1911 Gold upsizes financing to C$17 million

1911 Gold Corporation (TSXV: AUMB) increased the size of its previously announced private placement and LIFE offering to C$17 million, according to a company statement.

The Vancouver-based junior developer amended its agreement with Haywood Securities as lead agent to expand the offering structure. The upsized offering includes up to 3.18 million flow-through shares qualifying as Canadian exploration expenses at C$0.64 per share and 14.8 million shares qualifying as accelerated Canadian development expenses at C$0.554 per share.

The company will also sell up to 6.89 million common shares at C$0.45 per share and 5.66 million additional flow-through shares at C$0.64 per share. The combined offerings target aggregate gross proceeds of approximately C$17 million.

Agents receive an option to sell up to an additional 15% of the marketed offering in flow-through shares at C$0.64 per share, exercisable up to 48 hours before closing.

The company will use proceeds from flow-through shares to incur qualifying expenditures by December 31, 2026, with renunciation to purchasers by December 31, 2025 for exploration expense shares and December 31, 2026 for development expense shares. Proceeds from common shares will fund general corporate and working capital purposes.

Agents will receive a 6% cash commission on gross proceeds and compensation options equal to 6% of shares sold, exercisable at C$0.45 for 24 months from closing.

The offering is expected to close around October 15, 2025, subject to regulatory approvals including TSX Venture Exchange acceptance.

1911 Gold operates a land package of more than 61,647 hectares in Manitoba's Rice Lake greenstone belt and owns the True North mine and mill complex.

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