Vancouver, British Columbia — February 13, 2026 — Leads & Copy — Canagold Resources Ltd. (TSX: CCM) (OTCQB: CRCU) (FSE: CANA) announced the closing of an offering that raised $9,228,456.50. The offering consisted of 9,396,570 common shares priced at $0.45 each, and 10,000,000 flow-through shares priced at $0.50 each.
The company intends to use the net proceeds from the common share issuance for working capital, administrative expenses, and project development. Proceeds from the flow-through shares will be allocated to Canadian exploration expenses at the New Polaris project, qualifying as flow-through mining expenditures and BC flow-through mining expenditures under the Income Tax Act (Canada) and the Income Tax Act (British Columbia), respectively.
Canagold received conditional approval from the Toronto Stock Exchange (TSX) for the offering on January 22, 2026, and is seeking final approval. No finder’s fees were paid, and the shares are subject to a four-month hold period expiring on June 14, 2026.
Sun Valley Investments AG purchased 5,000,000 flow-through shares and 4,698,285 common shares in the offering. Following the closing of the Offering, Sun Valley beneficially owns 103,226,102 Common Shares, representing in the aggregate 48.25% of the Company’s total issued and outstanding common shares.
The company said that the offering is a “related party transaction” as this term is defined in Multilateral Instrument 61-101 – Protection of Minority Securityholders in Special Transactions (“MI 61-101”), because Sun Valley is an insider of the Company. Canagold is relying on exemptions from valuation and minority approval requirements under MI 61-101, as the shares purchased by Sun Valley do not exceed 25% of the company’s market capitalization.
Canagold Resources Ltd. is focused on advancing the New Polaris Project through feasibility and permitting. The company is also looking to grow its assets through acquisitions of additional advanced projects.
Catalin Kilofliski is the Chief Executive Officer of Canagold.
Source: Canagold Resources Ltd.
