Goldgroup Announces Revised Terms of Non-Brokered Private Placement

Core Viewpoint - Goldgroup Mining Inc. has revised the terms of its non-brokered private placement, aiming to raise up to $4,000,000 through the issuance of units consisting of common shares and warrants [1][3]. Group 1: Private Placement Details - The private placement will consist of up to 5,000,000 units at a price of $0.80 per unit, with each unit comprising one common share and one warrant [1]. - Each warrant will allow the purchase of one additional common share at a price of $1.10 for a period of 24 months from issuance [1]. - The private placement is subject to approval from the TSX Venture Exchange, and all securities will be subject to a statutory hold period of four months and one day from closing [2]. Group 2: Strategic Intent and Use of Proceeds - The net proceeds from the private placement will be primarily used for assessing and pursuing acquisition opportunities in the mining sector [3]. - The company is focused on enhancing shareholder value by potentially acquiring operating mines or strategic stakes in other mining companies [3]. - Goldgroup has been conducting due diligence on various mineral projects but has not yet completed any acquisition transactions [3].