Goldgroup Mining Raises $121.8 Million in Private Placement

04:57 PM EDT, 09/25/2026 (MT Newswires) -- Goldgroup Mining (GORO.V), which dropped 1.1% in after-hours US trading, said Friday it closed a previously announced non-brokered private placement, raising gross proceeds of about $121.8 million. The company issued about 33.4-million units at $3.65 each. Each unit consists of one common share and one-half of one common share purchase warrant. Each warrant is exercisable for one common share at $5.10 until March 25, 2028. Goldgroup said it plans to use the net proceeds for working capital and general corporate purposes, including advancing its mining and development portfolio and evaluating strategic investments and merger and acquisition opportunities in the mining sector. The company said the offering exceeded its initial $75 million target by more than 60%, strengthening its balance sheet and increasing financial flexibility. Goldgroup's shares dropped $0.04 to $3.48 in after-hours trading on the New York Stock Exchange, after closing unchanged at CA$4.97 on TSX Venture Exchange.