Independence Gold Announces Closing of Non-Brokered Private Placement
Independence secures $6.25m to fund a 10,000m winter drill program at the 3Ts project.
Independence Gold Corp. has closed a non-brokered private placement that raised $6,250,000 in gross proceeds. The offering comprised 37,522,500 flow-through common shares and 1,540,000 units, both priced at $0.16 per security. Proceeds from the flow-through shares are designated for eligible Canadian exploration expenditures at the 3Ts Project, with renunciations effective December 31, 2026.
Each unit contains one common share and one-half of a common share purchase warrant. The warrants are exercisable at $0.22 per share for 24 months. The company paid $209,817.60 in cash finder's fees and issued 1,311,360 non-transferable finder's warrants exercisable at $0.22 until October 26, 2028. Insiders subscribed for 759,000 units, contributing $121,440 to the offering.
The transaction was approved by the Board and relies on exemptions from minority shareholder approval and formal valuation requirements under MI 61-101. All issued securities carry a statutory hold period of four months and one day. The funds will fully finance a winter drill program of approximately 10,000 metres at the 3Ts Project to test high-priority targets.
Independence Gold Corp. (IGO) has closed a previously announced financing, initially disclosed on September 29 and increased on October 22. The capital raise provides the necessary runway to execute the company’s planned 10,000-metre winter drill program, supporting management’s exploration strategy and structural targeting model.
The offering is dilutive, adding approximately 39 million shares or units to the capital structure. The securities were issued at a price of $0.16, which aligns with recent trading ranges, while the $0.22 warrant strike provides a near-term ceiling for speculative buying. Insider participation in the offering totaled $121,440, demonstrating management confidence in the project’s upside, though the amount is modest relative to the total raise.
Independence Gold Corp. (IGO) is an exploration-stage company focused on gold and silver projects in British Columbia and Yukon. Its flagship asset is the 3Ts Gold and Silver Project, located on the Nechako Plateau in British Columbia, approximately 16 km southwest of Artemis Gold's Blackwater Mine. The company’s land package comprises 31 mineral claims covering approximately 35,486 hectares.
The project is characterized as a low-sulphidation epithermal quartz-carbonate vein district with at least 20 known mineralized veins, 12 of which remain untested by drilling. In its 2025 resource update, Independence Gold introduced an Indicated category for the first time. The total Indicated resource stands at 2.79 million tonnes at 4.22 g/t AuEq, while the total Inferred resource is 2.96 million tonnes at 4.06 g/t AuEq.
During the 2026 exploration program, the company completed a 10,000-metre spring/summer drill campaign that identified three new blind veins—Balrog, Goofy, and Dixie—and validated a district-scale structural targeting model. Additionally, AI-assisted prospectivity analysis with Mineural Inc. is underway to generate new targets.