Independence Gold raises private placement target to $6.25 million

Independence Gold Corp. (TSXV: IGO) (OTCQB: IEGCF) has increased the size of its private placement equity financing to a maximum of $6.25 million, up from the amount announced in a September 29, 2026 release.

Under the revised terms, the company plans to issue up to 39,062,500 shares, comprising a combination of flow-through common shares and units, each priced at $0.16 per share.

Each unit consists of one common share and one-half of one common share purchase warrant. Each full warrant allows the holder to purchase one additional share at $0.22 for a period of 24 months.

Proceeds from the flow-through shares will fund eligible Canadian exploration expenditures classified as flow-through mining expenditures under Canada's Income Tax Act, tied to the company's 3Ts Project in British Columbia. These expenditures will be renounced in favor of subscribers effective December 31, 2026. A portion of proceeds from the units will be allocated to general and administrative purposes.

The offering is expected to close on or before October 26, 2026, pending regulatory approvals, including that of the TSX Venture Exchange. Issued securities will carry a four-month hold period. Finders' fees may be paid to eligible arm's-length parties for certain subscriptions, subject to applicable securities laws and exchange approval.

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