Targa Exploration Corp. has completed the fourth and final tranche of its non-brokered private placement, raising gross proceeds of approximately C$178,590 through the issuance of hard-dollar and flow-through units.

The closing brings total aggregate gross proceeds from the multi-tranche offering to C$3,191,935. Under the final tranche, the company issued 190,750 hard-dollar units at C$0.16 each and 800,378 flow-through units at C$0.185 each. Across the entire offering, Targa issued a combination of standard flow-through units, hard-dollar units, and 3,605,000 premium flow-through units.

The net proceeds are designated to fund ongoing mineral exploration projects and support working capital requirements. Funds raised from the sale of flow-through units are legally bound to cover eligible Canadian exploration expenses in Québec. Targa must renounce these qualifying expenditures to subscribers on or before December 31, 2026, and incur the expenses before the end of December 2027.

Each unit issued in the financing consists of one common share and one-half of a common share purchase warrant. Every whole warrant allows the holder to acquire an additional common share at an exercise price of C$0.30 for 24 months following the respective closing date. The warrants include an acceleration clause permitting Targa to shorten the expiry window to 30 days if the 10-day volume-weighted average trading price of the common shares on the Canadian Securities Exchange reaches or exceeds C$0.60.

In connection with the placement, Targa paid finders fees totalling C$138,186 in cash and issued 777,394 finders warrants exercisable at C$0.30 for 24 months. Insiders participated by subscribing for 686,358 units for gross proceeds of C$113,070, constituting a related-party transaction that was exempt from formal valuation and minority approval requirements. All securities issued under the final tranche are subject to a four-month and one-day statutory hold period.

The financing supports Targa’s broader exploration portfolio, anchored by its flagship Opinaca gold project in Québec, where widespread gold mineralization was discovered during a maiden drill campaign in 2025. The company also holds options to earn up to 80% equity interests in the Venidero and El Zanjon gold-silver projects located in Santa Cruz, Argentina. In March 2026, Targa appointed Bryce Roxburgh to its Board of Directors, drawing on his prior experience leading the team that made the Cerro Moro discovery in the same Argentine region.

Read the full announcement: TARGA CLOSES FINAL TRANCHE OF NON-BROKERED PRIVATE PLACEMENT FOR AGGREGATE GROSS PROCEEDS OF C$3,191,935