CTGO - Contago ORE announces private placement and provides operational update

Contango ORE (CTGO) completes the sale of 247,172 shares at a price of $13.25 per share in a private placement.Net proceeds of ~$3.2M from this sale to fund its proportionate share of the future exploration and development programs of Peak Gold and general corporate purposes. The company has no long-term debt and has a cash position of $5.5M after this private placement. CEO, Rick Van Nieuwenhuyse, participated in the capital raise for $1M, on the same terms and conditions as all other investors.The company has approved $1.6M budget for Peak Gold which covers project care and maintenance.

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Contago ORE announces private placement and provides operational update