Canadian company U92 Energy Corp which is seeking to search for uranium in Guyana yesterday announced the closing of its previously announced upsized non-brokered private placement of 3,750,000 units of the Company at a price of CDN$0.40 per Unit for aggregate gross proceeds to the Company of CDN$1,500,000.
In a statement, the company said that the Completion of the Offering and the Company’s CDN$8 million brokered prospectus offering, which closed on August 12, 2026, will significantly help advance its exploration activities in Guyana by supporting local employment, contractors and service providers, “as we continue to unlock the potential of our prospecting licenses and drive shareholder value”. This is according to Adam Clode, CEO of U92.
The plan to search for uranium here has generated controversy as neither the government nor its environmental agency has provided information on the company’s plans. The community of Kurupung in Region Seven where the exploration is to occur has said it was not aware of it.
“Through systematic exploration, and disciplined capital allocation, the Company aims to unlock the full value of Kurupung while positioning itself as a leading uranium-focused exploration and development company in South America”, the company stated in the statement.
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