Canadian Uranium Corp. Upsizes Private Placement to $3 Million for Project Exploration
Vancouver, British Columbia — August 5, 2026 — Leads & Copy — Canadian Uranium Corp. (CSE: CANU) has increased its non-brokered private placement to raise up to $3,000,000 in gross proceeds. The offering will be comprised of two portions: up to 2,000,000 units at $1.00 per unit for gross proceeds of $2,000,000, and up to 833,334 units at $1.20 per unit for gross proceeds of $1,000,000. Each unit will include one common share and one-half of a common share purchase warrant. Warrants will entitle holders to purchase an additional common share at $1.50 each until 24 months after the closing date.
The company plans to utilize the net proceeds for the exploration of its Rook 2 and King South Projects and for general working capital. Proceeds from the flow-through units will be used to incur eligible Canadian exploration expenses that qualify as flow-through critical mineral mining expenditures, as defined by the Tax Act. These expenditures will be renounced with an effective date no later than December 31, 2026, and incurred by December 31, 2027.
Canadian Uranium Corp. retains the option to increase the offering size by up to 15% to accommodate over-allotments. The closing of the offering is contingent upon various conditions, including the receipt of necessary approvals such as conditional listing approval from the CSE and applicable securities regulatory authorities. The placement will be conducted privately in Canada and pursuant to an exemption from registration requirements in the United States under the Securities Act of 1933, as amended, and potentially in other determined jurisdictions.
Securities issued under the offering will be subject to a statutory hold period of four months and one day from the closing date. Eligible parties who assist in introducing subscribers to the offering may receive finder’s fees, not exceeding 8% of the gross proceeds, in accordance with Canadian Securities Exchange policies.
With the recent acquisitions of King South and Rook 2, and the option agreement on Castle South, Canadian Uranium’s Athabasca project holdings now span over 40,000 hectares of prospective land.
The Rook 2 Project targets historic uranium deposits located outside the Athabasca Basin where radioactive materials are exposed at surface. The Company is planning a two-phase exploration program to confirm and expand upon previous work. Phase 1 will involve prospecting and ground geophysics to identify drill targets, followed by a Phase 2 diamond drilling program of at least 3,000 meters.
The King South Project is situated within the Wollaston-Mudjatik Transition Zone (WMTZ), a highly productive uranium region that hosts significant mines like Key Lake, Cigar Lake, and McArthur River. The project is accessible via the Key Lake Mine Road. Exploration at King South will focus on multi-kilometer subsurface conductive anomalies and will include a heliborne Mobile MT survey, followed by prospecting, ground geophysics, and induced polarization for drill targeting.
Brian Newton, PGeo, president and vice-president of exploration for Canadian Uranium Corp., has reviewed and approved the scientific and technical information in this news release as a qualified person under National Instrument 43-101.
Canadian Uranium Corp. is focused on uranium exploration and development within the Athabasca Basin. The company’s strategy involves assembling skilled technical teams and utilizing disciplined acquisitions and innovative exploration methods to advance its projects.
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