Gamma Resources closes US$1.28M placement to fund uranium exploration
What's the deal? Gamma ResourcesDealroom has a profile for this one. Try Dealroom → (CVE:GAMA) has closed a non-brokered private placement raising US$1.28M. The final tranche brought in US$643.5K through the issuance of 10,968,750 units.
The terms: The full offering totalled 21,875,000 units priced at US$0.06 each. Each unit pairs one common share with a warrant to buy another share at US$0.09, exercisable for 36 months.
What's the money for? Pending TSX Venture Exchange acceptance, proceeds will fund exploration at Gamma's Mesa Arc and Green River projects, along with general corporate costs.
The fine print: Insiders bought 1,562,500 shares, making the deal a related-party transaction. It was exempt from certain regulatory requirements given its size relative to the company's market capitalisation. Finder's fees came to US$5.7K in cash and 97,125 warrants.
The signal: At roughly $1.23 million, the raise sits near the bottom of comparable rounds — modest capital for a junior explorer advancing uranium projects on the back of insider and investor support.
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Image credit: IAEA Imagebank
