Gold Candle Ltd. has announced a significant financial achievement, having successfully completed the final tranche of a private placement on September 9, 2025, which resulted in total gross proceeds of $87.3 million. The private placement involved the issuance of 27.3 million common shares, comprising 12.8 million ordinary shares and 2.9 million flow-through shares priced at $2.75 each, alongside 11.6 million charity flow-through shares priced at $3.80 each. Following this transaction, Gold Candle’s total outstanding common shares have reached 201 million.
This capital raise has garnered robust support from existing shareholders, including the company’s Board, management, and Trinity Capital Partners, as well as from select new institutional investors. CEO Rick Howes expressed his excitement regarding the financing’s success, emphasizing its importance in advancing and de-risking the Kerr-Addison Project. He extended his gratitude to all participants, assuring them that the company is committed to earning their continued trust as they progress through this crucial phase.
The proceeds from this private placement will primarily fund an aggressive exploration program, as well as the completion of technical, engineering, and economic studies. In addition, the funds will support baseline permitting work on Gold Candle’s fully owned Kerr-Addison Project and cover general corporate expenses. This financial boost positions Gold Candle favorably as it gears up for a targeted initial public offering in 2026.
Gold Candle is recognized as a privately funded Canadian exploration company helmed by a diverse and experienced team of mining experts. The company made headlines in 2015 when it acquired claims over the historic Kerr-Addison Gold Mine and its surrounding area in McGarry Township, located within the Timiskaming District of Ontario. The company is dedicated to responsible mineral exploration that benefits local communities, employees, and shareholders, while also prioritizing environmental considerations.
Investors and stakeholders are advised that this announcement includes forward-looking information, characterized by terms such as “plans,” “expects,” and “intends.” Despite being considered reasonable, these projections are subject to significant risks and uncertainties that could lead to actual outcomes differing materially from those anticipated. Readers are encouraged to view this information within the context of historical and potential future developments and to refrain from placing undue reliance on such forward-looking statements. Gold Candle disclaims any intention to update or revise these projections unless mandated by law, reflecting the dynamics of the markets and company developments.
