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XORTX Completes USD $114,500 Private Placement

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICESOR FOR DISSEMINATION IN THE UNITED STATES

CALGARY, Alberta, Aug. 08, 2025 (GLOBE NEWSWIRE) -- XORTX Therapeutics Inc. ("XORTX" or the "Company") (NASDAQ:XRTX, TSXV:XRTX, Frankfurt: ANU)), a late-stage clinical pharmaceutical company focused on developing innovative therapies to treat gout and progressive kidney disease, announces the closing of its previously announced non-brokered private placement of units ("Units"), whereby it issued 156,849 Units at a price of US$0.73 per Unit for aggregate gross proceeds of US$114,500 (the "Offering").

Under the Offering, each Unit consisted of one common share in the capital of the Company ("Common Share") and one common share purchase warrant ("Warrant"). Each Warrant entitles the holder thereof to purchase one additional Common Share at a price of US$1.20 for a period of sixty (60) months following the date of issuance provided, however, that if the closing price of the Common Shares on the Nasdaq is greater than US$2.00 for ten (10) or more consecutive trading days, the Warrants will be accelerated and will expire on the 30th business day following the date of such notice.

Closing of the Offering was conditionally approved by the TSX Venture Exchange ("TSXV"), and the securities issued under the Offering are subject to a four-month and one-day statutory hold period. The Company intends to use the proceeds of the Offering for gout programs, general corporate and working capital purposes. No finder's fees were paid in connection with the Offering.

The securities have not and will not be registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), or any applicable state securities laws and may not be offered or sold to, or for the account or benefit of, persons in the United States or "U.S. persons," as such term is defined in Regulation S promulgated under the U.S. Securities Act, absent registration or an exemption from such registration requirements. This news release shall not constitute an offer to sell or the solicitation of an ...