Business
Eldorado Gold Closes $2.4 Million Strategic Investment in Gemdale Gold
VANCOUVER, BC / ACCESS Newswire / February 13, 2026 / Gemdale Gold Inc. (TSXV:GEMG) (" Gemda...
About this update from Gemdale Gold, Inc
[{"type":"text","content":"Eldorado Gold Closes $2.4 Million Strategic Investment in Gemdale GoldVANCOUVER, BC / ACCESS Newswire / February 13, 2026 / Gemdale Gold Inc. (TSXV:GEMG) (\"Gemdale Gold\" or the \"Company\") is pleased to announce the closing of a strategic investment by Eldorado Gold Corporation (\"Eldorado\") by way of a non-brokered private placement (the \"Offering\").The Offering consisted of the issuance of 2,000,000 units of the Company (the \"Units\") at a price of C$1.20 per Unit for aggregate gross proceeds of C$2,400,000. Each Unit consists of one common share of the Company (a \"Common Share\") and one-half of one Common Share purchase warrant (each whole warrant, a \"Warrant\"). Each Warrant entitles the holder to purchase one additional Common Share at a price of C$1.50 for a period of 24 months from the date of issuance. No finder's fees or commissions were paid in connection with the Offering. The gross proceeds of the Offering are intended to be used to advance the Company's exploration properties in Finland and for general corporate purposes.In connection with the Offering, the Company and Eldorado entered into an investor rights agreement (the \"IRA\") pursuant to which Eldorado has been granted certain customary rights, including participation rights in future equity financings of the Company, a right of first refusal with respect to certain dispositions of project-level interests, and the right to appoint a representative to participate on a technical committee of the Company, each subject to customary conditions.Dr. Toby Strauss, President and Chief Executive Officer of Gemdale Gold commented, \"We are pleased to welcome Eldorado as a new shareholder and strategic partner. Their investment supports the continued advancement of our exploration portfolio in Finland, and we value the technical depth and operational experience they bring as we move into the next phase of growth for the Company\".Completion of the Offering is subject to the receipt of all necessary regulatory approvals include the approval of the TSX Venture Exchange. The securities issued and issuable pursuant to the Offering are subject to a statutory hold period of four months and one day in accordance with applicable securities laws.Early Warning NoticePrior to the Offering, Eldorado did not beneficially own or control any Common Shares. Following the Strat...