Gamma Resources Extends Private Placement Closing Date

Gamma Resources Ltd, a U.S.-focused uranium exploration and development company, has announced an extension of the closing date for its non-brokered private placement. The company originally targeted a final closing date of September 11, 2026, but now anticipates closing the final tranche by September 30, 2026. This extension has been approved by the TSX Venture Exchange.

The private placement will issue up to 21,875,000 units, each priced at $0.08, raising a maximum of $1,750,000. Each unit consists of one common share and one non-transferable warrant, with each warrant entitling the holder to purchase one additional common share at an exercise price of $0.12 for a period of 36 months following the closing date. The first tranche of the private placement has already been completed, and the company expects to close the final tranche by the end of the month.

Directors of Gamma Resources Ltd are expected to participate in the second tranche, which is considered a related party transaction under Multilateral Instrument 61-101. The offering is exempt from the formal valuation and minority shareholder approval requirements of 61-101, as neither the fair market value of the securities issued to related parties nor the consideration for such securities will exceed 25% of the company's market capitalization.

All securities issued in connection with the private placement will be subject to a four-month plus one-day hold period from the closing date, as required by applicable securities laws and the policies of the TSX Venture Exchange. The securities issued in connection with the private placement have not been registered under the United States Securities Act of 1933, as amended, or state securities laws, and may not be offered or sold in the United States or to an account for the benefit of US persons, absent such registration or an exemption from registration.

The net proceeds of the private placement will be used to continue exploration at the company's Mesa Arc project in New Mexico and its Green River project in Utah, as well as for general working capital and corporate purposes. Gamma Resources Ltd's portfolio includes the Green River Project in Utah, comprising 1,100 acres near prominent regional producers, and the Mesa Arc Project in New Mexico, a strategic land position now totaling 4,520 acres that includes historic uranium resources in the Chama Basin.

The company believes it is well-positioned to benefit from the policy and market tailwinds reshaping the U.S. nuclear landscape and to help meet growing demand with responsibly sourced, U.S.-based uranium supply. Gamma Resources Ltd trades on the TSX Venture Exchange (TSX-V:GAMA), in the United States on the OTCQB (OTCQB:GAMXF), and in Germany on the Frankfurt Stock Exchange (FRA:MRD0).

The company's management expects the private placement to provide the necessary funding for its planned activities, with the proceeds expected to support ongoing exploration efforts and general corporate needs. The completion of the private placement is subject to the acceptance of the TSX Venture Exchange, and the company remains committed to transparent and diligent financial management.