Fredonia Mining Inc. has entered into an agreement with ATB Cormark Capital Markets to act as lead underwriter and sole bookrunner for a bought deal private placement aiming to raise gross proceeds of approximately C$10 million.

The financing involves the issuance of 15,384,700 common shares at a price of C$0.65 per share. Underwriters have also been granted an option, exercisable prior to the closing date, to increase the size of the offering to raise additional gross proceeds of up to C$1,500,005. The transaction is scheduled to close on or about September 23, 2026. Completion remains subject to customary closing conditions, including the final negotiation of an underwriting agreement and receipt of all necessary regulatory approvals, such as clearance from the TSX Venture Exchange.

Net proceeds from the placement will be directed toward the exploration and advancement of the company’s flagship El Dorado Monserrat project in Argentina’s Santa Cruz province, as well as for general corporate and working capital purposes.

The financing supports ongoing operational activity at the project, where Fredonia holds a land position spanning approximately 33,500 hectares following the acquisition of contiguous mineral properties from a subsidiary of Pan American Silver in the Deseado Massif region. Field teams are actively executing a 10,000-metre diamond drilling program across the property designed to refine the resource model and build geological confidence.

The current funding follows the delivery of a preliminary economic assessment on August 31, 2026, which evaluated development scenarios for the site and modelled an average life-of-mine production profile of approximately 146,000 ounces of gold equivalent per year.

Read the full announcement: FREDONIA ANNOUNCES C$10 MILLION BOUGHT DEAL PRIVATE PLACEMENT