Pirate Gold to Raise CA$15 Million Via Brokered Flow-Through Private Placement

10:15 AM EDT, 10/01/2026 (MT Newswires) -- Pirate Gold (YARR.V) entered into an engagement letter with Canaccord Genuity in connection with a "best efforts" private placement to raise proceeds of about CA$15 million, it said in a statement on Thursday. The offering will consist of the issuance of flow-through common shares (FT shares) at CA$0.215 per FT share, and special flow-through common shares (special FT shares) at CA$0.2475 per special FT share, in any combination, it said. The company has also granted the agents an option to sell up to CA$2.3 million of additional offered securities on the same terms and conditions. The company expects the proposed offering to provide additional flow-through funding for eligible exploration expenditures on the Treasure Island project located in Newfoundland, with the objective of maintaining an active drilling program into spring 2027 while preserving Pirate Gold's treasury of about CA$8 million. Shares of the company were last seen unchanged at CA$0.19 on the TSX Venture Exchange.