Goldgroup Announces CAD $6.75 Million Investment By Eric Sprott In Recently Announced CAD $7.75 Million Private Placement First Tranche Closed

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[{"type":"text","content":"Goldgroup Announces CAD $6.75 Million Investment By Eric Sprott In Recently Announced CAD $7.75 Million Private Placement First Tranche Closed\n\n\n (TheNewswire)\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n Vancouver, British Columbia (March\n17, 2025)\n \n\n . -\n \n\n TheNewswire\n-\n \n\n Goldgroup Mining Inc. (“\n \n\n Goldgroup\n \n\n ” or the\n“\n \n\n Company\n \n\n ”) (TSX-V:GGA, OTC:GGAZF) is pleased to announce that it\nhas closed the first tranche of the CAD $7.75 million non-brokered\nprivate placement (the “\n \n\n Private Placement\n \n\n ”) previously announced on\nMarch 11, 2025 and March 12, 2025.\n \n\n\n\n The first tranche comprises a total of 23,333,334 units\n(each, a “\n \n\n Unit\n \n\n ”) at CAD $0.30 per Unit for gross proceeds of\napproximately CAD $7,000,000. Each Unit consists of one common share\n(a “\n \n\n Common Share\n \n\n ”) and one-half common share purchase warrant, with each\nfull warrant (a “\n \n\n Warrant\n \n\n ”) being exercisable to purchase one\nCommon Share at a price of $0.45 until March 17, 2027.\n \n\n\n\n Mr. Eric Sprott, through 2176423 Ontario Ltd., a\ncorporation which is beneficially owned by him, acquired 22,500,000\nUnits at $0.30 per Unit for total consideration of $6,750,000. The\nacquisition of 22,500,000 Units resulted in holdings of approximately\n12.5% of the outstanding Common Shares of the Company and 17.6% of the\noutstanding Common Shares of the Company on a partially diluted basis\n(assuming exercise of all 2176423 Ontario Ltd.’s Warrants). Prior to\nthe Private Placement, Mr. Sprott did not own or control any\nsecurities of the Company.  Following completion of the Private\nPlacement, Mr. Sprott will beneficially own and control 22,500,000\nCommon Shares and 11,250,000 Warrants representing 12.5% of the\noutstanding Shares on a non-diluted basis and 17.6% of the outstanding\nShares on a partially diluted basis assuming the exercise of such\nWarrants.\n \n\n\n\n The Units were acquired by Mr. Sprott for investment\npurposes. Mr. Sprott has a long-term view of the investment and may\nacquire additional securities of the Company including on the open\nmarket or through private acquisitions or sell securities of the\nCompany including on th...

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