09:17 AM EDT, 08/12/2026 (MT Newswires) -- U92 Energy ( UNTEF ) closed its brokered public offering of share units, raising C$8.1 million, it said in a statement on Wednesday.

The company placed 20.13-million of units at C$0.40 apiece in the offer, including the full exercise of the agents' over-allotment option. Each unit is made up of a share and one-half of a four-year warrant to buy a share for C$0.65.

Proceeds are expected to be used to advance its Kurupung uranium project in Guyana, for payment of deferred cash consideration for the Guyana projects and for general working capital and corporate needs.

The mineral exploration company also said it expects to close its non-brokered private placement of up to 3.8-million units at C$0.40 apiece for up to C$1.5 million.

Shares of the company closed down C$0.04, or 10%, to C$0.35 on Tuesday on the TSX Venture Exchange.