Targa Announces Closing of Private Placement for Gross Proceeds of $4.0M
CSE: TEX | OTCQB: TRGEF | FRA: V6Y
FOR IMMEDIATE RELEASE February 19, 2026
NOT FOR DISSEMINATION IN OR INTO THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES.
TARGA ANNOUNCES CLOSING OF PRIVATE PLACEMENT FOR GROSS PROCEEDS OF $4.0M
Vancouver, British Columbia (February 19, 2026) – Targa Exploration Corp. (CSE: TEX | FRA: V6Y | OTCQB:
TRGEF) (“Targa” or the “ Company”) today announced that it has closed its private placement for gross
proceeds of $4,025,000 (the “Offering”), as previously announced on January 30, 2026 and February 3, 2026.
Pursuant to the closing of the Offering, the Company issued a total of 16,100,000 units of the Company (each
a “ Unit”) at a price of $0.25 per Unit. Each Unit consists of one common share of the Company (each a
“Share”) and one common share purchase warrant (each, a “ Warrant”). Each Warrant entitles the holder
thereof to acquire one additional Share (each, a “Warrant Share”) at a price of $0.50 per Warrant Share until
February 19, 2028, subject to an acceleration clause. If the 10-day volume-weighted average trading price of
the Shares as quoted on the Canadian Securities Exchange is equal to or greater than $0.90 at the close of any
trading day, then the Company may, at its option, accelerate the expiry date of the Warrants by issuing a
press release (a “Warrant Acceleration Press Release”) announcing that the expiry date of the Warrants shall
be deemed to be on the 30th day following the issuance of the Warrant Acceleration Press Release (the
“Accelerated Expiry Date”). All Warrants that remain unexercised following the Accelerated Expiry Date shall
immediately expire and all the rights of holders of such Warrants shall be terminated without any
compensation to such holder.
The net proceeds of the Offering will be used for exploration of the Company’s mineral exploration projects
and or working capital purposes.
In connection with the Offering, the Company paid finders fees of an aggregate of $218,700 in cash and issued
an aggregate of 874,800 finders warrants of the Company (the “Finders Warrants”) to certain eligible arm’s
length finders. Each Finders Warrant entitles the finder to purchase one common share of the Company (a
“Finder Warrant Share”) at a price of $0.50 per Finder Warrant Share until February 19, 2028.
An officer of the Company subscribed for an aggregate of 40,000 Units for gross proceeds of $10,000 under
the Offering. Participation by this insider of the Company in the Offering constitutes a related -party
transaction as defined under Multilateral Instrument 61 -101 – Protection of Minority Security Holders in
Special Transactions (“MI 61 -101”). The issuance of these securities is exempt from the for mal valuation
requirements of Section 5.4 of MI 61 -101 pursuant to Subsection 5.5(b) of MI 61 -101 as the Company’s
common shares are listed on the Exchange. The issuance of these securities is also exempt from the minority
approval requirements of Section 5.6 of MI 61-101 pursuant to Subsection 5.7(1)(b) of MI 61-101 as the fair
market value was less than $2,500,000.
All securities issued pursuant to and in connection with the closing of the Offering, including Finder Warrant
Shares issuable upon the exercise of Finder Warrants, are and will be subject to a hold period expiring June
20, 2026.
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 accordingly, may not be
offered or sold within the United States except in compliance with the registration requirements of the U.S.
Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press
release does not constitute an offer to sell or a solicitation to buy any securities in any jurisdiction.
About Targa
Targa Exploration Corp. (CSE: TEX | FRA: V6Y | OTCQB: TRGEF) is a Canadian exploration company engaged in
the acquisition, exploration, and development of gold mineral properties with headquarters in Vancouver,
British Columbia. The Company’s focus is on early -stage projects in premier mining jurisdictions with strong
potential for making Tier 1 grass roots precious metals discoveries. Targa’s principal asset is its Opinaca gold
project in Quebec where wide -spread gold mineralizat ion was recently discovered during a maiden drill
campaign in 2025. The Company has also recently acquired options to acquire interests in the Venidero and
El Zanjon gold-silver projects in Santa Cruz, Argentina.
Contact Information: For more information and to sign-up to the mailing list, please contact:
Cameron Tymstra, CEO and President
Tel: 416-668-1495
Email: [email protected]
Website: www.targaexploration.com
SPECIAL NOTE REGARDING FORWARD LOOKING STATEMENTS
This news release includes certain “Forward -Looking Statements” within the meaning of the United States Private
Securities Litigation Reform Act of 1995 and “forward -looking information” under applicable Canadian securities laws.
When used in this news rel ease, the words “anticipate”, “believe”, “proposed”, “estimate”, “expect”, “target”, “plan”,
“forecast”, “may”, “would”, “could”, “schedule” and similar words or expressions, identify forward -looking statements
or information. These forward-looking statements or information relate to, among other things: obtaining the required
regulatory, exchange, and board approvals; the proposed use of proceeds of the Offering; and the exploration and
development of the Company’s properties.
Forward-looking statements and forward- looking information relating to any future mineral production, liquidity,
enhanced value and capital markets profile of Targa, future growth potential for Targa and its business, and future
exploration plans are based on management’s reasonable assumptions, estimates, expectations, analyses and opinions,
which are based on management’s experience and perception of trends, current conditions and expected developments,
and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to
be incorrect. Assumptions have been made regarding, among other things, the price of gold and other metals; costs of
exploration and development; the estimated costs of development of exploration projects; Targa ’s ability to operate in
a safe and effective manner and its ability to obtain financing on reasonable terms.
These statements reflect Targa’s respective current views with respect to future events and are necessarily based upon
a number of other assumptions and estimates that, while considered reasonable by management, are inherently subject
to significant business, economic, competitive, polit ical and social uncertainties and contingencies. Many factors, both
known and unknown, could cause actual results, performance, or achievements to be materially different from the
results, performance or achievements that ar e or may be expressed or implied by such forward- looking statements or
forward-looking information and Targa has made assumptions and estimates based on or related to many of these
factors. Such factors include, without limitation : price volatility of gold and other metals ; risks associated with the
conduct of the Company's mineral exploration activities in Canada; regulatory, consent or permitting delays; risks
relating to reliance on the Company's management team and outside contractors; the Company's inability to obtain
insurance to cover all risks, on a commercially reasonable basis or at all; currency fluctuations; risks regarding the failure
to generate sufficient cash flow from operations; risks relating to project financing and equity issuances; risks and
unknowns inherent in all mining projects, including the inaccuracy of reserves and resources, metallurgi cal recoveries
and capital and operating costs of such projects; contests over title to properties, particularly title to undeveloped
properties; laws and regulations governing the environment, health and safety; the ability of the communities in which
the Company operates to manage and cope with the implications of public health crises ; the economic and financial
implications of public health crises to the Company; operating or technical difficulties in connection with mining or
development activities; employee relations, labour unrest or unavailability; the Company's interactions with surrounding
communities; the Company's ability to successfully integrate acquired assets; the speculative nature of exploration and
development, including the risks of dimini shing quantities or grades of reserves; stock market volatility; conflicts of
interest among certain directors and officers; lack of liquidity for shareholders of the Company; litigation risk; and the
factors identified under the caption “Risk Factors” in Targa ’s management discussion and analysis and other public
disclosure documents . Readers are cautioned against attributing undue certainty to forward- looking statements or
forward-looking information. Although Targa has attempted to identify important factors that could cause actual results
to differ materially, there may be other factors that cause results not to be anticipated, estimated or intended. Targa
does not intend, and does not assume any obligation, to update these forward -looking statements or forward -looking
information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements
or information, other than as required by applicable law.
Neither the Canadian Securities Exchange nor the Market Regulator (as that term is defined in the policies of the
Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.