Goldgroup upsizes private placement to $125M from $75M

Goldgroup Mining Inc. (TSXV: GORO) (NYSE American: GORO) has increased the size of its non-brokered private placement to up to $125 million in aggregate gross proceeds, up from the previously announced $75 million, according to a company statement dated September 14, 2026.

Each unit offered consists of one common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder to acquire one common share at $5.10 per share for a period of 18 months from the closing date. The offering is expected to close on or about September 30, 2026, subject to regulatory approvals from the TSX Venture Exchange and NYSE American.

The company operates the Don David Gold Mine in Oaxaca and the Cerro Prieto Gold Mine in Sonora, Mexico. It is also advancing the San Francisco Gold Project in Sonora toward a potential production restart and the Back Forty Project in Michigan toward development.

Net proceeds are intended for working capital and general corporate purposes, including advancing existing mining and development projects and evaluating potential acquisitions and other mergers and acquisitions activity in the mining sector.

The company may pay eligible finders a cash commission equal to 5% of gross proceeds raised from subscribers they introduce. Certain company insiders may also participate in the offering, which would constitute a related-party transaction under Multilateral Instrument 61-101, though the company expects applicable exemptions to apply.

Securities issued under the offering will be subject to a statutory hold period ending four months and one day after the closing date under Canadian securities laws. The securities have not been registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States absent applicable registration or exemption.

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