Targa Exploration Corp. has launched a non-brokered private placement aiming to raise gross proceeds of up to C$3.5 million to fund mineral exploration and working capital requirements.

The financing structure includes three distinct tiers of units. Premium flow-through units are priced at C$0.22 each, standard flow-through units are offered at C$0.185 each, and hard dollar units carry a price of C$0.16 each. These pricing levels compare with the C$0.25 unit price attached to the company's financing completed in February 2026.

Each unit across the offering consists of one common share and one-half of a common share purchase warrant. Whole warrants entitle the holder to purchase an additional common share at an exercise price of C$0.30 for a 24-month period following the final closing date. The terms incorporate an acceleration clause allowing Targa to shorten the warrant 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.

Gross proceeds raised from the issuance of flow-through units will be directed toward eligible Canadian exploration expenses in Québec that qualify as flow-through mining expenditures. Targa has committed to renouncing these qualifying expenditures with an effective date of December 31, 2026, and must incur the expenses by December 31, 2027.

The company anticipates closing the offering on or about September 3, 2026, subject to customary closing conditions and regulatory approvals. All securities issued under the placement will carry a statutory hold period of four months and a day from the closing date. Finder fees may be paid to eligible finders in connection with the transaction.

Targa holds the Opinaca gold project in Québec as its principal asset, where widespread gold mineralization was discovered during a maiden drill campaign in 2025. Financing activity proceeds against a broader backdrop for precious metals, with gold trading at US$4,378.30 per ounce, marking a 7.31% increase over the 30-day period leading to mid-August 2026.

Read the full announcement: TARGA ANNOUNCES $3,500,000 NON-BROKERED PRIVATE PLACEMENT