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LUG 81.27 +2.4% ETG 2.65 +1.1% ARIC 0.860 +2.4% ABC 0.020 +0.0% WEC 0.010 +0.0% NTB 0.020 +0.0% URC 3.83 −8.2% BEX 0.085 +6.2% SUM 1.32 +0.0% FMN 0.270 +10.2% PHNM 0.405 +12.5% HDRO 1.11 −6.7% PWM 0.620 −1.6% LIO 0.155 +10.7% NTH 0.160 +1.6% ELEF 0.120 −4.0% LUG 81.27 +2.4% ETG 2.65 +1.1% ARIC 0.860 +2.4% ABC 0.020 +0.0% WEC 0.010 +0.0% NTB 0.020 +0.0% URC 3.83 −8.2% BEX 0.085 +6.2% SUM 1.32 +0.0% FMN 0.270 +10.2% PHNM 0.405 +12.5% HDRO 1.11 −6.7% PWM 0.620 −1.6% LIO 0.155 +10.7% NTH 0.160 +1.6% ELEF 0.120 −4.0%
Financings

Group Eleven Announces C$9M Bought Deal Private Placement

By The Northwire Desk — AI Analysis Mar 02, 2026 · 19:23 ZNG · 1.1 Group Eleven Resources Corp.
ZNG · Price

Executive Summary

  • Group Eleven Resources Corp. entered into a bought‑deal private placement for gross proceeds of C$9 million, issuing 10 million common shares at C$0.90 each.
  • Underwriters have an option to purchase up to an additional 1.5 million shares for up to C$1.35 million.
  • Net proceeds will fund exploration drilling at the Ballywire and Stonepark projects and provide working capital/general corporate purposes.

Key Details

  • Offering Size: C$9,000,000 gross proceeds from issuance of 10,000,000 common shares.
  • Issue Price: C$0.90 per share.
  • Underwriter Option: Up to 1,500,000 additional shares at the same price, potentially adding C$1,350,000 gross proceeds.
  • Closing Date: Expected on or about March 11, 2026 (no later than 45 days after release).
  • Commission Structure: Cash commission of 6.0% of gross proceeds, reduced to 2.0% for certain purchasers on the President’s List.
  • Use of Proceeds: Primarily to fund drilling programs at Ballywire and Stonepark; remainder for working capital and general corporate purposes.
  • Non‑Brokered Offering: Parallel non‑brokered sale of shares to existing shareholder Glencore Canada Corp. to maintain its 13.6% ownership; no commission paid on this portion.
  • Regulatory Framework: Offered under NI 45‑106 Part 5A (Listed Issuer Financing Exemption) in Canadian provinces (excluding Quebec); also offered in the U.S. under applicable exemptions. No hold period for Canadian subscribers.
  • Qualified Person: Technical information approved by Prof. Garth Earls, P.Geo., FSEG (Qualified Person per NI 43‑101).

Notable Quotes

  • “The net proceeds from this offering will enable us to advance our high‑grade drilling programs at Ballywire and Stonepark, accelerating the development of what we believe is one of the most significant mineral discoveries in Ireland in over a decade.” – Bart Jaworski, CEO

Materiality Assessment: Material – Positive (the financing provides substantial capital to advance core exploration projects).

Read the original news release →

More from Group Eleven Resources Corp.

Jul 23, 2026 · 03:01

Group Eleven’s Stonepark step-out intersects a new zinc-lead zone 550m from the existing resource, though grades remain modest compared to Ballywire.

Drill Results Jul 07, 2026 · 06:01

Group Eleven’s Ballywire step-outs reveal expanding high-grade Zn-Pb-Ag and Cu-Ag zones, confirming the deposit is growing and already well-flagged.

Drill Results Jun 11, 2026 · 06:01

Group Eleven’s Ballywire discovery returned 23.6% copper, challenging the viability of its C$222 million market capitalization following a 39% stock slide.

Drill Results May 28, 2026 · 06:01

Group Eleven’s Ballywire step-out delivers bonanza-grade Zn-Pb-Ag and 720m of deep Cu-Ag extension, unlocking multikilometer scale in Ireland’s best new zinc camp

Drill Results Apr 16, 2026 · 06:01

Strike Extension Validates Deep Copper-Silver Hypothesis

Drill Results Mar 12, 2026 · 04:34

Group Eleven closes $12-million bought deal offering

Financings