Zodiac Gold closes C$5.6M private placement one day late

Zodiac Gold Inc. (TSXV: ZAU) (OTCQB: ZAUIF) (FSE: K19) closed a non-brokered private placement on June 24, 2026, one day later than previously announced, according to a company statement.

The offering involved the issuance of 16,000,000 units at C$0.35 per unit, generating gross proceeds of C$5,600,000. Each unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant allows the holder to purchase one additional common share at C$0.54 for a period of 24 months from issuance.

The warrants include an acceleration clause: if the 30-day volume weighted average share price exceeds C$0.65 after four months from issuance, the company may accelerate the expiry date, giving warrant holders 30 days to exercise before expiration.

In connection with the offering, the company paid C$143,602.20 in cash finder's fees and issued 398,860 compensation warrants, each exercisable at C$0.35 per share for 24 months. The compensation warrants are non-transferable.

An insider subscribed for 55,399 units totaling C$19,389.65, qualifying the transaction as a related-party transaction under TSX Venture Exchange policies and Multilateral Instrument 61-101. The company applied exemptions from minority shareholder approval and formal valuation requirements, citing that the fair market value of the insider's participation did not exceed 25% of the company's market capitalization.

All securities issued are subject to a statutory hold period expiring four months and one day from the date of issuance. The offering remains subject to final approval from the TSX Venture Exchange.

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