit
- $131,000 from issuing 818,750 flow-through common shares at $0.16 per share
Each unit consists of one common share and one-half warrant exercisable at $0.20 per share, valid until October 8, 2029.
Use of Proceeds
Net proceeds will support exploration and development activities on uranium projects in the Athabasca Basin and general corporate purposes. Flow-through share proceeds will fund eligible Canadian exploration expenses qualifying as flow-through critical mineral mining expenditures.
The Company paid finder’s fees of $73,136 and issued 532,800 finder’s warrants exercisable for units at $0.12 until October 8, 2027, plus 57,500 finder’s warrants exercisable for common shares at $0.16 until the same date.
All securities carry a statutory four-month hold period expiring February 9, 2026, per National Instrument 45-102. A third tranche closing was expected around October 20, 2025.