Gamma Announces $2.1 Million LIFE Private Placement Offering

Gamma Resources Ltd. announced a non-brokered private placement under the Listed Issuer Financing Exemption (LIFE) to raise up to $2,850,000 in gross proceeds. The offering is split into two tranches: a LIFE tranche of up to 21,000,000 units at $0.10 per unit ($2,100,000) and a Concurrent Financing of up to 7,500,000 units at $0.10 per unit ($750,000).

Each unit consists of one common share and warrants (0.5 warrant per LIFE unit, 1 warrant per Concurrent unit), all exercisable at $0.15 per share for 36 months. Proceeds are designated for exploration of the Mesa Arc (New Mexico) and Green River (Utah) properties, general working capital, and corporate purposes. The offering requires a minimum closing threshold of $1,500,000 and is expected to close on or about August 29, 2026.

The company has steadily advanced its U.S. uranium portfolio since mid-2025, staking additional claims at Mesa Arc, filing an NI 43-101 technical report in January 2026, submitting a Notice of Intent for drilling, and completing archaeological surveys. Previous financings in 2025 raised $1.32M, and legacy debt was settled in Q1/Q2 2026 via cash and equity. This latest offering continues the capital-raising trajectory to fund the announced $1.5M phased exploration program and cover operating burn.

Gamma Resources Ltd. (GAMA) secured $2.85 million in LIFE financing, an expected incremental step to fund exploration programs and working capital needs outlined in the January 2026 technical report and subsequent operational updates. The company’s cash position stood at $88,496 CAD as of Q3-2026, with negative operating cash flow of -$700,156 CAD over the trailing nine months. The financing provides necessary runway to execute the Mesa Arc drilling plan and Green River surveys without immediate liquidity pressure.

The offering price of $0.10 is slightly above the current market price of $0.08, which is standard for private placements. The issuance of up to 28.5 million new shares and ~18 million warrants introduces significant dilution.

Gamma Resources Ltd. (GAMA) is an emerging uranium explorer focused on two historic U.S. mining districts: the Mesa Arc Project in New Mexico and the Green River Project in Utah. The Mesa Arc Project spans approximately 4,520 acres in the Chama Basin, where historic data indicates greater than 2.9 million lbs U3O8 at a 0.11% cutoff. An NI 43-101 technical report filed in January 2026 outlines a two-phase exploration program with a budget of approximately $1.5 million, targeting shallow reverse circulation drilling to validate historical intercepts.

The Green River Project covers approximately 1,100 acres in Emery County, Utah, located in the San Rafael Mining District adjacent to Western Uranium & Vanadium. The district has historically identified greater than 9 million lbs U3O8. The company is currently conducting aerial photogrammetry to locate historic boreholes for gamma logging. Gamma Resources Ltd. currently holds no NI 43-101 compliant mineral resources or reserves, with exploration in the early validation and target-generation phase.