Tiernan Gold Corp, a Canadian gold-focused subsidiary of Hochschild Mining PLC, is advancing toward a reverse takeover that would take the company public. The firm sold subscription receipts that will convert into ordinary shares and warrants upon release of escrow, giving investors exposure to Tiernan’s gold assets at an initial price of CAD 5.00 per receipt. Each full warrant will enable its holder to purchase a Tiernan share at CAD 6.50 within 24 months of the deal’s closing, providing additional capital potential if the shares appreciate. The financing, split between a treasury issuance and a secondary sale, equips Tiernan with fresh funds to progress its gold operations while allowing its parent to partially monetize its stake. Hochschild will still control about 70 % of Tiernan after the transaction, or 62 % on a fully-diluted basis, maintaining strategic influence as the company moves toward public markets. Hochschild also expects to receive approximately CAD 16.5 million in cash proceeds from the secondary component, strengthening its own balance sheet. No operating metrics, revenue figures, or production volumes were disclosed in the announcement.

Total raised

$42M

Funding rounds

1

Latest round

Equity

Latest activity

Nov 2025