1911 Gold (TSX-V:AUMB) has arranged a C$20 million ($20.23 million) bought deal financing to fund exploration and development at its True North Gold Project in Manitoba, Canada.
Haywood Securities acts as lead agent and sole bookrunner for the syndicate of underwriters purchasing the securities on a bought deal basis.
The offering comprises multiple tranches, including regular units, accelerated Canadian development expenses flow‑through units, and Canadian exploration expenses flow‑through units, each priced at varying levels.
The company will issue 7,812,500 units at C$0.64 per unit and 6,305,200 accelerated Canadian development expenses flow‑through units at C$0.79 cents per unit.
Additional Canadian exploration expenses flow‑through units are priced at C$0.86, C$1.011, and C$0.75 cents across three separate tranches.
Each unit comprises one common share and one‑half warrant, with each whole warrant exercisable to purchase one additional common share at C$1 for 24 months from the closing date.
Flow‑through units have the same structure but qualify for different tax treatment under Canadian rules.
The underwriters hold a 15% over‑allotment option exercisable for 30 days following closing. Securities will be offered via short form prospectus across Canadian provinces except Québec, with potential private placements in the US and other jurisdictions.
1911 Gold intends to use net proceeds for continuing exploration and development at True North, technical studies, and working capital.
The offering is scheduled to close on or about 14 July 2026, subject to regulatory approvals, including TSX-V and securities authorities.
Write to JC Villarba at Mining.com.au
Images: 1911 Gold
