Soma Gold Corp. has appointed Wylie Hui as its Chief Financial Officer (CFO), effective July 13, 2026, to strengthen its financial leadership as the company prepares for planned growth. The Vancouver-based mining company also announced six key management appointments at its Colombian operating subsidiary, Operadora Minera S.A., aimed at enhancing operational expertise across processing, sustainability, and exploration. These strategic hires are part of a broader effort to bolster the management team's depth and experience ahead of major operational milestones expected in the next 18 months.

New CFO and Financial Leadership

Wylie Hui, a Chartered Professional Accountant (CPA, CA) and Family Enterprise Advisor (FEA), joins Soma Gold with over 25 years of finance and operational experience in the mining and natural resources industries. He previously served as CFO for several publicly listed companies, including Eastern Platinum Limited, BQE Water Inc., UEX Corporation, and Sandfire Resources America Inc. Geoff Hampson, President and CEO of Soma Gold, highlighted Hui's deep expertise in financial reporting, capital markets, and public company governance as critical for supporting the company's growth strategy and creating long-term shareholder value.

Colombian Operations Team Enhancements

Soma Gold has restructured its Colombian management team with the following appointments to improve operational efficiency, sustainability, and resource management:

Strategic Outlook and Operations

The management enhancements are designed to support Soma Gold's operational foundation in Colombia, which includes two fully permitted mills with a combined milling capacity of 675 tpd. The company expects the new team to drive improvements in mining and processing, mine planning, cash flow management, and cost controls. Hui expressed enthusiasm for joining the team at a dynamic time, citing the company's solid operational foundation and commitment to strategic objectives. Soma Gold continues to finance its regional exploration program through internally generated funds.

Soma Gold Corp. announced a non-brokered private placement offering of up to 10,000,000 common shares at a price of C$0.75 per share for aggregate gross proceeds of up to C$7,500,000. The net proceeds from the Offering are intended to fund capital expenditures to expand production at the Escondida and Aurora mines, complete the installation of ore sorting equipment, and accelerate exploration activities at the Escondida property. Additionally, funds will be used for working capital to pre-pay for ore purchases from small legal mines near the Company's mills and for general corporate purposes.

The Offering is being conducted pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 – Prospectus Exemptions, as amended by Coordinated Blanket Order 45-935. It will be made available to purchasers resident in all provinces of Canada, except Québec, and in other jurisdictions where the Offering may be lawfully made. Soma Gold Corp. will file a Form 45-106F19 offering document, which will be accessible under the Company's profile on SEDAR+ and on its website.

Geoff Hampson, CEO of Soma Gold Corp., stated that the financing positions the company to accelerate production growth at both mines while completing ore sorting infrastructure. He noted that these milestones are expected to have a meaningful impact on output and margins. The company also aims to support the formalization of small-scale legal mining operations in the region through ore purchase agreements.

The Offering is scheduled to close on or about June 19, 2026, subject to conditions including the receipt of all necessary regulatory approvals and the conditional approval of the TSX Venture Exchange. In connection with the Offering, Soma Gold Corp. has engaged Integrity Capital Group Inc. to act as its financial advisor. The company may pay a cash commission of up to 7% of the gross proceeds and issue non-transferable broker warrants equal to up to 7% of the number of Shares sold. Each Broker Warrant will entitle the holder to acquire one Share at an exercise price of C$1.10 per Share for a period of 24 months from the Closing Date.

Soma Gold Corp. also announced the completion of a shares-for-debt settlement transaction. The company settled an aggregate of C$25,780,086 owed to Conex Services Inc. in exchange for the issuance of 23,436,442 Shares at a deemed price of approximately C$1.10 per Share.

Offering Details

Debt Settlement Details