High-Grade Gold Just Became the Scarcest Bet in Mining

• On 2 Apr 2026 GPAC closed an upsized public offering of 42.6 million units at $0.47 per unit, generating $20.02 M gross proceeds.
• Units consist of one common share plus half a warrant (full warrant exercisable at $0.70 until 2 Apr 2028).
• Net proceeds are earmarked to advance the flagship Wild Dog gold‑copper project in Papua New Guinea and for general working capital.
• The offering also included compensation options for agents covering up to 2,462,808 shares.

• Financing: The $20 M raise fully funds GPAC’s 2026 drill program at Wild Dog (≈ 5 km corridor) and provides a cash buffer for other PNG assets.
• Market expectation: GPAC had been signaling the need for additional capital throughout Q1 2026 (public offering announced on 25 Mar). The market priced the units modestly ($0.47) and anticipated the raise; therefore the news is routine rather than a surprise catalyst.
• Share dilution: Issuing 42.6 M new shares (~38% of existing float) dilutes current shareholders but is offset by the cash infusion needed to avoid funding shortfalls.
• Warrant upside: Warrants priced at $0.70 give investors future participation if the stock rallies above that level, adding modest optionality.
• Overall effect: Positive for balance‑sheet strength and drill continuity, but no immediate change to resource estimates or valuation multiples; hence classified as Routine – Positive.

Great Pacific Gold Corp. is a junior explorer focused on high‑grade epithermal gold‑copper systems in Papua New Guinea, principally the Wild Dog Project (15 km structural corridor with Sinivit, Kavasuki, Kasie Ridge targets). The project has delivered multiple >$30 g/t AuEq intercepts and hosts a large porphyry copper‑gold target at Magiabe.