Northwire Canada EditionMonday, November 2, 2026
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Gold 3,898.90 −3.3% Silver 49.28 −5.9% Copper 6.48 −1.8% Oil 104.12 +2.1% Palladium 987.70 −1.7% HCH 1.25 −3.9% CRD 0.040 −20.0% ENEV 0.005 +0.0% MOON 5.23 −7.9% ORE 2.56 −4.8% ASE 0.620 −14.5% LKY 0.005 + SOI 0.165 −5.7% ECR 0.190 −5.0% OZ 0.240 −9.4% ELEC 0.110 +4.8% WHY 0.260 −3.7% PHD 0.030 −33.3% OMI 0.220 −10.2% EML 0.105 +0.0% TECT 1.37 −2.8% Gold 3,898.90 −3.3% Silver 49.28 −5.9% Copper 6.48 −1.8% Oil 104.12 +2.1% Palladium 987.70 −1.7% HCH 1.25 −3.9% CRD 0.040 −20.0% ENEV 0.005 +0.0% MOON 5.23 −7.9% ORE 2.56 −4.8% ASE 0.620 −14.5% LKY 0.005 + SOI 0.165 −5.7% ECR 0.190 −5.0% OZ 0.240 −9.4% ELEC 0.110 +4.8% WHY 0.260 −3.7% PHD 0.030 −33.3% OMI 0.220 −10.2% EML 0.105 +0.0% TECT 1.37 −2.8%
Financings Routine +

Upside Gold Corp. Announces Closing of $5 Million Brokered Private Placement

Upside Gold Secures $5M to Fund 4,000m BC Drill Program Amidst Pre-Revenue Exploration Phase

By The Northwire Desk — AI Analysis Jun 12, 2026 · 08:52 UG · 1.17 Upside Gold Corp.
Executive Summary
  • Upside Gold Corp. closed a brokered private placement generating aggregate gross proceeds of $5,137,600.
  • The offering consisted of non-flow-through, flow-through, and premium flow-through units priced between $1.25 and $1.735 per unit.
  • Each unit includes one common share and 0.5 warrant, with warrants exercisable at $1.80 for a 36-month term.
  • Proceeds are allocated to eligible Canadian exploration expenses in British Columbia, specifically funding the planned 4,000-metre summer diamond drilling program at the Kena Gold-Copper Project.
  • The closing follows the initial announcement on May 21, 2026, and aligns with the company's stated Q2 2026 financing target.
Material Impact
  • The $5.14M capital raise materially extends the company's cash runway, directly addressing the $825,560 cash balance reported in Q1 2026 and the $588,196 net loss incurred in the first quarter.
  • Pricing between $1.25 and $1.735 closed above the recent market trading range of $1.10–$1.17, indicating strong investor demand and a lack of significant discounting.
  • The $1.80 warrant strike price is out-of-the-money relative to current levels, providing a potential future capital event without immediate dilution.
  • The funds directly enable the execution of the 4,000-metre drill program announced in early June, which is critical for validating the historic resource and targeting an updated NI 43-101 estimate by 2027.
  • While dilutive, the financing is a necessary and expected step to fund pre-revenue exploration and meet option agreement milestones.
UG · Price
Company Overview
  • Upside Gold Corp. is a pre-revenue gold and copper exploration company focused on the Kena Gold-Copper Project in southeastern British Columbia.
  • The company holds an option agreement to acquire 100% of the Kena property, which covers approximately 10,115 hectares of mineral claims.
  • Historical exploration has identified a large gold-copper system, with a 2021 NI 43-101 estimate reporting 32.1M tonnes at 0.544 g/t Au (Indicated) and 177.5M tonnes at 0.486 g/t Au (Inferred).
  • Management is compiling historic data, building 3D geological models, and advancing a multi-year exploration strategy to expand the resource and evaluate copper-silver potential.
  • The company trades on the Canadian Securities Exchange (UG), Frankfurt Stock Exchange (47I), and OTCQB Venture Market (UGODF).
Read the original news release →

More from Upside Gold Corp.

Jun 03, 2026 · 09:00

Upside Gold Maps 4,000-Metre Drill Campaign Toward 2027 Resource, But Dilution and Execution Risks Loom Over Pre-Revenue Kena Project

Drill Results May 27, 2026 · 09:30

Upside Gold Secures Permit for Kena Drilling, Capitalizing on Recent Financing to Advance High-Grade Copper-Gold Targets

Drill Results May 21, 2026 · 16:36

Upside Gold Secures Runway for Kena Expansion Amidst Dilution Concerns

Financings May 13, 2026 · 08:30

Upside Gold Corp.

M&A / Property Apr 27, 2026 · 02:00

Upside Gold Expands Kena Footprint With High-Grade Historical Claims

M&A / Property Apr 07, 2026 · 08:30

Upside Gold’s new 3‑D model unlocks a 7 km gold‑copper system, sharpening drill targets

Drill Results