08:32 AM EDT, 05/26/2025 (MT Newswires) -- Urano Energy ( UECXF ) said Monday it is raising up to $700,000 in a private placement of 10 million units priced at $0.07 apiece.

The company plans to use the proceeds to advance permitting of its key uranium projects in the US, as well as for working capital and general corporate purposes.

Each unit consists of one share and one-half of one warrant. Each whole warrant is exercisable into one share at $0.10 per share for two years. Closing is expected on or about June 6.

Urano's share price surged 29% on Friday to $0.09 on the Canadian Securities Exchange.