U92 Energy launches $6 million public offering

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TORONTO, July 22, 2026 (GLOBE NEWSWIRE) -- U92 Energy Corp. (“ U92 ” or the “ Company ”) (TSXV: UTWO) is pleased to announce that it has filed a preliminary short form prospectus (the “ Preliminary Prospectus ”) with the securities regulatory authorities in each of the provinces of Canada, except Québec, in connection with an offering (the “ Offering ”) of units of the Company (the “ Units ”). The Offering is being conducted on a commercially reasonable efforts agency basis for the issuance of a minimum of 9,000,000 Units and a maximum of 15,000,000 Units at a price of $0.40 per Unit (the “ Offering Price ”) for gross proceeds between $3,600,000 and $6,000,000, subject to the over-allotment option described below.

Each Unit will consist of one common share of the Company (each, a “ Share ”) and one-half of one common share purchase warrant (each whole common share purchase warrant, a “ Warrant ”). Each Warrant will entitle the holder to acquire one Share at a price of $0.65 per Share for a period of 48 months following the date of issuance.

The Offering is expected to be completed pursuant to the terms of an agency agreement to be entered into between the Company and Haywood Securities Inc., together with a syndicate of agents (collectively, the “ Agents ”).

The Units will be offered by way of a short-form prospectus to be filed with the securities regulatory authorities in each of the provinces of Canada, except Québec, pursuant to National Instrument 44-101 – Short Form Prospectus Distributions . The Units will also be sold (i) in the United States or to, or for the account or benefit of, U.S. persons, by way of private placement pursuant to the exemptions from the registration requirements provided for under the United States Securities Act of 1933, as amended (the “ U.S. Securities Act ”); and (ii) in jurisdictions outside of Canada and the United States on a private placement or equivalent basis, in each case in accordance with all applicable laws, provided that no prospectus, registration statement or other similar document is required to be filed in such jurisdiction.

The Agents have been granted an option (the “ Over-Allotment Option ”) to purchase up to an additional 15% of the maximum number of Units issuable under the Offering at the Offering Price, exercisable in whole or in part, up to 48 hours prior to closing of the Offering.

The net proceeds from the Offering will be used to advance U92’s Kurupung uranium project in Guyana, for payment of deferred cash consideration for the Guyana projects and for general working capital and corporate purposes, as disclosed in the Preliminary Prospectus.

The Offering is expected to close on or about August 11, 2026, or such other date as the Company and Agents may agree. Closing of the Offering is subject to certain conditions, including but not limited to the receipt of all regulatory approvals, including the approval of the TSX Venture Exchange (“ TSXV ”).