Northwire Canada EditionThursday, October 15, 2026
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GOLD 4107.90 −1.7% SILVER 55.88 −6.1% COPPER 6.62 −1.6% OIL 95.09 +1.0% PALLADIUM 1096.50 −2.7% CIA 2.64 −0.4% BTO 7.09 −4.3% MCI 0.155 +0.0% CAN 0.065 +0.0% BLDS 0.335 +8.1% SAO 0.050 +0.0% SF 0.315 +0.0% BEA 0.055 −15.4% BMM 3.90 +11.1% AUGC 0.295 −13.2% MFG 3.34 −3.8% CDE 21.33 −7.7% CYG 0.160 −5.9% RSMX 0.100 −4.8% TUF 0.830 −5.7% GPG 0.285 −3.4% GOLD 4107.90 −1.7% SILVER 55.88 −6.1% COPPER 6.62 −1.6% OIL 95.09 +1.0% PALLADIUM 1096.50 −2.7% CIA 2.64 −0.4% BTO 7.09 −4.3% MCI 0.155 +0.0% CAN 0.065 +0.0% BLDS 0.335 +8.1% SAO 0.050 +0.0% SF 0.315 +0.0% BEA 0.055 −15.4% BMM 3.90 +11.1% AUGC 0.295 −13.2% MFG 3.34 −3.8% CDE 21.33 −7.7% CYG 0.160 −5.9% RSMX 0.100 −4.8% TUF 0.830 −5.7% GPG 0.285 −3.4%
Financings Routine −

WASKAHIGAN OIL & GAS CORP. ANNOUNCES PRIVATE PLACEMENT

New $2M lifeline at $0.07 as new insiders take control following failed Terra Metals merger.

By The Northwire Desk — AI Analysis Jun 18, 2026 · 13:18 WOGC · 0.09 Waskahigan Oil & Gas Corp.
Executive Summary
  • Waskahigan Oil & Gas Corp. announced a non-brokered private placement of up to 28,571,428 units at $0.07 per unit.
  • Gross proceeds target up to $2.0 million.
  • Each unit consists of one common share and one transferable common share purchase warrant.
  • Warrants are exercisable at $0.15 per share for a 24-month period.
  • Net proceeds will fund general working capital, business acquisition evaluation, marketing, and investor relations.
  • Offering is subject to regulatory approvals, securities law compliance, and shareholder approval.
  • All securities carry a statutory hold period of 4 months and 1 day.
  • Company may pay finder's fees and/or issue finder's warrants.
  • Insider participation is possible but currently unknown.
Material Impact
  • The private placement introduces approximately 28.57 million new shares against an existing base of ~3.4 million shares, representing roughly 8.4x dilution.
  • The $0.07 issue price represents a significant discount to recent trading levels (consolidating around $0.11-$0.13) and is well below the $0.20 price paid by new insiders in March 2026.
  • The warrant strike of $0.15 is out-of-the-money relative to the current $0.09 price but sits just above the issue price, creating a near-term overhang once the 4-month hold expires.
  • The $2.0 million cash injection addresses immediate working capital needs but does not alter the company's pre-revenue, pre-operational status.
  • The market will likely price in the severe dilution and discount, resulting in a negative or neutral reaction rather than a positive one.
WOGC · Price
Company Overview
  • Waskahigan Oil & Gas Corp. is a Canadian micro-cap exploration company operating in the oil, gas, and mineral sectors.
  • The company previously pursued a reverse takeover of Terra Metals, which failed due to due diligence shortcomings and mutual termination in January 2026.
  • Following the deal's collapse, Ross Ewaniuk was appointed interim CEO, and significant insider ownership was consolidated by Ewaniuk and Jamil Kassam.
  • The company remains pre-revenue and pre-operational, relying entirely on equity financings to fund exploration and potential acquisitions.
Read the original news release →

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