Business
Greenheart Gold Announces Upsize of Non-Brokered Private Placement of Common Shares to C$59,850,000
Longueuil, Québec--(Newsfile Corp. - April 20, 2026) - Greenheart Gold Inc. (TSXV: GHRT) (OTCQX: GHRTF) (the "Company" or "Greenheart Gold") is pleased to annou
About this update from Greenheart Gold Inc.
[{"type":"text","content":" Longueuil, Québec--(Newsfile Corp. - April 20, 2026) - Greenheart Gold Inc. (TSXV: GHRT) (OTCQX: GHRTF) (the \"Company\" or \"Greenheart Gold\") is pleased to announce that, in response to strong investor demand, it has increased the size of its previously announced non-brokered private placement (the \"Offering\") to up to 59,850,000 common shares of the Company at a price of C$1.00 per Share for aggregate gross proceeds of up to C$59,850,000. As previously announced, La Mancha Investments S.à.r.l. (\"La Mancha\") intends to increase its ownership interest in the Company from approximately 4.62% to 19.90% and the Company expects to enter into an investor rights agreement with La Mancha. In addition, G Mining Ventures Corp., through its wholly owned subsidiary G Mining Guyana Corp., has indicated its intention to exercise its right to participate in the Offering to maintain its approximately 10.5% ownership interest in the Company. Participation by G Mining Guyana Corp. and other insiders will 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 consideration paid for the common shares by such insiders, would exceed 25% of the Company's market capitalization. The Company intends to use the proceeds of the Offering for exploration work on its projects in Suriname and Guyana, potential new acquisitions in the Guiana Shield and exploration work thereon, as well as working capital and general corporate purposes. The Offering is expected to close on or about April 30, 2026. Closing is subject to certain conditions including, but not limited to, the receipt of subscription agreements, settlement of the investor rights agreement with La Mancha, the receipt of all necessary regulatory and other approvals including the acceptance of the TSX Venture Exchange. The common shares to be issued under the Offering will be subject to a hold period expiring four months and one day after the closing date. The common shares have not been registered and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States ab...