Daura Gold Corp. (TSXV: DGC) (OTC: DGCOF) has closed an upsized non-brokered private placement, raising approximately C$3.04 million through the issuance of 13,218,657 units at $0.23 per unit. The offering was originally announced at up to $2.0 million before being increased to up to $3.0 million following strong investor demand. Proceeds will fund exploration drilling at the company's projects in Argentina and Peru, with Phase II drilling at Cerro Bayo and La Flora already scheduled to begin in October 2026.

Key Points

  • Daura Gold Corp. (TSXV: DGC) (OTC: DGCOF) closed its upsized non-brokered private placement on October 1, 2026
  • The company raised approximately C$3.04 million by issuing 13,218,657 units at $0.23 per unit
  • Each unit includes one common share and one-half of one warrant exercisable at $0.375 for 24 months; finders' fees totalled $114,170
  • Investors will be watching deployment of capital across Cerro Bayo, La Flora, and the Antonella-Libélulas Project

Offering Structure and Warrant Terms

Each unit issued under the offering consists of one common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder to acquire one additional common share at $0.375 for a period of twenty-four months following closing. In connection with the offering, the company paid aggregate finders' fees of $114,170 and issued 496,390 non-transferrable finders' warrants to eligible third parties who introduced subscribers. All securities issued are subject to a statutory hold period of four months and one day, and the offering remains subject to final acceptance by the TSX Venture Exchange.

Planned Use of Proceeds Across Argentina and Peru

The company intends to direct proceeds toward advancing exploration activities across its South American portfolio. In Argentina, planned drilling is scheduled at the Cerro Bayo and La Flora projects, located in the Deseado Massif, where Daura is earning up to an 80% interest from Latin Metals Inc. Phase II drilling at those sites is set to begin in October 2026. In Peru, the company will continue advancing its flagship Antonella-Libélulas Project, covering 10,600 hectares in the Ancash region, toward its first drill program. A portion of proceeds will also support general working capital.

Investor Demand Drove Upsized Raise

The offering was originally announced for gross proceeds of up to $2.0 million and was subsequently increased to up to $3.0 million following investor interest, as noted in company releases dated September 9, 2026 and September 23, 2026. The final close at approximately $3.04 million exceeded the revised target. Chairman and CEO Mark Sumner stated the company is "well funded to execute on our upcoming exploration programs across Argentina and Peru," adding that the immediate focus is returning to the field at Cerro Bayo, La Flora, and advancing Antonella toward its first drill program. The immediate share price impact was not clear from available public information.