newsfilter
← Latest News
ACCESS Newswire·

Eldorado Gold Closes $2.4 Million Strategic Investment in Gemdale Gold

EGO
  • Gemdale Gold Inc. closed a strategic investment by Eldorado Gold Corporation via a non-brokered private placement on February 13, 2026.
  • The Offering involved issuing 2,000,000 units at C$1.20 per unit, generating C$2,400,000 in gross proceeds with no finder's fees paid.
  • Each unit includes one common share & one-half of one common share purchase warrant exercisable at C$1.50 per share for 24 months.
  • Proceeds will fund exploration of Gemdale Gold's Finnish properties & general corporate purposes.
  • An investor rights agreement grants Eldorado participation rights in future financings, right of first refusal on project dispositions, & a technical committee representative seat.
  • The transaction is subject to regulatory approvals including TSX Venture Exchange consent & carries a four-month & one-day statutory hold period.
  • Eldorado beneficially owns 2,000,000 shares & 100,000,000 warrants, representing ~9.5% of outstanding shares non-diluted & ~13.6% on a partially diluted basis.
  • Eldorado confirmed the investment is for investment purposes with no current plans to trigger early warning disclosure clauses.
  • Gemdale Gold's flagship asset is the Pontio Gold Project in Western Finland, featuring ~4 km of strike length with near-surface gold mineralization identified via over 10,000 meters of drilling.
  • The company holds additional projects including Isoneva (under an option agreement with Nordique Resources), Lapland Projects, Kumiseva, & Savo/Rantasalmi exploration licenses.
  • Dr. Toby Strauss serves as the Qualified Person verifying the technical data & accuracy of the news release.