Financings
Zodiac Gold Increases Non-Brokered Private Placement up to C$5 Million
Zodiac upsizes financing to fund the Todi drilling campaign, targeting high-grade intersections across the deposit.
Executive Summary
- On June 9, 2026, Zodiac Gold Inc. announced an increase to its non-brokered private placement, raising the target from C$4.025 million to C$5.0 million.
- The offering consists of up to 14,285,714 units priced at C$0.35 per unit.
- Each unit comprises one common share and one-half of a common share purchase warrant.
- Warrants carry an exercise price of C$0.54 and a 24-month term, with an acceleration clause if the 30-day VWAP exceeds C$0.65 after four months.
- Net proceeds will fund the expansion of the drill program at the Todi Gold Project (specifically the Ben Ben area), advance exploration across licenses, and support working capital.
- Anticipated closing is June 19, 2026, subject to TSXV approval.
- Insider participation is expected, structured as a related-party transaction under MI 61-101, capped at 25% of market cap.
Material Impact
- The upsizing from C$4.025M to C$5.0M reflects strong investor demand and management's confidence in funding the aggressive 14,000m drilling program without delay.
- The financing is dilutive but necessary to de-risk the Arthington and Ben Ben targets ahead of the planned Q4 2026 resource estimate.
- The warrant terms are standard for TSX Venture explorers, providing upside participation for investors while capping immediate equity dilution.
- The news aligns with the company's stated exploration strategy and does not introduce new operational risks or changes to the geological thesis.
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Company Overview
- Zodiac Gold Inc. is a West African gold explorer focused on the Todi Gold Project in Liberia.
- The company holds a 2,316 km² land package along the Todi Shear Zone, a proven gold-bearing structural corridor.
- Flagship targets include Arthington, Ben Ben, Youth Camp, and Feh Feh.
- Arthington has yielded high-grade intersections (e.g., 18m @ 4.67 g/t Au) across 37 of 39 drill holes, confirming a continuous mineralized corridor.
- Ben Ben represents a new district-scale target with trenching and drilling showing broad, low-to-moderate grade mineralization with high-grade shoots.
- The company also holds iron ore prospects at Bomi South and Bong West, with a non-binding term sheet signed with Vitol for marketing and pre-payment facilities.
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Jun 25, 2026 · 07:01