Gold mining company Amapá Minerals Holdings Inc. has raised approximately CA$140 million through an initial public offering (IPO) in Canada, marking its debut as a publicly traded company on the Toronto Stock Exchange (TSX). The company began trading on July 27, 2026, under the ticker “AMAP.”
The offering consisted of 127,272,728 common shares priced at CA$1.10 per share. Amapá Minerals also granted the offering’s underwriters an over-allotment option to purchase up to an additional 19,090,909 common shares at the IPO price of CA$1.10 per share. If exercised in full, the option would generate an additional CA$21 million, bringing the total potential gross proceeds from the offering to approximately CA$161 million.
A Gold Asset in Brazil’s Guiana Shield
Amapá Minerals’ principal asset is the Amapá Project, historically known as the Tucano Mine, located in the Guiana Shield in northern Brazil. The open-pit gold mining operation, which was previously in production, is held through the company’s wholly owned Brazilian subsidiary.
According to the company, net proceeds from the offering will primarily be used to advance the Urucum North underground project, which is expected to receive CA$45 million.
A further CA$21 million will be allocated to brownfield and greenfield exploration, while CA$25 million is earmarked for plant and infrastructure improvements. The company also plans to allocate CA$35 million to working capital, general corporate expenses and costs associated with preparing its corporate structure to operate as a publicly listed company.
Another CA$14 million will be directed toward expanding tailings storage capacity.
If the over-allotment option is exercised in full, the offering could therefore raise up to approximately CA$161 million in gross proceeds.
The new capital and the planned ramp-up of operations are expected to support the development of the project while benefiting stakeholders and communities in the surrounding region.
A Large-Scale Gold Asset With Significant Potential
According to Amapá Minerals, the Amapá Project benefits from a strategic location in northern Brazil, established infrastructure and a highly prospective gold district containing multiple deposits.
The company aims to restart and expand the Amapá Gold Project, an established mining complex located in the Guiana Shield.
The project has historically produced more than 1.5 million ounces of gold and benefits from significant existing infrastructure, including a 10,000-ton-per-day processing plant, power infrastructure, tailings facilities and established access roads according to the company.
The combination of existing infrastructure, a historically producing gold operation and additional exploration and development opportunities positions the Amapá Project as a potentially significant gold asset in Brazil’s northern mining sector.
Amapá Minerals is listed on Brazilian Finance’s Markets section under the ticker AMAP.
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