Zodiac Gold Raises $6.1 Million to Advance Liberian Exploration

Zodiac Gold Inc ( (TSE:ZAU) ) has shared an update.

Zodiac Gold Inc. has closed an upsized listed issuer financing exemption offering for gross proceeds of $6.1 million, issuing 30.5 million units at $0.20 per unit, each consisting of one common share and a half warrant with an exercise price of $0.30. The company plans to use the net proceeds to accelerate exploration and drilling across its portfolio of Liberian gold assets, reinforcing its strategy to advance what it describes as one of West Africa’s more compelling emerging gold districts, while a syndicate of dealers received cash finder’s fees and compensation warrants as part of the financing structure.

More about Zodiac Gold Inc

Zodiac Gold Inc. is a West African gold exploration company listed on the TSX Venture Exchange and focused on its flagship Todi Gold Project in Liberia, a politically stable, mining-friendly jurisdiction hosting several large-scale gold and iron ore deposits. Positioned along the Todi Shear Zone, the company is pursuing a district-scale gold opportunity with additional iron ore potential across a 2,316 km² land package that has already returned high-grade gold intercepts from initial drilling on some of its five drill-ready targets.

Average Trading Volume: 98,906

Technical Sentiment Signal: Buy

Current Market Cap: C$22.95M

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