1911 GOLD CLOSES C$23 MILLION "BEST EFFORTS" LIFE OFFERING & PRIVATE PLACEMENT AND PROVIDES CORPORATE UPDATES
None
On December 4, 2025, 1911 Gold announced the closing of an upsized "best efforts" LIFE offering and private placement for total gross proceeds of approximately C$23 million. This financing was larger than the C$20 million announced on November 12, 2025.
The offering consisted of five different tranches of units: - CDE Offered Units: 8,065,000 units at C$0.992 each, consisting of one flow-through common share and one-half warrant. - Tranche 1 CEE LIFE Units: 3,418,500 units at C$1.104 each, consisting of one flow-through common share and one-half warrant. - Non-FT Units: 5,000,000 units at C$0.80 each, consisting of one common share and one-half warrant. - Tranche 1 CEE PP Units: 2,469,399 units at C$1.104 each, consisting of one flow-through common share and one-half warrant. - Tranche 2 CEE Units: 3,472,518 units at C$1.296 each, consisting of one flow-through common share and one-half warrant.
All associated warrants have an exercise price of C$1.20 and a term of 24 months. The total financing resulted in the issuance of 22,425,417 shares and 11,212,709 warrants.
The release also announced a shares-for-services agreement to issue 1,500,000 common shares at a deemed price of C$0.20 to settle a C$300,000 obligation, and a grant of 300,000 restricted share units (RSUs) to the new COO, Éric Vinet.
This news is materially positive and represents a significant achievement for the company, effectively removing a major uncertainty that was weighing on the stock.
- Overcoming a Major Hurdle: In October and early November 2025, the company's previously announced C$17 million financing was denied by the TSX Venture Exchange. This was a significant negative event that created uncertainty about the company's ability to fund its ambitious plans. The successful closing of this new, larger C$23 million financing demonstrates that management and its agents were able to restructure the deal to meet regulatory approval and that investor demand remains robust.
- Strong Financial Position: The company had C$11.2 million in cash as of September 30, 2025. The gross proceeds of C$23 million (less ~C$1.4 million in fees) significantly bolster the treasury to over C$32 million. This provides a clear runway of more than 18 months to execute on key catalysts, including the completion of a Preliminary Economic Assessment (PEA), an extensive underground drill program, and a bulk sampling program in mid-2026.
- Investor Demand: The offering was upsized from the C$20 million announced on November 12, indicating stronger-than-expected demand from investors. This is a bullish signal, likely supported by the strong drill results released on November 11.
- Dilution and Pricing: The financing is dilutive, adding approximately 22.4 million shares to the outstanding count. The 5 million non-flow-through units were priced at C$0.80, a discount to the market price at the time of announcement, which is typical but worth noting. The various flow-through tranches were priced at significant premiums to the market, reflecting the tax incentives for investors. The addition of over 11.2 million warrants at C$1.20 creates a future overhang, potentially capping the share price as it approaches that level.
Overall, the positive impact of securing full funding and removing the financing uncertainty far outweighs the negative of the dilution. This news allows the company to move forward with its mine restart strategy from a position of financial strength.
1911 Gold Corporation is a Canadian gold explorer focused on advancing its flagship True North Gold Project, located on the Rice Lake property in Manitoba. The project is a past-producing high-grade gold mine with a fully permitted 1,300 tonne-per-day mill and existing infrastructure. The company's strategy is to expand the current NI 43-101 compliant resource of approximately 1.1 million ounces (499k oz Indicated, 644k oz Inferred) and advance the project toward a potential restart of operations targeted for 2027, with the goal of becoming a 100k+ oz per year producer. The property is royalty-free.