GoGold Announces Closing of C$144 Million Bought Deal Financing

Rhea-AI Summary

GoGold (GLGDF) closed a bought deal financing on November 27, 2025 issuing 54,245,500 units at C$2.65 each for gross proceeds of C$143,750,575, including the full exercise of a 15% over-allotment of 7,075,500 units. Each unit contains one common share and half a warrant; warrants exercise at C$3.50 per share for three years. The company said net proceeds will fund exploration and development of its Los Ricos projects and general corporate purposes. BMO Capital Markets acted as sole bookrunner.

Positive

• Gross proceeds of C$143,750,575
• Full 15% over-allotment exercised: 7,075,500 units
• Proceeds earmarked for Los Ricos exploration and development

Negative

• Issued 54,245,500 new common shares (immediate dilution)
• Potential issuance of 27,122,750 warrant shares if fully exercised
• Securities not registered in the U.S., limiting U.S. investor access

Key Figures

Units issued: 54,245,500 units Offer price: C$2.65 per unit Gross proceeds: C$143,750,575 +4 more

7 metrics

Units issued 54,245,500 units Bought deal financing closed November 27, 2025

Offer price C$2.65 per unit Pricing of bought deal units

Gross proceeds C$143,750,575 Aggregate gross proceeds from offering

Over-allotment option 15% Fully exercised over-allotment on the unit offering

Additional units 7,075,500 units Units from full exercise of over-allotment option

Warrant exercise price C$3.50 per share Exercise price for each whole warrant

Warrant term 3 years Exercise period from closing of the offering

Market Reality Check

Price: $2.34 Vol: Volume 547,094 vs 20-day ...

normal vol

$2.34 Last Close

Volume Volume 547,094 vs 20-day average 498,608, showing slightly elevated trading activity ahead of the financing. normal

Technical Price 2.148 is trading above the 200-day MA of 1.58, indicating a pre-news uptrend.

Peers on Argus

GLGDF was up 1.3% pre-announcement with mixed peers: FGOVF up 5.58%, ALMTF up 4....

GLGDF was up 1.3% pre-announcement with mixed peers: FGOVF up 5.58%, ALMTF up 4.52%, while SLGGF was down 7.93% and GOTRF down 2.78%, indicating stock-specific rather than broad sector momentum.

Historical Context

5 past events · Latest: Oct 31 (Neutral)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Oct 31	Conference attendance	Neutral	-3.9%	Participation at New Orleans Investment Conference highlighted metals and mining exposure.
Oct 30	Conference attendance	Neutral	+2.8%	Announcement of CEO presentation and meetings at New Orleans Investment Conference.
Oct 16	Production update	Positive	+2.9%	Reported 45% annual production increase and year-end cash balance of <b>$141M</b>.
Sep 09	Exploration results	Positive	-1.5%	Strong Los Ricos South drilling results including very high-grade silver-equivalent intercepts.
Aug 06	Earnings release	Positive	+1.9%	Q3 2025 net income of <b>$8.2M</b> and revenue of <b>$17.7M</b> with strong cash position.

Pattern Detected

Positive operational and financial updates have generally seen supportive price reactions, while strong exploration news once saw a modest pullback.

Recent Company History

This announcement follows several operational and financial milestones in 2025. In Q3 2025, GoGold reported net income of $8.2M and revenue of $17.7M, with cash reserves of $139M. An October release highlighted a 45% annual production increase to 2,150,192 silver-equivalent ounces, and September drilling results at Los Ricos South reported high-grade intercepts. Two late-October conference announcements had mixed short-term price reactions, underscoring variable trading around non-fundamental events.

Market Pulse Summary

This announcement details a completed financing of C$143,750,575 via 54,245,500 units, each with hal...

Analysis

This announcement details a completed financing of C$143,750,575 via 54,245,500 units, each with half a warrant exercisable at C$3.50 for three years. Proceeds are earmarked for Los Ricos exploration and development and general corporate purposes. In context of prior production growth and solid quarterly results, investors may focus on deployment of this capital, future updates from Los Ricos, and any changes in operating performance or cash balances.

Key Terms

bought deal offering, over-allotment option, common share purchase warrant, short form prospectus, +1 more

5 terms

bought deal offering financial

"it has closed its previously announced bought deal offering (the "Offering")"

A bought deal offering is when an investment bank agrees to buy an entire new block of a company’s shares or bonds upfront and then resell them to investors, taking on the risk that it might not be able to sell everything at a profit. It matters to investors because it delivers fast, guaranteed cash to the company and clear pricing, but can also mean the securities are sold at a discount and may put short-term downward pressure on the market price, similar to someone buying a garage of items in bulk and then selling them individually.

over-allotment option financial

"full exercise of a 15% over-allotment option to purchase an additional"

An over-allotment option is a special agreement that allows underwriters to sell more shares than initially planned if demand is high. Think of it like a retailer offering extra units of a popular product to meet additional customer interest. This option helps ensure the full sale is completed and can also give investors extra shares if they want more.

common share purchase warrant financial

"one common share of the Company and half of one Common Share purchase warrant"

A common share purchase warrant is a tradable contract that gives its holder the right, but not the obligation, to buy a company’s common stock at a specified price within a set period. Think of it like a coupon for future shares: if the stock rises above the coupon price it can boost returns for the holder, but when used it increases the number of outstanding shares and can reduce each existing shareholder’s ownership and affect the company’s cash position.

short form prospectus regulatory

"The Common Shares were offered by way of a short form prospectus in all"

A short form prospectus is a condensed legal document that gives investors the key facts about a company’s new securities offering—such as the offering size, price range, main financial highlights, and principal risks—without repeating full historical disclosures. It matters because it speeds up and simplifies the process of buying newly issued stock or bonds while still giving investors a focused “fact sheet” to compare the deal’s terms and risks, much like a product brochure that complements an existing full manual.

Regulation S regulatory

"as such terms are defined in Regulation S under the U.S. Securities Act"

Regulation S is a set of rules that allows companies to sell securities (like shares or bonds) to investors outside the United States without having to follow all U.S. securities laws. It matters because it makes it easier for companies to raise money from international investors while still complying with U.S. regulations.

AI-generated analysis. Not financial advice.

Halifax, Nova Scotia--(Newsfile Corp. - November 27, 2025) - GoGold Resources Inc. (TSX: GGD) ("GoGold", "the Company") is pleased to announce that it has closed its previously announced bought deal offering (the "Offering") of 54,245,500 units (the "Units") at a price of C$2.65 per offered Unit for aggregate gross proceeds of C$143,750,575. This includes proceeds from the full exercise of a 15% over-allotment option to purchase an additional 7,075,500 Units. Each Unit is comprised of one common share of the Company (a "Common Share") and half of one Common Share purchase warrant (each whole warrant, a "Warrant"). Each Warrant shall be exercisable to acquire one Common Share (a "Warrant Share") at a price of C$3.50 per Warrant Share for a period of three years from the closing of the Offering.

The net proceeds of the offering will be used for the exploration and development of the Company's Los Ricos projects and for general corporate purposes.

BMO Capital Markets was the sole bookrunner for the Offering, on behalf of a syndicate of underwriters. The Common Shares were offered by way of a short form prospectus in all of the provinces of Canada, other than Quebec.

The securities have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), or any U.S. state securities laws, and may not be offered or sold in the "United States" or to "U.S. persons" (as such terms are defined in Regulation S under the U.S. Securities Act)) absent registration under the U.S. Securities Act and applicable U.S. state securities laws or in compliance with an applicable exemption therefrom. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor will there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About GoGold Resources

GoGold Resources (TSX: GGD) is a Canadian-based silver and gold producer focused on operating, developing, exploring and acquiring high quality projects in Mexico. The Company operates the Parral Tailings mine in the state of Chihuahua and has the Los Ricos South and Los Ricos North exploration and development projects in the state of Jalisco. Headquartered in Halifax, NS, GoGold is building a portfolio of low cost, high margin projects. For more information visit gogoldresources.com.

For further information please contact:

Steve Low
Corporate Development
GoGold Resources
T: 416 855 0435
E: steve@gogoldresources.com

CAUTIONARY STATEMENT:

The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and may not be offered or sold within the United States or to, or for the benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act) except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities laws or pursuant to exemptions therefrom. This release does not constitute an offer to sell or a solicitation of an offer to buy of any of GoGold's securities in the United States.

This news release may contain "forward-looking information" as defined in applicable Canadian securities legislation. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding the Parral tailings project, the Los Ricos project, future operating margins, future production and processing, and future plans and objectives of GoGold, constitute forward looking information that involve various risks and uncertainties. Forward-looking information is based on a number of factors and assumptions which have been used to develop such information but which may prove to be incorrect, including, but not limited to, assumptions in connection with the continuance of GoGold and its subsidiaries as a going concern, general economic and market conditions, mineral prices, the accuracy of mineral resource estimates, and the performance of the Parral project. There can be no assurance that such information will prove to be accurate and actual results and future events could differ materially from those anticipated in such forward-looking information. Important factors that could cause actual results to differ materially from GoGold's expectations include exploration and development risks associated with GoGold's projects, the failure to establish estimated mineral resources or mineral reserves, volatility of commodity prices, variations of recovery rates, and global economic conditions. For additional information with respect to risk factors applicable to GoGold, reference should be made to GoGold's continuous disclosure materials filed from time to time with securities regulators, including, but not limited to, GoGold's Annual Information Form. The forward-looking information contained in this release is made as of the date of this release.

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/276175

FAQ

How much did GoGold (GLGDF) raise in the November 27, 2025 bought deal?

GoGold raised C$143,750,575 from the sale of 54,245,500 units at C$2.65 each.

What does the GoGold (GLGDF) unit include and how do the warrants work?

Each unit contains one common share and half a warrant; every whole warrant buys one share at C$3.50 for three years.

How will the GoGold (GLGDF) financing affect shareholder dilution?

The financing issued 54,245,500 new shares plus potential 27,122,750 shares if all warrants are exercised.

What will GoGold (GLGDF) use the net proceeds for?

Net proceeds will fund exploration and development of the Los Ricos projects and general corporate purposes.

Who led the underwriting for GoGold's (GLGDF) bought deal?

BMO Capital Markets acted as the sole bookrunner for the offering on behalf of a syndicate of underwriters.

Can U.S. investors buy the GoGold (GLGDF) securities from this offering?

No; the securities were not registered under the U.S. Securities Act and may not be offered or sold in the United States or to U.S. persons.