Newcore Gold Ltd. (TSXV: NCAU | OTCQX: NCAUF) has launched a $10M bought deal financing to support continued exploration and development at its Enchi Gold Project in Ghana.
Under the agreement, Haywood Securities Inc., on behalf of a syndicate of underwriters, has committed to purchase 18,870,000 common shares at $0.53 per share, for gross proceeds of approximately $10.0M. The company has also granted the underwriters an option to increase the offering size by up to 2,830,500 additional shares, which could bring total proceeds to approximately $11.5M.
Newcore intends to use the net proceeds to fund ongoing exploration and development activities at Enchi, along with general working capital requirements. The financing is expected to close on or around 28 May 2026, subject to regulatory approvals and customary closing conditions.
The offering is being completed under the listed issuer financing exemption, with shares issued not subject to a hold period under applicable Canadian securities laws.
Newcore continues to advance Enchi through an active drill programme and technical studies, positioning the project for further growth as it progresses toward development milestones.
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