Targa Exploration Corp. announced a non-brokered private placement of up to 7,500,000 hard dollar units at a price of CAD 0.20 per unit for the gross proceeds of CAD 1,500,000 on October 26, 2023. Each unit will consist of one common share of the company and one-half of a common share purchase warrant.

Each warrant will entitle the holder thereof to acquire one additional Share at a price of CAD 0.30 per warrant share until the date which is 24 months following the closing date. The transaction is expected to close on or about November 16, 2023 and is subject to customary closing conditions. In connection with the offering, the company may pay finder's fees to eligible finders.

All securities issued in connection with the offering will be subject to a statutory hold period of four months and a day from the closing date.