Subject to regulatory approval, the fund raising includes up to 15,000,000 flow through shares at a price of $0.06 per share.
Uracan Resources said: "A minimum of $200,000 of shares will be purchased by insiders.
"Finder’s fees on the gross proceeds of the offering may be paid."
The company will also use the proceeds for development of the Clearwater and Black Lake projects.
The projects house drilling equipment, and are fully permitted for diamond drilling.
In 2013, Uracan signed a deal with UEX to acquire a 60% participating interest in the Black Lake property.
UEX holds an 89.9% interest in the Black Lake project, while AREVA Resources Canada owns the remaining 10.01% stake.
Earlier this year, Uracan agreed to up to 70% interest in the Clearwater property from Forum Uranium.
