The board of Galactic Gold Corp. has announced an expansion of a previously disclosed financing after receiving robust investor interest. The company increased the size of its non-brokered private placement from C$1,000,000 to total gross proceeds of C$2,150,000, at a subscription price of C$0.25 per common share. This expansion follows the company's earlier announcement referenced in the news release dated April 17, 2026. If the offering is fully subscribed, Galactic Gold will issue up to 8,600,000 common shares under the arrangement. The company refers to this financing throughout as the Private Placement, meaning a placement of securities made without a public prospectus.
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Financing structure and terms
The expanded Private Placement will be conducted on a private placement basis in Canadian provinces other than Quebec and in additional jurisdictions as the company determines, relying on applicable exemptions from prospectus requirements. The transaction is expected to close on or before April 30, 2026, or on such other date as Galactic Gold may determine (Closing). Closing remains subject to customary conditions, including the receipt of all necessary regulatory approvals. Securities issued under the Private Placement will be subject to a statutory hold period of four months and one day from Closing. Arms-length finders who introduce subscribers may be eligible for a cash fee equal to 6.0% of the gross proceeds.
Planned use of proceeds
Net proceeds from the financing are earmarked primarily for exploration activities at the Hardrock West property, with the balance allocated to working capital and general corporate purposes. The company emphasizes that the funds will support field programs, permitting work and related logistical needs as Galactic Gold advances the project. The Hardrock West allocation reflects a strategic commitment to resource definition and value creation on a property the company controls 100%, reinforcing the role of targeted capital in advancing early-stage exploration assets.
Geological and strategic context
Hardrock West sits in a prolific portion of Ontario and offers substantial exploration upside. The property covers more than 57 km of combined strike length across two major gold-bearing structures, and it lies approximately 10 km from Equinox Gold's Greenstone Mine. Galactic Gold's land package is positioned between Equinox Gold's Greenstone Mine and the Brookbank Deposit, an alignment that Laurentian University's Metal Earth research has highlighted as hosting regional super structures. That academic mapping underpins the company's view of significant prospective corridors across the property and supports the rationale for deploying the new financing to exploration activities.
Regulatory considerations and risk disclosures
The securities described are not, and will not be, registered under the United States Securities Act of 1933 or any state securities laws, and therefore they cannot be offered or sold in the United States except in compliance with those registration requirements or applicable exemptions. This press release is not an offer to sell nor a solicitation to buy securities in any jurisdiction. The transaction is subject to regulatory review and final approval, including approvals required by the TSX Venture Exchange and its Regulation Services Provider, which neither accepts responsibility for the adequacy or accuracy of this release. The company also notes that the Private Placement may not be fully subscribed and that timing or completion cannot be guaranteed.
Forward-looking statements and caution
This announcement contains forward-looking statements about future events, plans and expectations. Such statements involve risks, uncertainties and assumptions that could cause actual outcomes to differ materially, including factors such as commodity prices, market conditions for debt and equity financings, and regulatory approvals. Readers should treat forward-looking statements with caution and understand they apply only as of the date made. Galactic Gold disclaims any obligation to update these statements except as required by law. Additionally, this material is not intended for distribution to United States newswire services or for dissemination in the United States.
For reference, the full original release is available through the issuing channel at the source link provided by the company. Investors and interested parties should review the company's filings and announcements for full details and consult professional advisors before making any investment decisions.