Prnewswireยท2025-09-25 12:00Core Viewpoint - Contango ORE, Inc. has successfully priced its underwritten public offering of common shares, raising approximately $50 million to fund its mining projects and general corporate purposes [1][2]. Group 1: Offering Details - The offering consists of 1,975,000 shares priced at $20.00 per share and includes a pre-funded warrant for 525,000 shares at $19.99 each, with gross proceeds expected to be around $50 million before expenses [1]. - The closing of the offering is anticipated to occur on or about September 26, 2025, pending customary closing conditions [1]. Group 2: Use of Proceeds - Net proceeds will be allocated to advance the Lucky Shot project towards a mine production decision over the next two years, including drilling and underground development [2]. - Funds will also support the Johnson Tract project, focusing on road construction, camp winterization, exploration tunnel construction, and feasibility-level mine planning [2]. - Remaining proceeds will be utilized for general corporate purposes, including working capital [2]. Group 3: Management and Underwriters - Canaccord Genuity is the Sole Bookrunner for the offering, with Cormark Securities as Lead Manager and Maxim Group LLC, Roth Capital Partners, and Freedom Capital Markets as Co-Managers [3]. Group 4: Company Overview - Contango ORE, Inc. is engaged in gold exploration in Alaska, holding interests in multiple projects, including a 30% stake in Peak Gold, LLC, and leases on the Johnson Tract and Lucky Shot projects [6]. - The company has approximately 8,600 acres of peripheral mining claims and a 100% interest in about 145,000 acres of State of Alaska mining claims [6].