Greenheart Gold Announces up to C$50 Million Non-Brokered Private Placement

On April 16, 2026, Greenheart Gold Inc. announced a non-brokered private placement of up to 50,000,000 common shares at C$1.00 per share, targeting gross proceeds of up to C$50 million. The offering is expected to close on or about April 30, 2026. Key strategic shareholders are participating: La Mancha Investments S.à.r.l. intends to increase its stake from approximately 4.62% to 19.90%, and G Mining Ventures Corp. (via G Mining Guyana Corp.) will participate to maintain its ~10.5% ownership. Proceeds are allocated for exploration in Suriname and Guyana, potential acquisitions in the Guiana Shield, and working capital. Shares issued will be subject to a four-month and one-day hold period.

The financing is material positive primarily due to liquidity security and strategic validation rather than immediate operational breakthrough. - Liquidity Security: Historical data indicates a cash burn rate of approximately C$16 million per year (Cash dropped from C$46.4M in Dec 2024 to C$30M in Dec 2025). With multiple drill programs planned for Q1/Q2 2026 (Majorodam, Igab, Tosso Creek), the existing treasury was insufficient to fund resource definition without dilution or debt. This C$50 million injection secures a multi-year runway. - Strategic Validation: La Mancha increasing its position from 4.6% to nearly 20% is a significant vote of confidence. These investors possess deep knowledge of the Guiana Shield assets (via the Reunion Gold/G Mining merger context). Their willingness to invest at C$1.00, which is slightly above the recent trading price of C$0.97, signals they view the current valuation as attractive relative to project potential. - Dilution Risk: The issuance of 50 million shares against a base of ~154 million outstanding represents a ~32% increase in share count if fully subscribed. While dilutive, the price premium (C$1.00 vs C$0.97 market) mitigates immediate downside pressure compared to a discounted placement. - Operational Context: This capital is required to execute on the promising exploration results reported in February 2026 (Igab trenching up to 9.48 g/t Au, Majorodam drilling). Without this funding, these projects would stall before resource estimation.

Greenheart Gold Inc. is a spin-out from the Reunion Gold & G Mining Ventures merger (July 2024), focused on early-stage exploration in Guyana and Suriname. The strategy involves rapid assessment (10-12 months) to identify high-potential targets. - Flagship Project: Majorodam (Suriname). Recent drilling has confirmed a ≥800m north-south mineralized zone (Heuvel Main/East) with intercepts like 15.3m @ 3.72 g/t Au. A 10,000m RC program is planned to expand this footprint. - Secondary Projects: Igab (Suriname), Tosso Creek (Suriname), Gold Hill (Guyana). Igab recently showed high-grade trenching results (Koela West/East trends).