Business
ExGen Resources Provides Corporate Update, and Announces Stock Option Grant and $200,000 Private Placement
Vancouver, British Columbia--(Newsfile Corp. - February 12, 2026) - ExGen Resources Inc. (TSXV: EXG) (OTC Pink: BXXRF) ("ExGen" or the "Company") provides an update regarding Phoenix Copper Limited ("Phoenix"), the operator of the Empire copper project in Idaho, in which ExGen holds a 20% carried interest. In addition, ExGen owns 1,330,000 common shares of Phoenix.Phoenix announced on February 9 the suspension of the Executive Chairman and the Chief Financial Officer. ...
About this update from Exgen Resources Inc.
[{"type":"text","content":"Vancouver, British Columbia--(Newsfile Corp. - February 12, 2026) - ExGen Resources Inc. (TSXV: EXG) (OTC Pink: BXXRF) ("ExGen" or the "Company") provides an update regarding Phoenix Copper Limited ("Phoenix"), the operator of the Empire copper project in Idaho, in which ExGen holds a 20% carried interest. In addition, ExGen owns 1,330,000 common shares of Phoenix.","length":397,"tagName":"p"},{"type":"text","content":"Phoenix announced on February 9 the suspension of the Executive Chairman and the Chief Financial Officer. (https://polaris.brighterir.com/public/phoenix_global_mining/news/rns/story/rgom5vx ).","length":193,"tagName":"p"},{"type":"text","content":"The Phoenix Chief Executive Officer, in a February 10 news release, stated "Work relating to the advancement of the Empire Project and broader strategic options continues." (https://polaris.brighterir.com/public/phoenix_global_mining/news/rns/story/rymqj3r )","length":269,"tagName":"p"},{"type":"text","content":"ExGen management understands that Phoenix is in discussions with a number of industry groups who have potential interest in advancing the Empire Project.","length":153,"tagName":"p"},{"type":"text","content":"GRANT OF STOCK OPTIONSExGen also announced that certain directors, officers, employees and consultants have been issued an aggregate of 4,000,000 options pursuant to ExGen's option plan, with each such option being exercisable into one common share at an exercise price of $0.14 at any time on or before the fifth anniversary of its issuance. Each of the options vested on grant, other than 250,000 options granted to an investor relations consultant of the Company, which will vest, as to 25% of the options granted, on each of the 3, 6, 9 and 12 month anniversaries of the date of grant of the options.","length":609,"tagName":"p"},{"type":"text","content":"Of the options granted above, 500,000 options were granted to directors and officers of ExGen. ExGen is relying on exemptions from the formal valuation and minority approval requirements of Multilateral Instrument 61-101 and TSX Venture Exchange Policy 5.9, for the issuance of these options, pursuant to Section 5.5(b) (Issuer Not Listed on Specified Markets) and Section 5.7(a) (Fair Market Value Not More Than 25% of Market Capitalization) of MI 61-101, respectively.",...