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Gamma Resources Announces Receipt of $604,500 from Warrant Exercises
Gamma Resources Announces Receipt of $604,500 from Warrant Exercises
VANCOUVER, BC / ACCESS Newswire / June 9, 2026 / Gamma Resources Ltd. (TSX-V:GAMA)(OTCQB:GAMXF)(FRA:MRD0) ("Gamma" or the "Company") is pleased to announce that it has received aggregate proceeds of $604,500 from the exercise of 4,030,000 common share purchase warrants at an exercise price of $0.15 per share, as previously disclosed in a news release dated April 16, 2026 announcing the warrant incentive program (the "Incentive Program"). The Incentive Program was completed on May 14, 2026. Upon exercise of the warrants in accordance with the Incentive Program, the Company issued a total of 4,030,000 common shares and 4,030,000 incentive warrants (the "Incentive Warrants"). Each Incentive Warrant entitles the holder thereof to purchase one common share of the Company for a period of 3 years from the date of issuance, June 3, 2026, at a price of $0.15 per share.
Gamma expects to use the proceeds received from the exercise of the warrants for advancing exploration activities and general working capital.
All warrants that were not exercised under the Incentive Program will remain outstanding and continue to be exercisable for common shares of the Company on their original terms and no further Incentive Warrants will be granted on any exercise of such warrants. Prior to the April 14, 2026 announcement of the Incentive Program, 2,500,000 warrants which were exercised for proceeds of $375,000 were not eligible for Incentive Warrants. The Incentive Warrants, and any shares issuable on the exercise thereof, will be subject to a statutory hold period of four months and one day from the date of issuance of the Incentive Warrants, expiring on October 4, 2026.
Related Party Disclosure
Participation in the Incentive Program by insiders of the Company (the "Related Parties") constituted a related party transaction within the meaning of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101"). Pursuant to the Incentive Program, the Related Parties exercised an aggregate of 1,890,000 warrants and were issued an aggregate of 1,890,000 common shares and 1,890,000 Incentive Warrants. Notwithstanding the foregoing, the directors of the Company have determined that the Related Parties' participation in the Incentive Program is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 in reliance on the exemptions contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101. The Company did not file a material change report in respect of the related party transaction at least 21 days before closing of the Incentive Program as the extent of participation by the Related Parties was not confirmed at that time.
About Gamma Resources Ltd.
Gamma Resources Ltd. is a U.S.-focused uranium exploration and development company advancing high-quality assets in the Mountain West region. The Company'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. Management believes the Company is uniquely positioned to benefit from the unprecedented policy and market tailwinds reshaping the U.S. nuclear landscape, and help meet this demand with responsibly sourced, U.S.-based uranium supply.
Gamma trades on the TSX Venture Exchange (TSX-V: GAMA), OTC (OTCQB: GAMXF) and Frankfurt (FRA: MRD0).
For Further Information
Mr. C. Connor Messler, President | |
Email: | |
Tel: | (833) 854-6826 |
Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking Statements
Certain of the statements made and information contained in this press release may constitute forward-looking information and forward-looking statements (collectively, "forward-looking statements") within the meaning of applicable securities laws. All statements, other than statements of historical fact, are forward-looking statements. The words "will", "expect", "plan," "intend" and similar expressions identify forward-looking statements. In particular, this press release contains forward-looking statements including, without limitation, with respect to the use of proceeds received from the exercise of warrants.
Forward-looking statements, while based on management's best estimates and assumptions, are subject to risks and uncertainties that may cause actual results to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: the risk that the Company will not be able to use proceeds from the exercise of warrants as currently anticipated; anticipated risks related to general economic and market conditions; accidents, title disputes, and other risks of the mining industry.
Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation or responsibility to update forward-looking statements, except as required by law.
SOURCE: Gamma Resources LTD
View the original press release on ACCESS Newswire
F.Leblanc--SMC
