Zodiac Gold closes $6.1-million private placement

Executive Summary

• Zodiac Gold Inc. has closed its previously announced listed issuer financing exemption offering, raising aggregate gross proceeds of $6.1 million.
• The company issued 30.5 million units at a price of $0.20 per unit, driven by strong investor demand.
• Net proceeds will be allocated to advance exploration programs (including drilling and technical work) across its gold assets in Liberia and for general working capital.

Key Details

• Gross Proceeds: $6.1 million.
• Units Issued: 30.5 million units.
• Price Per Unit: $0.20.
• Unit Composition: Each unit consists of one common share and one-half of one non-transferable common share purchase warrant.
• Warrant Terms (Investors): Exercise price of $0.30 per share; exercisable for 36 months from the date of closing.
• Use of Proceeds: Advancing exploration programs across its portfolio of gold assets in Liberia (including continued drilling and technical work) and general working capital.
• Finder’s Compensation:
  • Canaccord Genuity Corp.: $56,940 cash and 284,700 compensation warrants.
  • Ventum Financial Corp.: $6,000 cash and 30,000 compensation warrants.
  • Research Capital Corp.: $30,000 cash and 150,000 compensation warrants.
  • Red Cloud Securities Inc.: $1,000 cash and 5,000 compensation warrants.
  • Haywood Securities Inc.: $112,000 cash and 560,000 compensation warrants.
• Finder’s Warrant Terms: Each compensation warrant entitles the holder to purchase one common share at an exercise price of $0.20. Subject to a statutory hold period of four months and one day from issuance.
• Regulatory Basis: Issued pursuant to the listed issuer financing exemption under National Instrument 45-106 and Coordinated Blanket Order 45-935. Units are not subject to resale restrictions in Canada.

Notable Quotes

• "This financing is a major validation of Zodiac Gold's strategy, assets and team... The level and quality of demand we saw speaks to the scale of our opportunity in Liberia and the growing recognition that Zodiac Gold controls one of the most compelling emerging gold districts in West Africa. With this capital secured, we are funded to aggressively advance drilling and unlock value across our portfolio." — David Kol, Chief Executive Officer