Newcore Gold Ltd. (TSXV: NCAU | OTCQX: NCAUF) has received total proceeds of approximately $10.3M following the exercise of 20,548,000 share purchase warrants that expired on 27 February 2026. The warrants, issued in February 2025 after a private placement financing, were exercisable at $0.50 per share.
The company said the additional capital strengthens its balance sheet as it advances the Enchi Gold Project in Ghana toward completion of a Pre‑Feasibility Study, targeted for the end of June 2026. Newcore is also progressing a 45,000m drill programme focused on expanding mineralisation to depth and evaluating the broader district‑scale potential at Enchi.
Luke Alexander, president and CEO of Newcore Gold, commented, “We would like to thank our shareholders for their continued support and confidence in the Company, demonstrated through the exercise of the Warrants. Management and the Board of Directors remain strongly aligned with shareholders, collectively holding approximately 13% equity ownership. The proceeds from the Warrant exercises, together with our existing cash‑on‑hand, position Newcore to continue advancing and de‑risking our Enchi Gold Project toward completion of a Pre‑Feasibility Study by the end of June 2026. With the additional capital from the Warrants, we will evaluate opportunities to expand the scope of our drill program and carry out additional technical work to continue to advance and de‑risk the technical merits of the Project.”
Following the warrant exercises and expiry, Newcore’s share capital now consists of 284,385,640 common shares issued, along with 9,000,000 stock options and 6,742,665 RSUs and PSUs.
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