G50 Corp. Announces it has Commitments for US$18.23 Million to Accelerate Drilling at its Golconda and White Caps Projects in Arizona and Nevada

G50 Corp (ASX: G50; OTCQX: GFTYF) has received commitments for approximately US$18.23 million (A$26.25 million) via a private placement to institutional and professional investors at A$0.595 per share.

Rhea-AI Summary

G50 Corp (ASX: G50; OTCQX: GFTYF) has received commitments for approximately US$18.23 million (A$26.25 million) via a private placement to institutional and professional investors at A$0.595 per share. Hancock Prospecting is the cornerstone investor with a US$5.52 million (A$7.95 million) commitment, and settlement is expected on August 4, 2026.

According to G50, proceeds will fund accelerated exploration at its Golconda Project in Arizona and White Caps Project in Nevada, including additional drilling, geological studies, gallium metallurgical work and early permitting at Golconda.

Positive

• US$18.23 million equity raising to fund exploration
• Placement issue price set at A$0.595 per share
• Cornerstone commitment of US$5.52 million from Hancock Prospecting
• Funds earmarked to accelerate drilling at two US projects

Negative

• Equity placement implies shareholder dilution at A$0.595 per share

Argus Jul 29 session

+13.28% close to close Open Argus

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News Market Reaction – GFTYF

On Jul 29, the day this news came out, GFTYF closed 13.28% above the previous close.

Data tracked by StockTitan Argus for the Jul 29 session.

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PHOENIX, July 29, 2026 /PRNewswire/ -- G50 Corp. Limited (ASX: G50; OTCQX: GFTYF) announced it has received commitments to raise approximately US$18.23 million (A$26.25 million) at an issue price of A$0.595 per ordinary share in a private placement from institutional and professional investors in several countries. The cornerstone investor in the placement is Hancock Prospecting, one of Australia's most respected natural resources investors, with a US$5.52 million (A$7.95 million) commitment. Settlement is expected to occur on August 4, 2026.

Funds raised will be used to accelerate exploration at both the Golconda Project (Arizona) and White Caps Project (Nevada), including further drilling, geological studies, gallium metallurgical work and early permitting activities at Golconda.

G50 recently announced the results of its 2025-2026 drill program at Golconda that confirmed shallow and strong gold-silver and gallium, which continued to expand the known mineralization at Golconda.

G50 Ltd. (https://www.g50corp.com) is an exploration company progressing critical minerals and precious metals projects in Arizona and Nevada. The Golconda Project is located in Northwest Arizona, a well-established mining jurisdiction with a long history of base and precious metals production. In Nevada, the company's White Caps Project is a historical gold mine that was previously drilled by Freeport McMoRan between 1982 to 1984. Exploration has identified gold and antimony mineralization at this project.

Not an offer of securities

This press release does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States or any other jurisdiction. Any securities described in this announcement have not been, and will not be, registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States except in transactions exempt from, or not subject to, the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws.

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SOURCE G50 Corp Limited

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did G50 Corp (GFTYF) announce about its latest funding on July 29, 2026?

G50 Corp announced commitments to raise about US$18.23 million in a private placement. According to G50, the funds will support exploration and drilling at its Golconda and White Caps projects in Arizona and Nevada.

How much capital is G50 Corp (GFTYF) raising and at what share price?

G50 Corp is raising approximately US$18.23 million (A$26.25 million) at A$0.595 per ordinary share. According to G50, the placement is to institutional and professional investors across several countries.

Who is the cornerstone investor in G50 Corp’s July 2026 placement (GFTYF)?

The cornerstone investor is Hancock Prospecting, committing about US$5.52 million (A$7.95 million). According to G50, Hancock is described as a respected Australian natural resources investor participating in the private placement.

When is settlement of G50 Corp’s private placement (GFTYF) expected?

Settlement of G50 Corp’s private placement is expected on August 4, 2026. According to G50, this date applies to the committed equity raise from institutional and professional investors at A$0.595 per share.

How will G50 Corp (GFTYF) use the US$18.23 million it is raising?

G50 Corp plans to use the funds to accelerate exploration at Golconda and White Caps. According to G50, spending includes further drilling, geological studies, gallium metallurgical work and early permitting activities at the Golconda Project.

What projects are being funded by G50 Corp’s new capital raise (GFTYF)?

The capital raise will fund the Golconda Project in Arizona and White Caps Project in Nevada. According to G50, these projects target critical minerals, precious metals, and identified gold, silver, gallium and antimony mineralization.

Is G50 Corp’s July 2026 placement (GFTYF) an offer of securities in the United States?

No, the placement is not an offer of securities in the United States. According to G50, the securities are not registered under the U.S. Securities Act and may only be sold in exempt or non‑subject transactions.