Galloper Gold Closes $2.5M Non-Brokered Private Placement

Rhea-AI Summary

Galloper Gold (OTC Pink: GGDCF) closed a $2.5M non-brokered private placement on February 9, 2026, issuing 41,666,667 units at $0.06 per unit. Each unit includes one common share and one warrant exercisable at $0.09 until February 9, 2029.

Finders' fees of $31,184.85 were paid. Net proceeds are intended for the 2026 exploration program and general working capital. Issued securities are subject to Canadian statutory hold periods and CSE exchange hold requirements.

Positive

• Raised $2.5M through non-brokered private placement
• Issued 41,666,667 units at $0.06 per unit
• Proceeds earmarked for 2026 exploration program and working capital

Negative

• Warrants exercisable at $0.09 until Feb 9, 2029, creating potential future dilution
• Paid $31,184.85 in finders' fees, reducing net proceeds

Vancouver, British Columbia--(Newsfile Corp. - February 9, 2026) - Galloper Gold Corp. (CSE: BOOM) (OTC Pink: GGDCF) (the "Company" or "Galloper") is pleased to announce that, further to its news releases of January 13, 2026 and February 2, 2026, it has closed its non-brokered private placement (the "Private Placement") issuing 41,666,667 units of the Company ("Units") at a price of $0.06 per Unit raising aggregate gross proceeds $2,500,000.

Each Unit consists of one common share and one common share purchase warrant, with each warrant exercisable to purchase one additional common share at a price of $0.09 until February 9, 2029.

Hratch Jabrayan, CEO of the Company commented, "We are thrilled to have closed this private placement in such a short period of time with unprecedented support from our investors and partners. We are now in a very strong position to commence and deliver on our 2026 plan. Our strategic deliverables are set, and we look forward to communicating details and results in the near future".

The Company paid finders' fees totalling $31,184.85 in cash to Haywood Securities Inc., Ventum Financial Corp., Research Capital Corporation, Canaccord Genuity Corp. and BMO Nesbitt Burns Inc.

All securities issued under the Private Placement will be subject to statutory hold periods pursuant to securities laws in Canada, including the statutory Restricted Period prescribed by Section 2.5 of National Instrument 45-102 Resale of Securities, and are subject to the Exchange Hold (as defined under Canadian Securities Exchange ("CSE") Policy 1 Interpretation and General Provisions which definition became effective May 22, 2025), required in certain circumstances in accordance with Policy 6 Distributions and Corporate Finance of the CSE.

The Company intends to use the net proceeds from the Private Placement for the commencement of the Company's 2026 exploration program and for general working capital purposes.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful.

About Galloper Gold Corp.

Galloper is focused on mineral exploration in the Central Newfoundland Gold Belt with its flagship Glover Island Property, 24 km southeast of Corner Brook.

For more information please visit www.GalloperGold.com and the Company's profile on SEDAR+ at www.sedarplus.ca.

On behalf of the Board of Directors,

Mr. Hratch Jabrayan
CEO and Director
Galloper Gold Corp.

Company Contact:

info@gallopergold.com
Tel: 778-655-9266

Investor Relations:
Hratch Jabrayan: Hratch@gallopergold.com

Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This news release contains forward-looking statements within the meaning of applicable securities laws. The use of any of the words "anticipate", "plan", "continue", "expect", "estimate", "objective", "may", "will", "project", "should", "predict", "potential" and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company cannot give any assurance that they will prove correct. Since forward-looking statements address future events and conditions, they involve inherent assumptions, risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of assumptions, factors and risks. These assumptions and risks include, but are not limited to, assumptions and risks associated with mineral exploration generally, risks related to capital markets, risks related to the state of financial markets or future metals prices and the other risks described in the Company's publicly filed disclosure.

Management has provided the above summary of risks and assumptions related to forward-looking statements in this news release in order to provide readers with a more comprehensive perspective on the Company's future operations. The Company's actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits the Company will derive from them. These forward-looking statements are made as of the date of this news release, and, other than as required by applicable securities laws, the Company disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/283066

FAQ

How much did Galloper Gold (GGDCF) raise in the February 9, 2026 private placement?

Galloper Gold raised $2.5 million in the non-brokered private placement. According to the company, proceeds came from issuing 41,666,667 units at $0.06 per unit, each including one warrant exercisable at $0.09 until 2029.

What are the terms of the warrants issued by Galloper Gold (GGDCF) on February 9, 2026?

Each unit included one warrant exercisable at $0.09 per share until February 9, 2029. According to the company, each warrant can be used to purchase one additional common share before expiry.

How will Galloper Gold (GGDCF) use the net proceeds from the $2.5M financing?

The company intends to use net proceeds to commence its 2026 exploration program and for general working capital. According to the company, funding is targeted at exploration activities and operational needs during 2026.

Were any fees paid in connection with Galloper Gold's (GGDCF) private placement on February 9, 2026?

Yes, the company paid $31,184.85 in finders' fees to several firms. According to the company, fees were paid in cash to named dealers, reducing the net amount available from the placement.

Are the securities issued by Galloper Gold (GGDCF) on February 9, 2026 immediately tradable?

No, the securities are subject to statutory hold periods and the CSE Exchange Hold requirements. According to the company, Canadian resale restrictions and exchange holds apply in certain circumstances, delaying resale.