Generation Uranium Announces Closing of First Tranche of Oversubscribed Private Placement

Core Points - Generation Uranium Inc. has successfully closed the first tranche of its non-brokered private placement, raising gross proceeds of $167,500 through the issuance of 3,350,000 units at a price of $0.05 per unit [1][4] - Each unit consists of one common share and one common share purchase warrant, with the warrant allowing the purchase of an additional share at $0.10 for two years [2] - The company has paid a cash commission and issued 24,000 non-transferable broker warrants to Haywood Securities Inc. as finder's fees [3] Financial Details - The total gross proceeds from the first tranche amount to $167,500 [1] - The price per unit is set at $0.05, with each warrant priced at $0.10 for future purchases [2] - The net proceeds will be allocated for general working capital, corporate purposes, and ongoing exploration activities [4] Regulatory Information - The securities issued are subject to a statutory hold period of four months and one day, expiring on February 3, 2026 [4] - The offering is pending final approval from the TSX Venture Exchange [4] Company Overview - Generation Uranium is engaged in the exploration and development of mineral properties, holding a 100% interest in the Yath Uranium Project located in Nunavut [5]