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ExGen Increases Common Share Private Placement to $2,675,000; Board Approves Compensation to Management, Directors and Consultants

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

VANCOUVER, British Columbia, Jan. 14, 2022 (GLOBE NEWSWIRE) -- ExGen Resources Inc. (TSX.V: EXG; OTC: BXXRF) (“ExGen”) is pleased to announce that, further to its news release dated November 23, 2021, the maximum gross proceeds of its non-brokered private placement offering of common shares in the capital of ExGen (“Offered Shares”) at a price of $0.10 per Offering Share has been increased to up to a $2,675,000 (a maximum of 26,750,000 Offered Shares) (the “Private Placement”). The Private Placement is now anticipated to close on or about January 28, 2022. The remainder of the terms of the previously announced Private Placement remain the same.

ExGen intends to complete the Private Placement using available ‎prospectus exemptions under securities laws including the accredited investor exemption and the ‎close friends, family and business associates exemption. Any investors interested in participating in ‎the Private Placement should contact ExGen pursuant to the contact information set forth below. A finder’s fee ‎of up to 7% of the gross proceeds of the Private Placement may be paid in cash or ExGen common shares ‎on all or any portion of the Private Placement.‎ The net proceeds from the Private Placement will be used for potential exploration and development on ExGen’s properties including the Empire Mine Project, potential future acquisitions and general working capital.

‎It is not anticipated that any new insiders will be created, nor that any change of control will occur, ‎as a result of the Private Placement. Any participation by insiders of ExGen in the Private ‎Placement will be on the same terms as arm’s length investors. There is no minimum aggregate ‎subscription amount for the Private Placement, but completion of the Private Placement is subject to ‎all regulatory approvals, including the TSXV acceptance. Depending on market conditions, ‎the gross proceeds of the Private Placement could be increased or decreased. All securities issued in connection with the Private Placement will be subject to a hold period of four months and one day from the date of closing. ‎‎For further ‎details on the Private Placement, please contact ExGen at the contact information set forth below.

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14.01.2022, 15:03  |  91   |   |   

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ExGen Increases Common Share Private Placement to $2,675,000; Board Approves Compensation to Management, Directors and Consultants NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES VANCOUVER, British Columbia, Jan. 14, 2022 (GLOBE NEWSWIRE) - ExGen Resources Inc. (TSX.V: EXG; OTC: BXXRF) (“ExGen”) is pleased to announce that, …

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