Goldgroup Mining Inc. has increased the size of its non-brokered private placement from up to approximately US$75 million to aggregate gross proceeds of up to approximately US$125 million, responding directly to investor demand.

The offering consists of units priced at US$3.65, with each unit comprising one common share and one-half of a common share purchase warrant. Each whole warrant allows the holder to acquire an additional common share at US$5.10 for 18 months from the closing date. The financing is expected to close on or about September 30, 2026, subject to regulatory approvals including the TSX Venture Exchange and NYSE American LLC.

Goldgroup acquired a 100% interest in the San Francisco Gold Project on June 15, 2026, through a Concurso Mercantil bankruptcy restructuring proceeding. The company owns and operates the Don David Gold Mine in Oaxaca and the Cerro Prieto Gold Mine in Sonora, Mexico, alongside the San Francisco Gold Project and the Back Forty Project in Michigan. Management targets the re-start of gold production at the San Francisco asset for the end of 2026 or early 2027.

Net proceeds from the expanded financing will support working capital, general corporate purposes, the advancement of existing mining and development projects, and the evaluation of M&A opportunities.

"We believe Goldgroup is at an inflection point. With a significantly strengthened balance sheet, producing assets, near-term opportunities to grow production, a substantial exploration portfolio and the ability to pursue disciplined M&A, we are increasingly positioned to execute our objective of building one of the leading intermediate precious-metals producers in the Americas."

"One of the most important advantages of this financing is that it gives Goldgroup optionality. We can invest aggressively in our highest-return organic opportunities while maintaining the financial strength to act when compelling external opportunities emerge."

— Javier Reyes, Chairman and CEO

In the wider region, Sonoro Gold reported initial drilling results from its Cerro Caliche project near the San Francisco mine in September 2026, including initial drilling results of 18.29 metres grading 3.392 g/t gold and 44.3 g/t silver in hole SCR-340. This regional activity forms part of ongoing exploration efforts across the Sonora gold district.

Read the full announcement: Goldgroup Upsizes Private Placement to US$125 Million in Response to Strong Investor Demand