Gamma Resources plans $2.85M private placement for uranium exploration

Gamma Resources Ltd. (TSXV: GAMA)(OTCQB: GAMXF)(FRA: MRDN) announced a non-brokered private placement consisting of two concurrent offerings targeting combined gross proceeds of up to approximately $2.85 million.

The primary component, a Listed Issuer Financing Exemption offering, seeks to raise up to $2.1 million through the issuance of up to 21,000,000 units priced at $0.10 each. Each unit includes one common share and one-half of a warrant, with each whole warrant exercisable at $0.15 per share for 36 months from issuance. The warrants will not be exercisable until 60 days after closing.

A concurrent non-brokered private placement of up to 7,500,000 units at $0.10 per unit would raise an additional $750,000. Each unit in this tranche includes one common share and one full warrant, also exercisable at $0.15 for 36 months. Securities from this portion are subject to a four-month-and-one-day hold period.

The company stated it intends to use net proceeds for continued exploration at its Mesa Arc property in New Mexico and its Green River property in Utah, as well as for general working capital. The offering is expected to close on or about August 29, 2026, in one or more tranches, subject to regulatory approval including from the TSX Venture Exchange. The company will not close a tranche of the LIFE financing unless combined gross proceeds from both components total at least $1.5 million.

Company insiders are anticipated to participate in the concurrent financing. Finder's fees of up to 7% in cash and warrants may be paid to eligible finders. The securities have not been registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States absent an applicable exemption.

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