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E-Tech Resources Inc ( (TSE:REE) ) has provided an update.
ReeXploration Inc. has closed a $1,000,000 private placement, issuing 9,090,910 shares at $0.11 each to fund the next phase of exploration at its Eureka Project in Namibia’s Erongo Mining District, with a focus on drilling a newly identified, highly prospective uranium target in early 2026. The financing involved Numus Capital Corp. as agent, which received a cash fee and compensation warrants, and, while considered a related-party transaction under applicable securities rules, falls within exemptions that avoid the need for shareholder approval; all securities issued are subject to a four-month-plus-one-day hold period, reinforcing the company’s capital position as it advances its dual rare earths and uranium strategy in a key global uranium corridor.
More about E-Tech Resources Inc
ReeXploration Inc. is a Canadian mineral exploration company focused on critical minerals that support the clean energy transition, advanced technologies, and national defense. Its flagship Eureka Project in central Namibia combines a technically proven rare earths resource capable of producing a clean, Western-standard monazite concentrate with a newly defined, high-priority uranium target in the established Erongo uranium corridor, giving the company multi-commodity discovery potential aligned with efforts to diversify global critical mineral and nuclear fuel supply chains.
Average Trading Volume: 121,495
Technical Sentiment Signal: Buy
Current Market Cap: C$18.92M
For an in-depth examination of REE stock, go to TipRanks’ Overview page.