Generation Uranium increases and Closes First Trance of Non-Brokered Private Placement
(TheNewswire)
Vancouver, British Columbia – May29, 2026 - Generation Uranium Inc. (TSXV: GEN, OTCQB: GENRF, FRA: W85) (the “Company” or “Generation”) is pleased toannounce that, further to its news release of May 15, 2026, it hasincreased and closed the first tranche of itsnon-brokered private placement (the “Offering”) and has raised$797,369 through the issuance of 11,390,983 units (the “Units”) ata price of $0.07 per Unit. Each Unit is comprised of one common shareand one-half of one common share purchase warrant (a “Warrant”).Each whole Warrant is exercisable to purchase one common share at aprice of $0.12 per share for a period of two years expiring May 29,2028.
The Company paid finders fees of $9,811.20 and issued140,160 finder warrants at a price of $0.12 per finder warrant sharefor a period of two years expiring May 29, 2028.
All securities issuedare subject to a four month hold period expiring September 30,2026.
Proceeds raised from the issuance of the Units will beused by Generation for exploration on its Canadian uranium and critical mineral properties, generalworking capital, marketing and project development.
An Insider of the Company participated in the Offeringfor $20,020 or 286,000 Units. The issuance of Units to insiders isconsidered a "related party transaction" within the meaning ofMultilateral Instrument 61-101 – Protection of Minority Security Holders inSpecial Transactions ("MI 61-101"). TheCompany is relying on exemptions from the formal valuationrequirements of MI 61-101 pursuant to section 5.5(a) and the minorityshareholder approval requirements of MI 61-101 pursuant to section5.7(1)(a) in respect of such insider participation as the fair marketvalue of the transaction, insofar as it involves interested parties,does not exceed 25% of the Company's marketcapitalization.
Due to strong response from investors, the Companyexpects to close the final tranche of the Offering no later than June12, 2026 for a total raise of up to $1,000,000.
The securities referred to in this news release havenot been and will not be registered under the United States SecuritiesAct of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered orsold within the United States or to, or for the account or benefit of,U.S. persons absent registration under the U.S. Securities Act andapplicable state securities laws, unless an exemption from suchregistration is available. This news release does not constitute anoffer for sale of securities for sale, nor a solicitation for offersto buy any securities. Any public offering of securities in theUnited States must be made by means of a prospectus containingdetailed information about the company and management, as well asfinancial statements. “United States” and “U.S. person” havethe respective meanings assigned in Regulation S under the U.SSecurities Act.
About Generation Uranium
Generation Uranium is a Canadian exploration companyfocused on advancing high?quality uranium assets in premier jurisdictions. Its flagshipYath Project is strategically located in Nunavut’s Angilakdistrict—one of Canada’s most active and rapidly emerging uraniumcamps. With a growing portfolio of high?priority targets and exposure toproven mineralized trends, Generation is well positioned to contributeto the future global supply of clean nuclear energy.
For Further Information
Michael Collins, P.Geo., CEO
+1(778) 819-7881
Roger Leschuk, VP Corporate Development
+1(604) 720-4544
Neither TSXVenture Exchange nor its Regulation Services Provider (as that term isdefined in the policies of the TSX Venture Exchange) acceptsresponsibility for the adequacy or accuracy of this release. The TSXVenture Exchange has neither approved nor disapproved of the contentsof this news release.
Not fordistribution to United States Newswire Services or for disseminationin the United States
Copyright (c) 2026 TheNewswire - All rights reserved.
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