Targa increases private placement to $3.5-million

Executive Summary

• Targa Exploration Corp. increased its non‑brokered private placement from $3 M to up to $3.5 M, issuing up to 14 million units at C$0.25 per unit.
• Each unit includes one common share and one warrant (exercise price C$0.50) with a standard 24‑month expiry and an acceleration clause tied to the CSX trading price.
• Net proceeds are earmarked for exploration of existing mineral projects and working capital; closing is expected around Feb 20, 2026.

Key Details

• Offering Size: Increased to gross proceeds of up to C$3.5 million (from C$3 M).
• Units Offered: Up to 14 million units at C$0.25 per unit.
• Unit Composition: 1 common share + 1 common share purchase warrant.
• Warrant Terms:
• Exercise price C$0.50 per share.
• Expiry 24 months after closing, subject to acceleration.
• Acceleration trigger: if the 10‑day VWAP on the Canadian Securities Exchange ≥ C$0.90, Targa may accelerate expiry to 30 days after a press release announcing the acceleration. Unexercised warrants expire without compensation.
• Use of Proceeds: Primarily for exploration of mineral projects and/or working capital.
• Closing Date: Anticipated on or about Feb 20, 2026, subject to customary conditions.
• Statutory Hold Period: All securities issued are subject to a four‑month‑plus‑one‑day hold period from closing.
• Finder’s Fees: Company may pay eligible finders in connection with the offering.

Notable Quotes

(No executive quotes were provided in the release.)