Canadian Goldfields Discovery increases financing

Executive Summary

• Canadian Goldfields Discovery Corp. increased its non‑brokered private placement from $7 M to $7.575 M.
• The offering now includes 29,375,000 common shares at C$0.20 and 7,727,273 flow‑through (FT) common shares at C$0.22, generating total gross proceeds of approximately C$7.575 M.
• Proceeds will fund the closing payment for the acquisition of the Miminiska gold property, exploration/drilling on that property, and general working capital.

Key Details

• Offering Size: Increased to C$7,575,000 (up from C$7,000,000).
• Common Shares Component: 29,375,000 shares @ C$0.20 per share → C$5,875,000 gross proceeds.
• Flow‑Through Shares Component: 7,727,273 FT shares @ C$0.22 per share → C$1,700,000 gross proceeds (approx.).
• Resale Restrictions: Both HD and FT securities subject to a four‑month resale lock‑up from issuance date.
• Finder’s Fees: Company may pay finder’s fees in accordance with TSX Venture Exchange policies.
• Use of Proceeds:
• Closing payment for acquisition of the Miminiska gold property (previously announced Dec 1, 2025).
• Exploration and drilling programs on the Miminiska property.
• General working capital.
• Closing Condition: Final acceptance by the TSX Venture Exchange remains required.

Notable Quotes

(No executive quotes were provided in the release.)