Zodiac Gold Terminates Exclusivity Agreement with Mable and Fable Limited to Pursue Multiple Strategic Opportunities and Announces Up To C$500,000 Shareholder-Led Private Placement

Zodiac Gold Terminates Exclusivity Agreement with Mable and Fable Limited to Pursue Multiple Strategic Opportunities and Announces Up To C$500,000 Shareholder-Led Private Placement

Zodiac Gold Inc. (TSXV: ZAU) ("Zodiac Gold" or the "Company"), a West-African gold exploration company, announces that it has terminated the exclusivity agreement previously entered into with Mable and Fable Limited ("MFL") on September 26, 2024, due to MFL's failure to satisfy their funding obligations under the agreement.

By terminating the exclusivity agreement, the Company is now free to pursue multiple strategic opportunities (including partnerships, joint ventures and financings) that have emerged since the announcement of its recent iron ore discovery. Following that announcement, Zodiac Gold has received substantial interest from multiple parties regarding these high-potential assets. The Company intends to evaluate these opportunities with a view towards identifying how to best leverage its iron ore assets in one or more transactions that will maximize shareholder value. In parallel, Zodiac Gold intends to continue to build on the exploration success of its recently completed Alasala and Arthington drilling programs at its Todi Project.

David Kol, President & CEO of Zodiac Gold, commented: "The decision to terminate the agreement was not taken lightly, but it is imperative that we remain agile and open to evaluating all potential opportunities. The newly discovered iron ore potential of our properties combined with the very encouraging results of our recent drilling campaigns at multiple gold deposit targets provide Zodiac Gold with multiple avenues to build significant value for our shareholders. The level of interest in our assets underscores their quality and strategic importance, and we are committed to ensuring that the next steps we take are aligned with long-term growth."

Given the termination of the MFL exclusivity agreement, the Company will not have access to the funding that MFL had originally agreed to provide in exchange for the exclusivity arrangements. As a result, in addition to pursuing the various inquiries it has received from third parties regarding potential strategic transactions, Zodiac Gold is pleased to announce that it intends to complete an offering of units of the Company (the "Units"), on a non-brokered private placement basis, for aggregate proceeds of up to C$500,000 (the "Offering"). The Offering is being led by existing shareholders.

Offering Terms

Pursuant to the Offering, the Company intends to issue up to 5,000,000 Units at a price of C$0.10 per Unit (the "Issue Price"). Each Unit will consist of one common share of the Company (a "Common Share") and one Common Share purchase warrant (a "Warrant"). Each Warrant will entitle the holder to purchase one Common Share (a "Warrant Share") at an exercise price of C$0.15 per Warrant Share for a period of 24 months following the closing of the Offering.

The Company intends to use the proceeds from the Offering to fund continued exploration at its flagship Todi Gold Project, Bomi South, and Bong West licences in the Republic of Liberia, West Africa and for working capital purposes.‎

Closing of the Offering is anticipated to occur in late November or early December and may occur in tranches. Closing is subject to the receipt of all necessary approvals from the TSXV.

Finders

Subject to the approval of the TSX Venture Exchange (the "TSXV"), the Company may pay finders' fees to certain eligible finders of up to 7% in cash of the gross proceeds raised in the Offering from subscribers introduced to the Company by such finders and up to 7% in finders warrants (the "Finder Warrants") of the aggregate number of Units placed by such finders. Each Finder Warrant will entitle the holder thereof to purchase one Common Share at the Issue Price and will be exercisable for a period of 24 months from the closing of the Offering.

Hold Period

The securities issued pursuant to the Offering shall be subject to a four-month plus one day hold period commencing on the day of the closing of the Offering under applicable Canadian securities laws.

Insider Participation

Certain directors of the Company are expected to acquire Units under the Offering. Such participation will be considered to be a "related party transaction" as defined under the policies of the TSXV and Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company anticipates relying on exemptions from the minority shareholder approval and formal valuation requirements applicable to the related-party transactions under sections 5.5(a) and 5.7(1)(a), respectively, of MI 61-101, as neither the fair market value of the Units to be acquired by the participating directors nor the consideration to be paid by such directors is anticipated to exceed 25 percent of the Company's market capitalization.

About Zodiac Gold

Zodiac Gold Inc. (TSXV: ZAU) is a West-African gold exploration company focused on its flagship Todi Project situated in Liberia-an underexplored, politically stable, mining friendly jurisdiction hosting several large-scale gold deposits. Strategically positioned along the fertile Todi Shear Zone, Zodiac Gold is developing a district-scale gold opportunity covering a vast 2,316 km2 land package. The Todi project has undergone de-risking, showcasing proven gold occurrences at both surface and depth, with five drill-ready targets and high-grade gold intercepts

For further information, please visit the Zodiac Gold website at www.zodiac-gold.com or contact:

David Kol
President & CEO
info@zodiac-gold.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Information

This news release includes certain "forward-looking statements" within the meaning of Canadian securities legislation.

Forward-looking statements include predictions, projections, and forecasts and are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "forecast", "expect", "potential", "project", "target", "schedule", "budget" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions and includes the negatives thereof. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the Company's planned exploration programs and drill programs and potential significance of results are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are based on a number of material factors and assumptions. Important factors that could cause actual results to differ materially from Company's expectations include actual exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital, and financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, defects in title, availability of personnel, materials, and equipment on a timely basis, accidents or equipment breakdowns, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the Company with securities regulators. Although the Company has attempted to identify important factors that could cause actual actions, events, or results to differ from those described in forward-looking statements, there may be other factors that cause such actions, events, or results to differ materially from those anticipated. There can be no assurance that forward-looking statements will prove to be accurate, and accordingly readers are cautioned not to place undue reliance on forward-looking statements.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/230648

News Provided by Newsfile via QuoteMedia

ZAU:CC
The Conversation (0)
Zodiac Gold Announces New $1M Financing, and Amends Previously Announced Debt Settlement

Zodiac Gold Announces New $1M Financing, and Amends Previously Announced Debt Settlement

Zodiac Gold Inc. (TSXV: ZAU) ("Zodiac Gold" or the "Company"), a West-African gold exploration company, announces further to the Company's news releases dated November 20, 2024, and January 3, 2025, it has closed its private placement for gross proceeds of approximately C$123,000 with no further tranches closed. The Company will commence a new offering of units for C$0.07 per unit for aggregate gross proceeds of up to C$1,000,000 (the "New Financing").

In connection with the end of the previous financing and the commencement of the New Financing, the Company also intends to amend the exercise price of the 1,230,000 share purchase warrants issued pursuant to the previous financing from C$0.15 per share to C$0.12 per share. The proposed amendment is subject to the receipt of all necessary approvals from the TSX Venture Exchange ("TSXV").

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Zodiac Gold Inc. Announces High-Grade Channel Sample Results at the Todi Gold Project in Liberia

Zodiac Gold Inc. Announces High-Grade Channel Sample Results at the Todi Gold Project in Liberia

Zodiac Gold Inc. (TSXV: ZAU) ("Zodiac Gold" or the "Company"), a West-African gold exploration company, is pleased to announce channel sample results of 17m at 1.09 gt Au and 1.17m at 18.79 gt Au from the Alasala and Alasala South targets respectively. The targets are 3km apart (Figure 1) and are included in the Company's extensive pipeline of targets within its Mineral Exploration Licenses covering over 2,300km2.

The Company concluded a drilling program consisting of 8 holes at the Alasala target in October 2024 and reported results including 4.05m at 13.92 g/t (including 1.6m at 34.5 g/t Au), 7m at 2.23 g/t Au (including 1m at 12.65 g/t Au) and 4.25m at 0.99 g/t Au (including 0.7m at 5.25 g/t Au). Channel samples taken in the Lion Hill artisanal pit during the drilling program returned 6.05m at 9.06 g/t Au, including 1m at 46 g/t Au, reinforcing the high-grade potential of the Alasala target (press release dated October 28, 2024).

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Zodiac Gold Announces Closing of First Tranche of Non-Brokered Private Placement

Zodiac Gold Announces Closing of First Tranche of Non-Brokered Private Placement

Zodiac Gold Inc. (TSXV: ZAU) ("Zodiac Gold" or the "Company"), a West-African gold exploration company, is pleased to announce that, further to the Company's news release dated November 20, 2024, it has closed its first tranche of its previously announced private placement (the "Offering") for gross proceeds of approximately C$123,000 (the "First Tranche"). The net proceeds of the First Tranche will be used for exploration of the Company's Todi gold project and for working capital purposes.

Pursuant to the First Tranche closing of the Offering, the Company issued 1,230,000 units of the Company (each a "Unit") at a price of C$0.10 per Unit. Each Unit consists of one common share of the Company (each, a "Common Share") and one common share purchase warrant (a "Warrant"). Each Warrant will entitle the holder thereof to acquire one additional Common Share (a "Warrant Share") at a price of C$0.15 per Warrant Share until the date which is 24 months following the closing date of the First Tranche of the Offering.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Zodiac Gold Enters into Market-Making Services Agreement

Zodiac Gold Enters into Market-Making Services Agreement

Zodiac Gold Inc. (TSXV: ZAU) ("Zodiac Gold" or the "Company"), a West-African gold exploration company, ") is pleased to announce it has entered into a Market-Making Services Agreement (the "Agreement") with Velocity Trade Capital Ltd. ("Velocity Trade") on September 3, 2024, to provide market-making services in accordance with TSX Venture Exchange ("TSXV") policies and applicable laws. Velocity Trade will trade common shares in the capital of the Company (the "Common Shares") of the Company on the TSXV with the objective of maintaining a reasonable market and improving the liquidity of the Company's Common Shares.

Under the Agreement, Velocity Trade will receive compensation of CDN$6,500 per month, payable monthly in advance. The Agreement is for an initial term of two (2) months and automatically renews for one (1) month periods ("Additional Term") unless either party provides written notice of termination to the other party thirty (30) days prior to the end of the Additional Term. There are no performance obligations contained in the Agreement, and Velocity Trade will not receive Common Shares, stock options, or any other form of equity in the Company as compensation. Velocity Trade and the Company are arms-length parties, and Velocity Trade and its principals do not currently own or have any interest, directly or indirectly, in the securities of the Company, however, Velocity Trade and its clients may acquire an interest in the securities of the Company in the future.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Zodiac Gold Completes Drill Program at the Alasala Target and Hits Mineralized Zones including 4.05m at 13.92 g/t

Zodiac Gold Completes Drill Program at the Alasala Target and Hits Mineralized Zones including 4.05m at 13.92 g/t

Zodiac Gold Inc. (TSXV: ZAU) ("Zodiac Gold" or the "Company"), a West-African gold exploration company, is pleased to report the results from its diamond drilling program at the Alasala target, including 4.05m at 13.92 gt (including 1.6m at 34.5 gt Au), 7m at 2.23 gt Au (including 1m at 12.65 gt Au) and 4.25m at 0.99 gt Au (including 0.7m at 5.25 gt Au). In addition, channel sampling in the Lion Hill artisanal mining pit during this drill program by Zodiac Gold's geological team returned 6.05m at 9.06 gt Au (including 1m at 46 gt Au and 1m at 7.6 gt Au). The results of drilling confirm that the high grades reported from surface exploration and previous drilling in the oxide zone have strong continuity at depth, with 4.05m at 13.92 gt Au intersected 75m below surface. These zones are believed to be open at depth.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Freegold Ventures Limited - Results of the Annual General and Special Meeting

Freegold Ventures Limited - Results of the Annual General and Special Meeting

Freegold Ventures Limited (TSX: FVL) (OTCQX: FGOVF) ("Freegold" or the "Company ") is pleased to announce that all matters set out in the Management Information Circular dated May 26 2025 for the 2025 Annual General and Special Meeting of Shareholders held on June 27, 2025 (the "Meeting") were approved by the shareholders holding 98,154,137 shares were voted representing approximately ~ 18.56% of the outstanding shares of the Company.

Freegold Logo (CNW Group/Freegold Ventures Limited)

The following nine nominees were elected as directors of Freegold. The detailed results of the vote for the election of directors are set out below:

MOTIONS

NUMBER OF SHARES

PERCENTAGE OF VOTES CAST

FOR

AGAINST

WITHHELD/
ABSTAIN

FOR

AGAINST

WITHHELD/
ABSTAIN

To elect as Director :Kristina Walcott

96,353,303


1,800,834

98.165 %


1.835 %

To Elect as Director: Alvin Jackson

97,016,593


1,137,544

98.841 %


1.159 %

To Elect as Director: David Knight

85,790,018


12,364,119

87.403 %


12.597 %

To Elect as Director: Garnet Dawson

97,308,977


845,160

99.139 %


0.861 %

To Elect as Director: Ron Ewing

96,839,477


1,314,660

98.661 %


1.339 %

To Elect as Director: Glen Dickson

85,396,927


12,757,210

87.003 %


12.997 %

To Elect as Director: Reagan Glazier

79,513,338


18,640,799

81.009 %


18.991 %

To Elect as Director: Maurice Tagami

97,900,807


253,330

99.742 %


0.258 %

To Elect as Director: Vivienne Artz

93,614,569


4,539,568

95.375 %


4.625 %

The Company's shareholders approved the appointment of Davidson & Company LLP, Chartered Professional Accountants, as the Company's auditors, as set forth in the management information circular.

The Company's shareholders approved the Company's new omnibus equity incentive plan.

Each of the matters voted upon at the Meeting is discussed in detail in the Company's Information Circular dated May 26 th, 2025, which is filed under the Company's profile at www.sedarplus.com.

Golden Summit Project Update:

Drilling at Golden Summit is progressing well. Drilling is focused on resource definition, which includes both expansion and infill drilling, as well as geotechnical and metallurgical holes. Like the 2024 drill program, the current efforts aim to upgrade inferred resources to indicated status in preparation for the upcoming pre-feasibility study, which is expected to commence later this year. An updated mineral resource estimate is expected to be finalised soon, and the initial assay results from the 2025 drill program are also anticipated shortly.

The Qualified Person for this release is Alvin Jackson , P.Geo., Vice President of Exploration and Development for Freegold, who has approved the scientific and technical disclosure in this news release.

About Freegold Ventures Limited  
Freegold is a TSX-listed company focused on exploration in Alaska . It holds the Golden Summit Gold Project near Fairbanks and the Shorty Creek Copper-Gold Project near Livengood through leases.

Some statements in this news release contain forward-looking information, including, without limitation, statements as to planned expenditures and exploration programs, potential mineralization and resources, exploration results, the completion of an updated NI 43-101 technical report, and any other future plans. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the statements. Such factors include, without limitation, the completion of planned expenditures, the ability to complete exploration programs on schedule, and the success of exploration programs. See Freegold's Annual Information Form for the year ended December 31st, 2024 , filed under Freegold's profile at www.sedar.com , for a detailed discussion of the risk factors associated with Freegold's operations. On January 30, 2020 , the World Health Organization declared the COVID-19 outbreak a global health emergency. Reactions to the spread of COVID-19 continue to lead to, among other things, significant restrictions on travel, business closures, quarantines, and a general reduction in economic activity. While these effects have been reduced in recent months, the continuation and re-introduction of significant restrictions, business disruptions, and related financial impact, and the duration of any such disruptions cannot be reasonably estimated. The risks to Freegold of such public health crises also include employee health and safety risks and a slowdown or temporary suspension of operations in geographic locations impacted by an outbreak. Such public health crises, as well as global geopolitical crises, can result in volatility and disruptions in the supply and demand for various products and services, global supply chains, and financial markets, as well as declining trade and market sentiment and reduced mobility of people, all of which could affect interest rates, credit ratings, credit risk, and inflation. As a result of the COVID-19 outbreak, Freegold has implemented a COVID management program and established a full-service Camp at Golden Summit to attempt to mitigate risks to its employees, contractors, and community. While the extent to which COVID-19 may impact Freegold is uncertain, it is possible that COVID-19 may have a material adverse effect   on Freegold's business, results of operations, and financial condition.

SOURCE Freegold Ventures Limited

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/June2025/27/c9322.html

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Rio Silver to Complete 5:1 Consolidation

Rio Silver to Complete 5:1 Consolidation

Rio Silver Inc. (the "Company" or "Rio Silver") (TSX.V: RYO) (OTC: RYOOF) announces that, further to the announcement on May 1, 2025, it will consolidate (the "Consolidation") its common shares on the basis of five pre-Consolidation common shares for one post-Consolidation share.

The Company expects that the TSX Venture Exchange (the "Exchange") will issue a bulletin in short order, confirming that the Company's common shares will then commence trading on a post-Consolidation basis effective on or about the opening of trading on Thursday, July 3, 2025. There will be no change to the Company's name or trading symbol. The new CUSIP and ISIN numbers for the post-Consolidation shares are 76721A113 and CA76721A1131, respectively.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Element79 Gold Announces Notice of Force Majeure on Lucero Project

Element79 Gold Announces Notice of Force Majeure on Lucero Project

(TheNewswire)

Element79 Gold Corp.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Blue Lagoon Resources Added to CSE25 Index - Recognized Among 25 Largest Companies on the Canadian Securities Exchange

Blue Lagoon Resources Added to CSE25 Index - Recognized Among 25 Largest Companies on the Canadian Securities Exchange

(TheNewswire)

Blue Lagoon Resources Inc.

June 26, 2025 TheNewswire - Vancouver, British Columbia Blue Lagoon Resources Inc. (the " Company ") (CSE: BLLG; OTCQB: BLAGF; FSE: 7BL) is pleased to announce that it has been added to the CSE25 Index the Canadian Securities Exchange's benchmark index that tracks the top 25 issuers by market capitalization.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
RUA GOLD Closes C$13.8 Million Brokered Offering Including the Full Exercise of Over-Allotment Option

RUA GOLD Closes C$13.8 Million Brokered Offering Including the Full Exercise of Over-Allotment Option

Highlights 

  • Closing the oversubscribed brokered offering for $13.8 million of gross proceeds. 

  • Offering was completed without dilutive warrants and without a significant discount to market trading price. 

  • Incoming key long-term supportive 9.9% shareholder leading the private placement and serving as a cornerstone investor to the Rua Gold journey. 

  • Completion of this financing secures a treasury balance sufficient to fund 12 to 18 months of aggressive exploration across on the projects.

Rua Gold Inc. (TSXV: RUA) (OTCQB: NZAUF) (WKN: A40QYC) ("Rua Gold" or the "Company") is pleased to announce that it has closed its previously announced brokered "best efforts" public offering (the "Public Offering") and private placement (the "Private Placement" and with the Public Offering, the "Offering") consisting of 19,714,450 common shares in the capital of the Company (each, a "Common Share"), which included the exercise of the over-allotment option in full, at a price of C$0.70 per Common Share for aggregate gross proceeds of C$13,800,115.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×