Targa Exploration Launches C$3 Million Private Placement to Fund Gold Projects

Targa Exploration Corp. ( (TSE:TEX) ) has issued an announcement.

Targa Exploration Corp. has launched a non-brokered private placement of up to C$3 million, offering units at C$0.25 each, with every unit comprising one common share and a warrant exercisable at C$0.50 for 24 months, subject to an acceleration clause tied to share price performance. The financing, expected to close around February 20, 2026, is intended to fund exploration across Targa’s mineral projects and for general working capital, providing additional capital to advance its gold-focused portfolio in Canada and Argentina while potentially increasing dilution but supporting its growth strategy in early-stage precious metals exploration.

Spark’s Take on TSE:TEX Stock

According to Spark, TipRanks’ AI Analyst, TSE:TEX is a Underperform.

Targa Exploration Corp.’s financial instability, demonstrated by a lack of revenue and negative cash flow, heavily impacts its stock score. Weak technical indicators and an unattractive valuation further depress the score, suggesting significant risk for potential investors.

To see Spark’s full report on TSE:TEX stock, click here.

More about Targa Exploration Corp.

Targa Exploration Corp. is a Canadian mineral exploration company focused on the acquisition, exploration and development of early-stage gold properties in premier mining jurisdictions. Headquartered in Vancouver, the company’s principal asset is the Opinaca gold project in Quebec, where wide-spread gold mineralization was identified in a 2025 maiden drill program, and it also holds options on the Venidero and El Zanjon gold-silver projects in Santa Cruz, Argentina, targeting Tier 1 grass-roots precious metals discoveries.

Average Trading Volume: 114,692

Technical Sentiment Signal: Buy

Current Market Cap: C$13.87M

Find detailed analytics on TEX stock on TipRanks’ Stock Analysis page.