Halifax, Nova Scotia — December 23, 2025 — Leads & Copy — ReeXploration Inc. has successfully closed its previously announced private placement, raising gross proceeds of $1,000,000. The financing will fund the next phase of exploration at the Company’s Eureka Project in Namibia’s Erongo Mining District. ReeXploration will now focus on a drill program designed to test a newly identified and highly-prospective uranium target in early 2026.
The financing comprised 9,090,910 shares of the Company at $0.11 per share. ReeXploration paid Numus Capital Corp., a registered Exempt Market Dealer, a cash fee of $70,000, representing 7% of the proceeds raised. The Company also issued 636,363 compensation warrants, entitling the agent to purchase that number of shares at $0.11 per share for 24 months from closing.
The engagement of Numus Capital Corp. and the financing may be considered Related Party Transactions under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI-61-101”). ReeXploration is relying upon an exemption for shareholder approval required under section 5.7(1)(a) of MI 61-101, based on the related party elements of such transactions not exceeding 25% of the Company’s market capitalization.
All securities issued are subject to a hold period lasting four months and one day from the closing.
ReeXploration is a Canadian exploration company focused on meeting surging global demand for secure, responsible supplies of critical minerals. The Company’s Eureka Project in central Namibia combines a technically proven rare earth foundation with a newly defined, high-priority uranium target. The project offers multi-path discovery potential in line with efforts to diversify critical mineral and nuclear fuel supply.
The Company is advancing a disciplined, discovery-led strategy with a Namibia-based technical team and global critical minerals experts.
Christopher Drysdale, Interim CEO of ReeXploration Inc., can be reached at +1 902-334-1949 or contact@rareearthexploration.com.
Source: ReeXploration Inc.
