Goldgroup Mining launches $75M private placement with $60M committed

Goldgroup Mining Inc. (TSXV: GORO) (NYSE American: GORO) announced a non-brokered private placement of up to 20,547,945 units priced at $3.65 per unit, seeking aggregate gross proceeds of up to $75 million.

According to a company statement, approximately $60 million of the offering has already been committed by investors including entities representing or affiliated with Trafigura, Eric Sprott, Rick Rule, Fiscal Wisdom, Calu Opportunity Fund, and two additional institutional natural resource funds.

Each unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder to acquire one common share at $5.10 for a period of 18 months from the closing date. If all 10,273,972 warrants are exercised, Goldgroup would receive an additional $52.4 million in gross proceeds.

The offering is expected to close on or about September 30, 2026, subject to regulatory approvals from the TSX Venture Exchange and NYSE American LLC. Securities issued will be subject to a statutory hold period ending four months and one day following the closing date.

Goldgroup said it intends to use net proceeds for working capital, advancing its portfolio of mining and development assets, and pursuing acquisition and merger opportunities. Specific projects named include the San Francisco Gold Project in Sonora, Mexico; the Don David Gold Mine in Oaxaca, Mexico; the Back Forty Project in Michigan; and the Cerro Prieto Gold Mine in Sonora.

The company may pay eligible finders a cash commission of 5% of gross proceeds raised from subscribers they introduce. Certain insiders may participate in the offering, which would constitute a related-party transaction under Multilateral Instrument 61-101, though the company states applicable exemptions apply.

Goldgroup operates four wholly owned assets across Mexico and the United States and is listed on the Frankfurt Stock Exchange under the symbol "55G."

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