Gamma Resources Announces Closing of Amended Payment Terms Negotiation for U.S. Uranium Portfolio Lease Agreement
Rhea-AI Summary
Gamma Resources (OTCQB:GAMXF) obtained TSX Venture Exchange approval for an April 14, 2026 amending agreement that revises payment terms for its U.S. uranium portfolio lease. Several scheduled cash payments are now complete, with US$680,000 remaining outstanding plus 1,000,000 common shares to be issued.
The amended schedule is intended to better align cash commitments with Gamma's capital allocation while it advances exploration at the Mesa Arc (New Mexico) and Green River (Utah) uranium projects.
Positive
- Five scheduled lease payments totaling US$370,000 have been completed
- Remaining lease payments limited to US$680,000 over multiple future dates
- TSXV approval received for amended lease terms and 1,000,000-share issuance
- Amended schedule intended to support financial flexibility during U.S. uranium exploration
Negative
- Issuance of 1,000,000 common shares creates equity dilution for existing holders
- US$180,000, US$250,000, and US$250,000 lease payments remain outstanding
News Market Reaction – GAMXF
In the Jun 8 session, GAMXF declined 4.76%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
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VANCOUVER, BC / ACCESS Newswire / June 3, 2026 / Gamma Resources Ltd. (TSX-V:GAMA)(OTCQB:GAMXF)(FRA:MRD0) ("Gamma" or the "Company") is pleased to announce that the TSX Venture Exchange (the "TSXV") has accepted an amending agreement dated April 14, 2026 (the "Amending Agreement"), which amends the payment terms under the Company's previously announced lease agreement for its U.S. uranium projects as originally disclosed in press releases dated April 14, 2025 and April 14, 2026. The amended terms provide the Company with enhanced financial flexibility while maintaining its rights and interests in the underlying assets.
Amended Payment Terms
The amended payment terms and their current status are as follows:
US
$50,000 on the Effective Date (payment complete);US
$200,000 not later than 120 days after the Effective Date (payment complete);US
$20,000 on or before April 14, 2026 (payment complete);US
$50,000 on or before May 14, 2026 (payment complete);US
$50,000 on or before June 14, 2026 (payment complete);US
$180,000 on or before July 14, 2026 (payment outstanding);1,000,000 common shares of Gamma to be issued as soon as practicable;
US
$250,000 on the second anniversary of the Effective Date (payment outstanding); andUS
$250,000 on the third anniversary of the Effective Date (payment outstanding).
The TSXV has approved the issuance of 1,000,000 common shares of Gamma, and such shares will be issued as soon as practicable. The shares will be subject to a statutory hold period of four months and one day in accordance with applicable securities laws.
The amended payment terms align Gamma's near-term cash commitments with its broader capital allocation strategy, allowing the Company to continue advancing its U.S. uranium portfolio while preserving financial flexibility.
Except as amended by the Amending Agreement, all other terms, conditions and provisions of the original lease agreement remain in full force and effect as unamended.
Gamma is currently advancing exploration activities across its U.S. uranium portfolio, including its Mesa Arc Project in New Mexico and Green River Project in Utah. Ongoing work is focused on refining target areas through data compilation and interpretation, permitting, and field-based programs designed to support drill targeting.
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.
For Further Information
Mr. C. Connor Messler, President
Email: connor@gammaresourcesltd.com
Tel: (833) 854-6826
www.gammaresourcesltd.com
Forward-Looking Statements
Neither the TSXV 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. Statements made in this news release, other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, may include forward-looking statements. forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.
SOURCE: Gamma Resources LTD
View the original press release on ACCESS Newswire