Cabral Gold Announces Closing of $45 Million Private Placement with Strategic Investor

Cabral Gold Inc. announced the closing of a non-brokered private placement of 34,582,754 units at $1.30 per unit, generating gross proceeds of $44,957,580. Alpayana S.A.C. purchased all units as a strategic investor, acquiring a 9.99% undiluted interest and triggering an Early Warning Disclosure.

Each unit includes one common share and half a common share purchase warrant. The warrants are exercisable at $1.70 per share until February 24, 2028. An Investor Rights Agreement grants Alpayana participation rights in future financings and board nomination or observer rights, provided it holds at least 9.99% of the company. Proceeds are designated for exploration, development, and working capital. A statutory hold period expires on December 25, 2026. The transaction is subject to final TSX Venture Exchange acceptance.

This follows the August 13, 2026 announcement of receiving the operating license and cyanide permit, with construction now more than 90% complete and first gold production targeted for September 2026.

Cabral Gold Inc. (CBR) closed a $45 million placement, a follow-up to a previously announced financing that serves as an expected, incremental step rather than a surprise catalyst. The transaction provides critical working capital to fund the final commissioning phase and early ramp-up, directly de-risking the imminent production milestone.

The investment carries strategic weight, granting board rights and a roughly 10% stake, which adds governance credibility and aligns long-term interests. However, this structure introduces approximately 10% dilution to existing shareholders. The warrants associated with the placement carry an exercise price of $1.70, which is currently out-of-the-money relative to the $1.37 share price, limiting immediate dilution pressure. The news confirms capital availability without altering the fundamental production timeline or project economics.

Cabral Gold Inc. (CBR) is advancing the Cuiú Cuiú Gold District in the Tapajós Gold Province of northern Brazil. The company’s flagship project is a Phase 1 gold-in-oxide heap leach operation, for which construction is more than 90% complete and commissioning is currently underway. First gold production is targeted for September 2026, placing the timeline six weeks ahead of the original schedule.

The project’s resource base includes indicated resources of 12.29 million tonnes at 1.14 grams per tonne of gold in fresh basement and 13.56 million tonnes at 0.50 grams per tonne of gold in oxide material, with inferred resources adding further potential. A pre-feasibility study completed in July 2025 projects an internal rate of return (IRR) of 78%, a net present value at a 5% discount rate (NPV5) of US$74 million, and an all-in sustaining cost (AISC) of US$1,210 per ounce, based on a gold price of $2,500 per ounce.