Zodiac Gold raises private placement target to C$5.6 million

Zodiac Gold Inc. (TSXV: ZAU) (OTCQB: ZAUIF) (FSE: K19) has increased the size of its non-brokered private placement to C$5,600,000, up from C$5,000,000 announced June 9, 2026, and an original target of C$4,025,000 set on June 4, 2026, according to a company statement.

The company plans to issue up to 17,142,857 units at C$0.35 per unit. Each unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant allows the holder to acquire one common share at C$0.54 per share for 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 holders 30 days to exercise their warrants.

Proceeds are intended to expand the drill program at the Todi Gold Project in Liberia, advance exploration across the company's licenses, and fund working capital. The company anticipates closing the placement on or about June 19, 2026, subject to regulatory approvals.

Certain directors and officers are expected to participate in the offering, which the company has classified as a related-party transaction under Multilateral Instrument 61-101. The company expects to rely on exemptions from minority shareholder approval and formal valuation requirements, as insider participation is not anticipated to exceed 25% of the company's market capitalization.

You May Also Be Interested In

• UBS Downgrades Banco Santander Brasil SA (SANB11:BZ) (BSBR) to Neutral
• enVVeno Medical (NVNO) files $100M mixed shelf
• Oruka Therapeutics (ORKA) files $1B mixed shelf