(Kaieteur News) – Canada-based U92 Energy Corp. is set to raise up to C$7 million in public offerings and C$1.5 million in non-brokered private placement, to advance its Kurupung Uranium Project located in Region Seven (Cuyuni-Mazaruni), as the company anticipates the Environmental Protection Agency (EPA) will approve its drill programme this month.

For those unfamiliar, a public offering is when a company sells stocks or bonds to the general public to raise money and a non-brokered private placement is a method where a company sells stocks, bonds, or units directly to selected private or institutional investors without hiring an investment bank or broker to manage the offering.

The Toronto-based uranium explorer listed on the TSX Venture Exchange announced on 7th August that it had filed its final short form prospectus in connection with the public offering announced last month.