Business
Gold X2 Announces Closing of First Tranche of Private Placement for Gross Proceeds of Approximately $43,160,000
All dollar amounts are in Canadian dollars ("$") unless otherwise indicated Vancouver, British...
About this update from Gold X2 Mining Inc.
[{"type":"text","content":"Gold X2 Announces Closing of First Tranche of Private Placement for Gross Proceeds of Approximately $43,160,000All dollar amounts are in Canadian dollars (\"$\") unless otherwise indicatedVancouver, British Columbia--(Newsfile Corp. - February 19, 2026) - Gold X2 Mining Inc. (TSXV: AUXX) (OTCQB: GSHRF) (FSE: DF8) (\"Gold X2\" or the \"Company\"), is pleased to announced that it has closed the first tranche (the \"First Tranche\") of its non-brokered private placement (the \"Private Placement\") as previously announced in the Company's news release dated January 27, 2026. The Company intends to close the second and final tranche of the Private Placement in the coming weeks. In connection with the First Tranche, Gold X2 issued 23,800,000 units of the Company (each, a \"Unit\") at a price of $0.95 per Unit for gross proceeds of $22,610,000 and 16,666,666 charity flow-through common shares of the Company (each, a \"Charity FT Share\") at a price of $1.233 per Charity FT Share for gross proceeds of $20,549,999.18. Each Unit is comprised of one common share and one common share purchase warrant (each, a \"Warrant\"). Each warrant is exercisable for a period of 2 years to acquire an additional common share (a \"Warrant Share\") at $1.42 per Warrant Share. The gross proceeds from the sale of the Charity FT Shares in the First Tranche will be used to advance exploration and resource expansion activities at the Company's Moss Gold Project in Thunder Bay which will qualify as \"Canadian Exploration Expenses\" and \"flow-through mining expenditures\", as those terms are defined in the Income Tax Act (Canada) (the \"Qualifying Expenses\"). The Qualifying Expenses will be incurred and renounced by Gold X2 to the subscribers of the Charity FT Shares in the First Tranche effective as at September 15, 2026. Proceeds from the offering of Units will be used to advance the exploration of the Company's Moss Gold Project.All securities issued pursuant to the First Tranche will be subject to a statutory hold period of four months plus one day from the date of issuance, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside Canada. No finder's fees were paid in connection with the First Tranche.None of the securities sold in connection with the First Tranche have been and will not be registered und...