Generation Uranium Inc. has arranged a non-brokered private placement to issue 4,000,000 shares at issue price CAD 0.1 per share for a gross proceeds of CAD 400,000 on February 6, 2024. The transaction is subject to the approval of the TSX Venture Exchange. All shares issued in connection with the offering will be subject to a statutory holding period of four months and one day after the closing of the offering.

A finder's fee of 8% in common shares and 8% in common share purchase warrants will be paid upon closing. Each finder warrant will entitle the holder to purchase one common share at an exercise price of CAD 0.10 for 24 months following closing. All securities issued to investors under the offering will be subject to resale restrictions expiring six months from closing as to 50% of the securities and eight months from closing as to 50% of the securities.