Golden Cross Upsizes Previously Announced Non-Brokered Private Placement
Golden Cross Upsizes Previously Announced
Non-Brokered Private Placement
Vancouver, British Columbia--(Newsfile Corp. - June 2, 2026) -
Golden Cross Resources
(TSXV:
AUX) (OTCQB: ZCRMF) (FSE: ZML0)
("Golden Cross" or the "Company")
is pleased to announce
that, as a result of significant demand, it has increased the size of its previously announced non-
brokered private placement (see news releases dated May 26, 2026). Golden Cross now plans to raise
gross proceeds of up to C$3,750,000 through the issuance of 22,058,824 units (the "Offering"), which
has been fully subscribed.
Matt Roma, Golden Cross CEO, stated, "
The decision to increase the size of the Offering reflects the
significant demand we received from quality investors and serves as a strong endorsement of our
strategy and growth plans. The additional capital will strengthen our balance sheet and provide greater
flexibility as we advance our exploration objectives and pursue opportunities to unlock value across
our portfolio."
The Offering consists of units at a price of $0.17 per unit (the "Units"). Each Unit will consist of one
common share in the capital of the Company (a "Share") and one half of one common share purchase
warrant (each whole warrant, a "Warrant"). Each Warrant will entitle the holder to purchase one
additional Share at a price of $0.30 per Share for a period of two years from closing of the Offering.
The Company intends to use the proceeds of the Offering for exploration drilling and development of the
Company's Reedy Creek high-grade gold project located in Victoria, Australia and for general working
capital and administrative purposes.
Golden Cross may pay finder's fees on some portion of the gross proceeds of the Offering to certain
arms-length parties who assist the Company in introducing subscribers to the Offering. The Offering is
subject to all necessary regulatory approvals, including the approval of the TSX Venture Exchange. The
securities issued under the Offering will be subject to a hold period under applicable securities laws in
Canada expiring four months and one day from the closing date of the Offering.
Members of the Company's management team may participate in the Offering including subscriptions
from related parties of the Company as defined in Multilateral Instrument 61-101 Protection of Minority
Security Holders in Special Transactions ("MI 61-101").
The participation of management in the Offering
is exempt from formal valuation and minority shareholder approval requirements pursuant to exemptions
contained in sections 5.5(c) and 5.7(1)(a) of MI 61-101.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the
securities in the United States. The securities 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 U.S. Persons unless registered under the U.S.
Securities Act and applicable state securities laws or an exemption from such registration is available.
About Golden Cross Resources
Golden Cross Resources
(TSXV: AUX) (OTCQB: ZCRMF)
is a Canadian mineral exploration
company focused on advancing the Reedy Creek gold project in Victoria, Australia. Located just 10
km from Southern Cross Gold's Sunday Creek discovery, the project covers two contiguous
tenements in one of Australia's most active epizonal gold corridors.
For more information:
Matt Roma, Director & CEO
+1-778-726-3356
Additional information about Golden Cross can be found on its website:
www.goldencrossresources.com
and at
www.sedarplus.ca
.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:
This news
release includes certain "forward-looking statements" under applicable Canadian securities
legislation relating plans for future exploration and drilling and the timing of same, the merits of the
Company's mineral projects and other plans of the Company, including statements relating to the use
of proceeds and completion of the Offering. Forward-looking statements are statements that are not
historical facts; they are generally, but not always, identified by the words "encouraging", "expects",
"plans", "anticipates", "believes", "interpret", "intends", "estimates", "projects", "aims", "suggests",
"often", "target", "future", "likely", "pending", "potential", "goal", "objective", "prospective", "possibly",
"preliminary" and similar expressions, or that events or conditions "will", "would", "may", "can", "could"
or "should" occur, or other statements, which, by their nature, refer to future events. The Company
cautions that forward-looking statements are based on the beliefs, estimates and opinions of the
Company's management on the date the statements are made, and that such statements are subject
to risks and uncertainties that may cause actual results, performance or developments to differ
materially from those contained in the statements. Consequently, there can be no assurances that
such statements will prove to be accurate and actual results and future events could differ materially
from those anticipated in such statements. Accordingly, readers should not place undue reliance on
forward-looking statements.
Factors that could cause future results to differ materially from those anticipated in forward-looking
statements include risks associated with exploration and drilling; the timing and content of upcoming
work programs; geological interpretations based on drilling that may change with more detailed
information; possible accidents; the possibility that the Company may not be able to secure permitting
and other governmental approvals necessary to carry out the Company's plans; the risk that the
Company will not be able to raise sufficient funds to carry out its business plans; the possibility that
future exploration results will not be consistent with the Company's expectations; increases in costs;
environmental compliance and changes in environmental and other local legislation and regulation;
interest rate other risks associated with mineral exploration operations, the risk that the Company will
encounter unanticipated geological factors and exchange rate fluctuations; changes in economic and
political conditions; and other risks involved in the mineral exploration industry. The reader is urged to
refer to the Company's Management's Discussion and Analysis, publicly available through the
Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval
(SEDAR+) at
www.sedarplus.ca
for a more complete discussion of risk factors and their potential
effects.
Forward-looking statements are based on a number of assumptions, including management's
assumptions about the following: the availability of financing for the Company's exploration activities;
operating and exploration costs; the Company's ability to attract and retain skilled staff; timing of the
receipt of necessary regulatory and governmental approvals; market competition; and general
business and economic conditions. The Company disclaims any intention or obligation to update or
revise any forward-looking statements, whether as a result of new information, future events or
otherwise, except as required by law.
Neither TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
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