Gamma Resources Settles Remaining Balance of Outstanding Debt

Gamma Resources (OTCQB:GAMXF, TSXV:GAMA) has settled the remaining balance of its outstanding convertible promissory notes using cash and equity with certain noteholders.

Rhea-AI Summary

Gamma Resources (OTCQB:GAMXF, TSXV:GAMA) has settled the remaining balance of its outstanding convertible promissory notes using cash and equity with certain noteholders. The company will issue 1,831,500 shares at $0.15 and 1,831,500 warrants to settle $274,725 of debt, plus cash payments of $375,000 and $248,926.34 (the latter within 30 days of TSX Venture approval). Management states that resolving legacy debt supports exploration planning and 2026–2027 field programs.

Positive

• Issuance of 1,831,500 shares and 1,831,500 warrants settles $274,725 of debt
• Additional cash payments of $375,000 and $248,926.34 retire remaining note obligations
• Company reports all legacy debt obligations under the notes are resolved
• Management highlights stronger capital structure ahead of 2026–2027 field programs

Negative

• Issuance of 1,831,500 new shares creates equity dilution for existing shareholders
• 1,831,500 warrants exercisable for 36 months add potential future share overhang
• Cash payments of $375,000 and $248,926.34 reduce available cash reserves
• Final $248,926.34 payment depends on TSX Venture Exchange approval timing

Argus Jun 25 session

-8.26% close to close Open Argus

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News Market Reaction – GAMXF

On Jun 25, the first trading day after this news, GAMXF closed 8.26% below the previous close.

Data tracked by StockTitan Argus for the Jun 25 session.

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VANCOUVER, BRITISH COLUMBIA / ACCESS Newswire / June 22, 2026 / Gamma Resources Ltd. (TSXV:GAMA)(OTCQB:GAMXF)(FSE:MRD0) ("Gamma" or the "Company") is pleased to announce that it has settled the remaining balance of it's outstanding debt through a combination of cash and equity with certain noteholders, including Mercer Street Global Opportunity Fund LLC and Cavalry Fund I LP (collectively, the "Holders"), to fully settle outstanding convertible promissory notes. This agreement (the "Agreement") was initially announced in the Company's March 19^th press release (Gamma Resources Announces Debt Settlement and Insider Warrant Exercises).

Pursuant to the Company's news release of March 19, 2026, Gamma has settled the remaining balance of its outstanding debt through a combination of cash and equity. Under the terms of the agreement the Company will issue 1,831,500 common shares at a price of $0.15 per share and 1,831,500 warrants (each warrant is exercisable at 15 cents for a period of 36 months after issuance, subject to a 4 month plus one day hold period) in settlement of $274,725 of the debt.

In addition, the Company has made a cash payment of $375,000 subsequent to the March 19, 2026 announcement, and will make a cash payment of $248,926.34, payable within 30 days following TSX Venture Exchange approval.

Connor Messler, President of Gamma, commented "With all legacy debt obligations resolved we are excited to increase our focus on exploration planning and program execution. The capital structure created through this Agreement strengthens the Company's position ahead of the 2026-2027 field programs."

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 (TSXV:GAMA), OTC (OTCQB:GAMXF) and Frankfurt (FSE:MRD0).

For Further Information

Mr. C. Connor Messler, President
Email: connor@gammaresourcesltd.com
Tel: (833) 854-6826

SOURCE: Gamma Resources LTD

View the original press release on ACCESS Newswire

FAQ

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What did Gamma Resources (OTCQB:GAMXF) announce about its debt on June 22, 2026?

Gamma Resources announced it has settled the remaining balance of its outstanding convertible promissory notes. According to Gamma, the settlement combines equity issuance and cash payments, resolving legacy debt obligations and allowing management to focus more on exploration planning and upcoming 2026–2027 field programs.

How many shares and warrants will Gamma Resources issue in the June 2026 debt settlement?

Gamma Resources will issue 1,831,500 common shares and 1,831,500 warrants as part of the settlement. According to Gamma, the shares are priced at $0.15 each, settling $274,725 of debt, with each warrant exercisable at $0.15 for 36 months, subject to a hold period.

What are the terms of the warrants issued by Gamma Resources in the GAMXF debt settlement?

Each of the 1,831,500 warrants is exercisable at $0.15 for 36 months after issuance. According to Gamma, the warrants are subject to a four months plus one day hold period, forming part of the consideration used to settle $274,725 of outstanding debt with noteholders.

How much cash is Gamma Resources paying under the June 2026 GAMXF debt settlement?

Gamma Resources is making cash payments of $375,000 and $248,926.34 under the agreement. According to Gamma, the $375,000 was paid after March 19, 2026, and the $248,926.34 is due within 30 days following TSX Venture Exchange approval of the settlement.

How does Gamma Resources’ June 2026 debt settlement affect its capital structure?

The settlement removes legacy convertible note debt while adding new shares and warrants to the capital structure. According to Gamma, resolving these obligations strengthens its position and supports greater focus on exploration planning and execution for the 2026–2027 field programs.

When will Gamma Resources complete the final cash payment related to the GAMXF debt settlement?

Gamma Resources plans to pay $248,926.34 within 30 days after TSX Venture Exchange approval. According to Gamma, this payment follows an earlier $375,000 cash payment and, together with share and warrant issuance, completes the settlement of the outstanding convertible promissory notes.