en.Wedoany.com Reported - On June 1, 2026, Canadian gold exploration company Kapa Gold (TSXV: KAPA) announced that, due to strong investor demand, it has increased its non-brokered private placement from the previously announced plan to C$3 million (approximately US$3.02 million). The proceeds from this financing will be used for the subsequent drilling program at its wholly-owned Blackhawk Gold Project in California, USA, and for general working capital.
According to the company's latest placement terms, Kapa Gold will issue 20 million units at a price of C$0.15 per unit, with each unit consisting of one common share and one transferable share purchase warrant. Each warrant entitles the holder to purchase an additional common share of the company at a price of C$0.25 for a period of 24 months following the closing. Additionally, if the company's common shares close at or above C$0.30 for 20 consecutive trading days on the TSX Venture Exchange, the company has the right to accelerate the expiry date of the warrants to 30 days following the announcement of such acceleration. The private placement is subject to the approval of the TSX Venture Exchange and is expected to close no later than June 28, 2026. The securities issued will be subject to a statutory hold period of four months and one day.
The Blackhawk Gold Project is located in Lucerne Valley, California, USA, within the historic Blackhawk mining district. This district was once renowned for gold and silver production and has a long history of precious metal mining. Kapa Gold holds a 100% interest in the project and has identified multiple high-potential exploration targets within the claim area. Historically, the Blackhawk Gold mine was a high-grade underground producer. Kapa Gold's exploration plan includes two directions: first, conducting a systematic survey of the project area to investigate widespread mineralization and identify the source of mineralizing events; second, re-entering underground workings to verify historical mineralization. Details of the drilling program funded by this financing are expected to be announced in a subsequent press release.
Kapa Gold is a gold exploration company headquartered in Vancouver, British Columbia, Canada, and was incorporated on January 29, 2018. The company focuses on advancing its portfolio of high-potential gold projects in North America, with the Blackhawk Gold Project being its flagship asset.
This article is compiled by Wedoany. All AI citations must indicate the source as "Wedoany". If there is any infringement or other issues, please notify us promptly, and we will modify or delete it accordingly. Email: news@wedoany.com
