Precore Gold Corp. has completed its fully allocated and oversubscribed non-brokered private placement, raising gross proceeds of C$6 million to fund upcoming exploration at its assets.

The financing delivered 30,000,000 units priced at C$0.20 per unit. Each unit consists of one common share and one-half of a common share purchase warrant, with whole warrants exercisable at C$0.28 until September 3, 2028. The offering includes an acceleration clause allowing the company to shorten the warrant expiry if shares trade above a C$0.70 volume-weighted average price over 30 days.

Precore Gold acquired the option to secure up to a 100% interest in the Arikepay gold-copper project in Arequipa, Peru, through a definitive option agreement signed in April 2025.

“The response to this financing has been exceptional and, in our view, speaks directly to the growing recognition of the discovery potential of our asset portfolio, especially our flagship, the Arikepay Project in Peru. Demand was overwhelming; however, we made a deliberate decision not to upsize the Offering at these levels and unnecessarily dilute our existing shareholders.” — Paul A. Dumas, Executive Chairman

Argonaut Securities Pty Limited and its clients participated as cornerstone investors, taking up C$4 million of the placement. The company paid cash fees and issued finder warrants and advisory options as part of the transaction terms. All securities issued under the placement are subject to a statutory hold period in Canada until January 4, 2027.

“Argonaut is delighted to be cornerstoning the Offering and accepting the advisory engagement. An in-house technical review by our geologist indicates the Arikepay Project has the potential to host a significant gold resource.” — Rob Telford, Director of Equity Capital Markets

Precore Gold will use the proceeds to support working capital and launch preliminary and complementary exploration programs at the Arikepay Project in the coming weeks, which will include a systematic drill-out of historical gold intercepts. Nearby activity in the Arequipa mining district includes environmental approval for a 36,010-metre drill program at King Copper Discovery Corp.'s Colquemayo project.

Read the full announcement: Precore Gold Closes Oversubscribed C$6 Million Private Placement