Great Pacific Gold Upsizes Offering to $20 Million

Edgen Stock·Mar 26 2026, 14:54

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Key Takeaways

Great Pacific Gold is expanding a public offering to raise up to $20 million to advance its gold-copper projects in Papua New Guinea. The deal, led by Haywood Securities Inc., introduces new shares and warrants, which will dilute existing shareholders but provide crucial growth capital.

Upsized Offering: The company plans to sell up to 42.6 million units to raise gross proceeds of $20.02 million.
Pricing and Terms: Each unit is priced at $0.47 and includes one common share and one-half of a purchase warrant, with each full warrant exercisable at $0.70 for 24 months.
Capital Allocation: Net proceeds are designated for advancing gold-copper projects in Papua New Guinea and for general corporate purposes.

GPAC Increases Offering to $20M at $0.47 Per Unit

Great Pacific Gold Corp. (TSXV: GPAC) announced on March 26, 2026, that it has increased the size of its public offering to raise up to $20,022,000. Through an amended agreement with a syndicate of agents led by Haywood Securities Inc., the company will now offer up to 42,600,000 units at a price of $0.47 per unit. This move is designed to inject significant capital into the company's operations, with the offering expected to close on or about April 2, 2026, pending approval from the TSX Venture Exchange.

Warrants Introduce Future Dilution at $0.70 Strike Price

Each unit in the offering consists of one common share and one-half of a common share purchase warrant. Each whole warrant entitles the holder to acquire an additional common share at an exercise price of $0.70 for a period of 24 months following the deal's closing. While the immediate offering dilutes existing ownership, the warrants create a further potential overhang of shares. If the company's stock price trades above $0.70, the exercise of these warrants would provide additional funding but also increase the total number of shares outstanding.

Proceeds Earmarked for Papua New Guinea Projects

The company stated that the net proceeds from the financing will be used to advance its portfolio of gold-copper exploration projects in Papua New Guinea. This capital injection is critical for funding exploration and development activities as Great Pacific Gold aims to become a leading developer in the region. The balance of the funds will be allocated to general working capital and corporate purposes.