Zodiac Gold further increases offering to $6.1-million

Executive Summary

• Zodiac Gold Inc. has upsized its Listed Issuer Financing Exemption (LIFE) offering from gross proceeds of up to $5.0 million to up to $6.1 million due to strong investor demand.
• The offering consists of units priced at $0.20 each, comprising one common share and one-half of one non-transferable warrant.
• Proceeds will primarily fund a diamond drilling program at the Ben Ben target within the Todi gold project in Liberia, alongside other exploration and working capital needs.

Key Details

• Offering Size: Upsized from $5.0 million to $6.1 million in gross proceeds.
• Unit Price: $0.20 per unit.
• Unit Composition: Each unit consists of (i) one common share and (ii) one-half of one non-transferable common share purchase warrant.
• Warrant Terms:
  • Exercisable for 36 months from the closing date.
  • Exercise price: $0.30 per warrant share.
  • Entitles holder to purchase one additional common share.
• Closing Schedule: Expected to close in tranches, with final closing no later than January 30, 2026.
• Conditions: Subject to necessary approvals, including the TSX Venture Exchange.
• Use of Proceeds:
  • Primary use: Finance diamond drilling program at the Ben Ben target (Todi gold project, Liberia).
  • Secondary uses: Exploration activities, technical studies, and general working capital.
• Administrative Actions: Filing of a third amended and restated offering document on SEDAR+ and the company website.
• Finders' Fees: The company anticipates paying finders' fees to eligible finders introducing investors, in accordance with TSX-V policies.

Notable Quotes

• No direct quotes from management were included in the provided text.