GoviEx Uranium Inc. announced a bought deal private placement of 68,572,000 units at the price of CAD 0.175 per unit for gross proceeds of up to CAD 12,000,100 on April 20, 2023. Each unit will be comprised of one common share and one common share purchase warrant, with each warrant entitling the holder thereof to purchase one additional common share at an exercise price equal to the United States dollar equivalent of CAD 0.25 for a period of 24 months following the closing date of the transaction. The company has granted the underwriters an option, exercisable in whole or in part up to 48 hours prior to the closing of the transaction, to purchase up to an additional 15% of the units at the issue price.

The closing of the transaction is expected to occur on or about May 11, 2023, and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the conditional approval from the TSX Venture Exchange. The hold units will be subject to the statutory hold period of four months and one day from the date of issuance in accordance with applicable Canadian securities laws.