Galactic Gold Announces Upsize of Non-Brokered Private Placement to Gross Proceeds of $2.15 Million

Galactic Gold Corp. has executed a series of financing and exploration updates culminating in an upsized private placement announcement on April 20, 2026. The company increased its non-brokered private placement from an initial $1 million to $1.6 million (April 17) and finally to $2.15 million (April 20). - Financing Terms: Shares issued at C$0.25 per common share, totaling up to 8,600,000 shares. - Use of Proceeds: Exploration activities on the Hardrock West property, working capital, and general corporate purposes. - Acquisition: On April 15, the company optioned contiguous Sturgeon Bridge Properties for $200,000 cash and 2,275,000 shares over three years. - Exploration Progress: Phase I district-scale targeting analysis completed in March 2026, identifying Tier 1 anchor targets (Kowalski Lake, Solomon’s Pillars) for near-term drilling. - Geophysics: Helicopter-borne VTEM and magnetic gradiometer survey launched April 7 over Hardrock West to evaluate >85 km of orogenic faults.

The most recent news represents a material positive step regarding capital security but carries significant dilution risks that temper the upside potential. - Capital Security: The upsizing from $1M to $2.15M indicates strong investor demand, validating management's narrative and securing runway for the 2026 exploration program. - Dilution Concerns: Issuing 8.6 million shares on a base of ~49.38 million shares represents approximately 17% dilution to existing shareholders. - Pricing Discount: The offering price of $0.25 is significantly below the recent market close of $0.33 (April 17), representing a discount of roughly 24%. While non-brokered placements often trade at discounts, this gap suggests management may be prioritizing capital raise over share price stability in the short term. - Strategic Alignment: The financing directly supports the geophysical survey and drilling targets identified in March, aligning capital with operational milestones. However, the lack of a major strategic investor (e.g., Sprott, Lundin) limits the "Game Changer" potential compared to standard junior miner financings.

Galactic Gold Corp. focuses on the Hardrock West Property located in northwestern Ontario within the Beardmore-Geraldton Greenstone Belt. - Property Size: Approximately 15,000 to 26,245 hectares (claims vary by source). - Location: ~10 km west of Equinox Gold’s Greenstone Mine and adjacent to Brookbank Deposit. - Geological Setting: Situated on orogenic faults with historical production in the surrounding belt (Northern Empire, Leitch/Sand River mines). - Status: Exploration / Early-stage development. - Infrastructure: Located on Highway 11 with access to powerlines. - Management: Led by CEO Ken Berry and CFO Raj Kang.