Zodiac Gold increases private placement to C$5 million

Zodiac Gold Inc. (TSXV: ZAU) announced it has increased the size of its non-brokered private placement to C$5 million from the previously announced C$4.025 million due to investor demand.

The West African gold exploration company plans to issue up to 14,285,714 units at C$0.35 per unit. Each unit consists of one common share and one-half warrant, with each full warrant exercisable at C$0.54 per share for 24 months from issuance.

The warrants include an acceleration provision. If the 30-day volume weighted average share price exceeds C$0.65 after four months, the company can accelerate the expiry date, giving holders 30 days to exercise before expiration.

Zodiac Gold stated the net proceeds will fund expansion of drilling at the Todi Gold Project in Liberia, advance exploration across its licenses, and provide working capital. The company expects to close the private placement by June 19, 2026, subject to regulatory approvals and closing conditions.

Certain directors and officers may participate in the offering, which would constitute a related party transaction under securities regulations. The company anticipates relying on exemptions from minority shareholder approval requirements as the insider participation is not expected to exceed 25 percent of market capitalization.

Zodiac Gold operates the Todi Gold Project covering 2,316 square kilometers in Liberia. The project includes five drill-ready targets, with two previously drilled returning what the company described as high-grade gold intercepts.

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