Epic Gold closes $3.1M private placement for mineral exploration

Epic Gold Corp. (CSE: EPG) (OTCQB: NFLDF) (FSE: 6340) has closed a non-brokered private placement, raising $3,108,000 through the issuance of 22,200,000 units at $0.14 per unit, according to a press release dated October 2, 2026.

Each unit consists of one common share and one warrant, with each warrant entitling the holder to purchase one additional common share at $0.20 for 42 months, expiring March 29, 2030.

The company paid finders fees of $238,445 and issued 1,703,177 finder warrants at $0.20, also expiring March 29, 2030. All securities issued are subject to a four-month hold period expiring January 30, 2027.

Insiders participated in the offering for $127,440.46. The company said the insider participation qualifies as a related party transaction under Multilateral Instrument 61-101 but is exempt from formal valuation and minority shareholder approval requirements, as the fair market value of insider involvement does not exceed 25% of the company's market capitalization.

Proceeds from the placement will be directed toward exploration on the company's Canadian mineral properties and general working capital.

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