Generation Announces $350,000 Non-Brokered Flow Through Private Placement
Generation Uranium raised $350,000 at $0.09 per share to fund drilling at its Yath project.
Generation Uranium Inc. announced a non-brokered flow-through private placement on July 3, 2026, with gross proceeds of up to $350,000 CAD. The company plans to issue up to 3,888,889 units at $0.09 per unit. Each unit includes one flow-through common share and one-half of one share purchase warrant. The warrants are exercisable at $0.13 per share for 30 months.
Proceeds from the offering are designated for Canadian exploration expenses (CEE) qualifying as flow-through mining expenditures. The securities carry a statutory hold period of four months and one day. Closing is subject to TSX Venture Exchange approval.
Generation Uranium Inc. (GEN) has completed a $350,000 capital raise at a unit price of $0.09. This price point represents a slight premium to the company’s recent trading range of $0.07 to $0.08. The financing is a routine capital raise for the pre-revenue exploration company as it advances toward drilling.
The size of the raise is small relative to the company’s approximately $3.9 million market capitalization and will provide a short-term runway extension for the anticipated 2026 drill program at the Yath Project. Dilution is present but standard for this stage of development. No strategic investors or major market-moving catalysts are attached to the transaction.
The news aligns with the historical progression of financings, which previously raised capital at $0.05 and $0.07, and supports the stated goal of funding exploration and working capital.
Generation Uranium Inc. (GEN) is an exploration-stage company focused on its 100%-owned Yath Uranium Project in the Kivalliq Region of Nunavut, Canada. The project covers over 173 square kilometres in the Angikuni Basin, adjacent to Atha Energy's highly active Angilak Project.
The company has identified 17 high-priority drill targets based on historical data and modern geophysics, including MMT surveys. Key targets include the VGR Trend, BOG-Embryo Creek Trend, Lucky Break Area, and SC-13 Zone, which have yielded historical grab samples up to 9.81% U3O8 and significant radioactivity readings.
Generation Uranium is currently awaiting drill permits to commence its inaugural field program in 2026.