Business
Greenheart Gold Announces up to C$50 Million Non-Brokered Private Placement
La Mancha Investments to increase its holding to 19.90% Longueuil, Québec--(Newsfile Corp. - April 16, 2026) - Greenheart Gold Inc. (TSXV: GHRT) (OTCQX: GHRTF)
About this update from Greenheart Gold Inc.
[{"type":"text","content":" La Mancha Investments to increase its holding to 19.90% Longueuil, Québec--(Newsfile Corp. - April 16, 2026) - Greenheart Gold Inc. (TSXV: GHRT) (OTCQX: GHRTF) (the \"Company\" or \"Greenheart Gold\") is pleased to announce that it intends to proceed with a non-brokered private placement of up to 50,000,000 common shares at a price of C$1.00 per common share for gross proceeds of up to C$50 million (the \"Offering\"). The Company is also pleased that La Mancha Investments S.à.r.l. (\"La Mancha\"), which holds approximately 4.62% of the outstanding common shares of the Company, intends to participate in the Offering and increase its ownership position to approximately 19.90%. In addition, G Mining Ventures Corp. through its wholly owned subsidiary G Mining Guyana Corp. which holds approximately 10.5% of the Company's outstanding common shares, has indicated its intention to exercise its right to participate in the Offering and to acquire such number of shares required to maintain its ownership position. The allocation of the number of common shares each will acquire will depend on the participation of other investors in the Offering. The Company expects to enter into an investor rights agreement with La Mancha similar in form and substance to the investor rights agreement the Company currently has with G Mining Guyana, which will provide La Mancha with the right to nominate one Board member, and to maintain its ownership interest in the Company in the event of the issue of securities by the Company. La Mancha will also commit to standstill restrictions and to restrictions on the transfer or sale of common shares held by La Mancha. The Company intends to use the proceeds of the Offering for exploration work on its projects in Suriname and Guyana, potential new acquisition in the Guiana Shield and exploration work thereon, as well as working capital and general corporate purposes. Insiders of the Company may participate in the Offering. Any participation by G Mining Guyana Corp. or other insiders would be considered a \"related-party transaction\" under Multilateral Instrument 61-101. However, the Company expects such participation to be exempt from the formal valuation and minority shareholder approval requirements on the basis that neither the fair market value of the common shares subscribed for by the insiders, nor the conside...