Business
Zodiac Gold Announces Extension of Non-Brokered Private Placement
Vancouver, British Columbia--(Newsfile Corp. - March 17, 2025) - Zodiac Gold Inc. (TSXV: ZAU) ("Z...
About this update from Zodiac Gold Inc
[{"type":"text","content":"Zodiac Gold Announces Extension of Non-Brokered Private PlacementVancouver, British Columbia--(Newsfile Corp. - March 17, 2025) - Zodiac Gold Inc. (TSXV: ZAU) (\"Zodiac Gold\" or the \"Company\"), a West- African gold exploration company, is pleased to announce that it has received an extension from the TSX Venture Exchange (\"TSXV\") with respect to the duration of its previously announced non-brokered private placement on February 6, 2025, (the \"Offering\"). The outside date of the Offering has been extended until April 14, 2025. The net proceeds of the Offering will be used to launch our Phase III infill drill program at the Arthington target, advance exploration across the Company's three exploration licenses, and for general working capital purposes.The terms of the Offering remain the same, with the Company intending to issue up to 14,285,715 Units at a price of C$0.07 per Unit (the \"Issue Price\") for gross proceeds up to C$1,000,000.05. Each Unit will consist of one common share of the Company (a \"Common Share\") and one Common Share purchase warrant (a \"Warrant\"). Each Warrant will entitle the holder to purchase one Common Share (a \"Warrant Share\") at an exercise price of C$0.12 per Warrant Share for a period of 24 months following the closing of the Offering.Hold PeriodThe securities issued pursuant to the Offering shall be subject to a four-month plus one-day hold period commencing on the day of the closing of the Offering under the applicable TSXV policies.Finders FeesFinders' fees may be paid in connection with the Offering to finders as determined by mutual agreement between the Company and the finders, subject to the approval of the TSXV. The finders' fee shall consist of a cash fee of up to seven percent (7.0%) of the gross proceeds of the Offering raised by the finder and up to 7.0% in finders warrants (the \"Finder Warrants\") of the aggregate number of Units placed by such finders. Each Finder Warrant will entitle the holder thereof to purchase one Common Share at the Issue Price and will be exercisable for a period of 24 months from the closing of the Offering.Insider ParticipationCertain directors of the Company are expected to acquire Units under the Offering. Such participation will be considered to be a \"related party transaction\" as defined under the policies of the TSXV and Multilateral Instrum...