Gladiator Metals (TSXV: GLAD; OTC: GDTRF) has tapped Cormark Securities as lead underwriter for its $20 million, two part fund raising.
The first part of the deal is the private placement of approximately 10.6 million flow-through shares at a price of $1.42 each. Proceeds, estimated to be $15 million, will be spent on the company’s properties in Yukon.
The second part is the issuance of about 5.4 million common shares at a price of $0.92 each for proceeds of approximately $5 million. Proceeds from this sale will be used for working capital and general corporate purposes.
(The number of common shares was updated Tuesday afternoon to approximately 8.2 million at the same price of $0.92 per share. The change brings the total value of the offering up to $22.5 million.)
The offering is expected to close Sept. 9, 2025, subject to regulatory and other approvals.
Gladiator’s efforts are focused on its Whitehorse copper project 18 km southeast of Whitehorse, Yukon. The property includes the Little Chief and Arctic Chief historical mines and several other zones of interest, importantly the Cowley Park prospect.
Earlier this month, the first drill hole tested below 200 metres at Cowley intersected a 55-metre zone of disseminated bornite and chalcopyrite. It returned 0.70% copper from 176 metres below surface (plus gold, silver and molybdenum). Included in that core was a 6.0-metre intersection of 5.36% copper. Other high-grade holes were also drilled.
Also in August at the old Arctic Chief mine, first pass drilling pointed to an emerging high-grade, copper-gold discovery. Hole ACG-012D1 returned the highest assays: 6.0 metres at 2.16% copper, 2.13 g/t gold and 21.4 g/t silver, including 3.7 metres at 1.96% copper, 5.22 g/t gold and 5.17 g/t silver.
In mid-July, at the prospect known as Best Chance, hole ACG-008 returned 13.4 metres at 0.85%, including 9.4 metres at 1.00% copper (plus gold, silver and molybdenum).
The offering documents are posted on www.GladiatorMetals.com.
