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VANCOUVER, British Columbia, Sept. 03, 2026 (GLOBE NEWSWIRE) — Precore Gold Corp. (CSE: PRCG) (the “Company” or “Precore Gold“) is pleased to announce the closing of its fully allocated and oversubscribed non-brokered private placement (the “Offering“) for an aggregate of 30,000,000 units (“Units“) of the Company at a price of C$0.20 per Unit for gross proceeds of C$6,000,000. See news release of Precore Gold dated August 20, 2026 and entitled “Precore Gold Announces Up to C$6 Million Private Placement“.
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Paul A. Dumas, Executive Chairman of Precore Gold, commented:
“The response to this financing has been exceptional and, in our view, speaks directly to the growing recognition of the discovery potential of our asset portfolio, especially our flagship, the Arikepay Project in Peru. Demand was overwhelming; however, we made a deliberate decision not to upsize the Offering at these levels and unnecessarily dilute our existing shareholders. That decision has become even more meaningful given that Precore Gold’s share price has gained significant value since the announcement. We would like to thank the team at Argonaut for their vision and belief in our management and the potential of the assets and we look forward to their collaboration going forward. We are particularly pleased with the caliber of investors participating in this first significant capital raise, which includes well-known, high-performing, visionary funds and institutional investors from outside the Americas. Their participation significantly broadens our shareholder base and introduces Precore Gold to sophisticated resource investors globally. With a strengthened treasury and a significantly expanded institutional shareholder interest, Precore Gold is entering an important new phase. We are confident that as systematic modern exploration gets underway and we begin to demonstrate the broader potential of our assets, Precore Gold has the opportunity to undergo a meaningful rerating. We look forward to commencing our preliminary and complementary exploration programs in the coming weeks.”
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Rob Telford, Director of Equity Capital Markets at Argonaut, commented:
“Argonaut is delighted to be cornerstoning the Offering and accepting the advisory engagement. An in-house technical review by our geologist indicates the Arikepay Project has the potential to host a significant gold resource. We rarely see intercepts of 81m @ ~3g/t gold. We are excited to see a systematic drill-out of historical gold intercepts which were never followed up given the focus on copper at the time.”
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Each Unit consists of one common share of the Company (each, a “Common Share“) and one-half of one common share purchase warrant of the Company (each whole common share purchase warrant, a “Warrant“). Each Warrant entitles the holder to acquire one additional Common Share at an exercise price of C$0.28 until September 3, 2028. The Warrants contain an acceleration clause whereby the Company may accelerate the expiry of the Warrants to a date that is 30 days following the date upon which the Common Shares trade at a 30-day volume-weighted average trading price exceeding C$0.70 per Common Share. The Warrants are governed by the terms of a warrant indenture dated September 3, 2026 between the Company and Endeavor Trust Corporation, as warrant agent.