Project generator Canalaska Uranium Ltd (CVE:CVV) wants to raise up to C$510,000 via a private placing to be used for acquisitions.
The funds will also be used for uranium and other mineral exploration in Saskatchewan, Manitoba and Alberta, as well as for general corporate purposes, it said in a brief statement.
The firm will issue up to 1.5mln units at 34 cents each.
Each unit will consist of one share and one-half share purchase warrant.
Each warrant will entitle the holder to acquire an additional share for 51 cents for two years under various conditions.
Canalaska Uranium shares eased 4.65% to C$0.41.