Business
Zodiac Gold Increases Non-Brokered Private Placement up to C$5 Million
Vancouver, British Columbia--(Newsfile Corp. - June 9, 2026) - Zodiac Gold Inc. (TSXV: ZAU) (OTCQB: ZAUIF) (FSE: K19) ("Zodiac Gold" or the "Company"), a
About this update from Zodiac Gold Inc
Vancouver, British Columbia--(Newsfile Corp. - June 9, 2026) - Zodiac Gold Inc. (TSXV: ZAU) (OTCQB: ZAUIF) (FSE: K19) ("Zodiac Gold" or the "Company"), a West-African gold exploration company, is pleased to announce that, due to strong investor demand, it has increased the size of its previously announced non-brokered private placement (the "Offering"). The Company now intends to raise aggregate gross proceeds of up to C$5,000,000, an increase from the C$4,025,000 previously announced on June 4, 2026. The net proceeds of the Offering will be used to expand the drill program at the Todi Gold Project, advance exploration across the Company's exploration licenses and for working capital purposes. The Company anticipates closing the private placement by June 19, 2026, subject to final regulatory approvals and customary closing conditions.OfferingIn connection with the increased Offering, the Company now intends to issue up to 14,285,714 units of the Company (the "Units") at a price of C$0.35 per Unit (the "Issue Price"). Each Unit will consist of one common share of the Company (a "Common Share") and one-half of one common share purchase warrant (a "Warrant"). Each whole Warrant will entitle the holder to acquire one (1) Common Share (a "Warrant Share") for a period of 24 months from the date of issuance (subject to acceleration) (the "Expiry Date"), at an exercise price of C$0.54 per share. The warrants include an acceleration feature: if, after four months following the issuance of the Warrants, the 30-day volume weighted average share price exceeds C$0.65, the Company shall provide notice accelerating the expiry date. Upon receipt of such notice, holders will have 30 days to exercise their Warrants, after which any unexercised warrants will expire at 4:00 p.m. (Vancouver time) on the specified date.The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation to buy any securities in any jurisdiction.Insider ParticipationIt i...