Goldgroup amends private placement units

Executive Summary

• Goldgroup Mining Inc. revised its non‑brokered private placement to issue up to 5 million units at $0.80 per unit, targeting gross proceeds of up to $4 million.
• Each unit now consists of one common share plus one full common‑share purchase warrant (previously a half‑warrant); warrants exercisable at $1.10 for 24 months.
• Net proceeds will be used primarily to assess and pursue acquisition opportunities, supporting the company’s growth strategy.

Key Details

• Units Offered: Up to 5 million units (each = 1 common share + 1 warrant).
• Price per Unit: $0.80 CAD.
• Aggregate Gross Proceeds Target: Up to $4 million CAD.
• Warrant Terms: Each warrant allows purchase of one additional common share at $1.10 CAD; exercisable for 24 months from issuance date.
• Finder’s Fees: Company will pay eligible finders in accordance with TSX‑V policies and applicable securities laws.
• Regulatory Conditions: Placement subject to TSX‑V approval; securities subject to statutory hold period of four months and one day post‑closing.
• Use of Proceeds: Primarily for “diligent assessment and strategic pursuit of acquisition opportunities,” including potential purchases of operating mines or strategic stakes.
• Strategic Context: Funding supports Goldgroup’s organic growth at Cerro Prieto mine and its targeted acquisition program; no acquisitions have yet progressed beyond due‑diligence stage.

Notable Quotes

(No direct quotes provided in the release.)