Gamma closes $651,060 first tranche of placement

Executive Summary

• Gamma Resources closed the first tranche of its private placement, raising $651,060 in gross proceeds.
• The tranche consisted of 5,425,500 units at C$0.12 per unit, each unit containing one common share and one non‑transferable warrant.
• Finders’ fees of $13,650 cash plus 113,750 finders’ warrants were paid; directors participated with 417,000 shares in a related‑party transaction exempt from minority approval requirements.

Key Details

• Gross proceeds: $651,060 received on closing of first tranche.
• Units issued: 5,425,500 units at C$0.12 per unit (total up to $1 million for the full placement).
• Unit composition: Each unit = 1 common share + 1 non‑transferable common share purchase warrant.
• Warrant terms: Exercise price C$0.18 per share; exercisable for 36 months after closing (until Sept. 5, 2028).
• Finders’ compensation: $13,650 cash plus 113,750 finders’ warrants (exercise price C$0.12, non‑transferable, exercisable for 24 months from close).
• Director participation: Directors purchased an aggregate of 417,000 shares in the first tranche; treated as a related‑party transaction under MI 61‑101 but exempt because fair market value and consideration each remain below 25 % of market cap.
• Future plans: Company anticipates closing a second tranche shortly, subject to TSX Venture Exchange acceptance.

Notable Quotes

(No CEO/President quotes were included in the release.)