CTGO - Contango ORE announces $5.6M private placement
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Contango ORE ( NYSE: CTGO ) announced the issuance and sale of an aggregate of 283,500 shares for $20.00 per share the company’s common stock, par value $0.01 per share entitling each purchaser to purchase shares for $25.00 per share in a private placement.
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Net proceeds totaled ~$5.6M.
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The company will use the net proceeds from the private placement to fund its exploration and development program and for general corporate purposes.
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The company expects to complete a SK 1300 compliant technical report once a final Toll Milling Agreement between the Company and Kinross Fort Knox is signed.
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Contango ORE announces $5.6M private placement