Xcite Resources Announces Concurrent Brokered Life Offering & Flow-Through Shares Private Placement Alongside Amending Agreements Respecting Athabasca Uranium Portfolio

Core Viewpoint - Xcite Resources Inc. is initiating a Private Placement to raise up to $4,000,000 through two offerings: a LIFE Offering and a FT Offering, aimed at funding general corporate purposes and exploration expenses related to its Uranium City project portfolio in Saskatchewan, Canada [1][3]. Financing Details - The LIFE Offering will consist of up to 9,166,667 units priced at $0.12 per unit, aiming to raise up to $1,100,000 [1]. - The FT Offering will consist of up to 18,125,000 flow-through common shares priced at $0.16 per share, aiming to raise up to $2,900,000 [1]. - Each unit in the LIFE Offering includes one common share and one-half of a common share purchase warrant, with each whole warrant allowing the purchase of one common share at $0.20 for 48 months [2]. Use of Proceeds - Net proceeds from the LIFE Offering will be used for general corporate purposes [3]. - Gross proceeds from the FT Offering will be allocated to eligible Canadian exploration expenses related to the Uranium City project portfolio [3]. Agent and Compensation - Canaccord Genuity Corp. has been appointed as the lead agent for both offerings [4]. - The company will pay a commission of 8% on the gross proceeds raised and issue broker warrants equal to 8% of the offered securities sold [5]. Insider Participation and Shareholder Approval - Insiders of the company may participate in the financing, which requires approval from shareholders holding more than 50% of the common shares [7]. Agreements and Financial Notes - The company has amended agreements with Eagle Plains Resources to postpone work commitments totaling $1,200,000 to December 31, 2025 [8]. - The company has entered into promissory notes worth $245,520 with two insiders, due by November 30, 2026, representing accrued management fees [9]. Company Overview - Xcite Resources is focused on the discovery and development of energy transition metals, with a uranium project portfolio in the Athabasca basin [11].