Generation Uranium Announces Closing of First Tranche of Oversubscribed Private Placement

Executive Summary

• Generation Uranium Inc. closed the first tranche of its non‑brokered private placement, raising $167,500 in gross proceeds.
• The offering consisted of 3,350,000 units at $0.05 per unit, each unit containing one common share and one warrant to purchase an additional share at $0.10 for two years.
• Net proceeds are earmarked for general working capital, corporate purposes, and ongoing exploration activities on the Company’s projects.

Key Details

• Gross Proceeds: $167,500 (aggregate).
• Units Issued: 3,350,000 units at $0.05 per unit.
• Unit Composition: 1 common share + 1 common share purchase warrant (exercise price $0.10, two‑year term).
• Broker Warrants: 24,000 non‑transferable warrants issued to Haywood Securities Inc. as finder’s fees; each warrant allows purchase of one share at $0.10 for two years.
• Statutory Hold Period: Four months and one day, expiring February 3, 2026.
• Use of Proceeds: General working capital, corporate purposes, and funding of ongoing exploration on the Yath Uranium Project (Nunavut).
• Regulatory Condition: Offering remains subject to final approval by the TSX Venture Exchange.

Notable Quotes

(No CEO quotes were included in the release.)