on Gamma Resources LTD (CVE:GAMA)
Gamma Resources Finalizes Debt Settlement and Insider Warrant Exercises
Gamma Resources Ltd. has announced a definitive debt settlement agreement with certain noteholders, including Mercer Street Global Opportunity Fund LLC and Cavalry Fund I LP. This agreement aims to fully settle outstanding convertible promissory notes, thus enhancing the company's balance sheet.
Under the agreement, Gamma will issue 1,831,500 common shares and 1,831,500 warrants, each exercisable at C$0.15 for 36 months, alongside a cash payment of C$623,926.34. The agreement also involves the exercise of 5,500,000 existing warrants, generating C$825,000 in gross proceeds.
The debt settlement remains subject to TSX Venture Exchange approval. Gamma's CEO, Gabriel Alonso-Mendoza, indicated that the agreement strengthens the company's focus on advancing U.S. uranium projects.
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