Great Pacific Gold Company (GPAC-TSXV, GPGCF-OTCQX, VEH-FSE) It is increasing the size of a previously announced public offering of units which is now expected to raise $20 million in proceeds allocated to the company’s gold and copper projects in Papua New Guinea.
The previous goal was $15 million.
Under the expanded offering, the company will issue up to 42.6 million units at a price of 47 cents per unit. Each unit will consist of one common share and one-half of a common share purchase warrant. Each Warrant will entitle the holder to receive a common share valued at 70 cents for a period of 24 months from closing, which is expected to occur on April 2, 2026.
On Friday, Great Pacific shares rose 2.38%, or $0.01, to 43 cents in early trading. Shares are trading in a 52-week range of 69 cents to 25 cents.
Great Pacific Gold said its vision is to become the leading gold and copper developer in Papua New Guinea, where the company has a portfolio of exploration stage projects. They include the pioneering Wild Dog Project located in the Eastern New Britain Province of Papua New Guinea. Wild Dog is a brownfield exploration project with a history of small-scale gold mining. The project contains numerous hydrothermal and magmatic porphyry targets evidenced by previous exploration and operations. The company completed the road renovation in August 2024, and access to the project has been established for essential environmental and exploration work.
Great Pacific said the Wild Dog Structure Corridor extends 15 kilometers in length, and geophysical data indicate a significant depth range. Thermal structure drilling on the Sinivit target produced high-grade results, including WDG-08, which returned 8.4 meters at 50 g/t gold equivalent (AuEg) from 154 metres. The current drilling program will extend to 2026 with the second drilling rig now operational.
The company’s Kesar project is located in the Eastern Highlands Province of Papua New Guinea and is located near… K92 Mining Company (I was-TSX, KNTNF-OTCQX) mine housing. Kesar is a greenfield exploration project with several high priority targets in close proximity to the K92 property boundary. Multiple thermal veins at Kesar are on strike and have the same orientation as the main K92 deposit. Great Pacific’s exploration work at Kesar to date has shown that these veins contain high grades of gold in outcrops and very high gold in soil grades, coinciding with aeromagnetic highs.
The Company conducted a diamond drilling program in the key target areas of the Kesar Project from November 2024 to May 2025, and developed a follow-on Phase 2 program for 2026. The Great Pacific Arau Project is located in the eastern uplands located to the south and adjacent to the K92 mine tenements. Arau contains the highly prospective Mount Victor exploration target with potential high-sulphate mineral deposits in a gold case. The Phase 1 reverse circulation drilling program at Mount Victor was completed in August 2024, with encouraging results.
