CTGO - Contango ORE down 25% prices $30M offering

2023-07-24 09:34:17 ET

Contango ORE ( NYSE: CTGO ) stock price dropped 25% on Monday, prices public offering of 1.6M shares at a public offering price of $19.00 per share.

Gross proceeds are expected to be $30.4M.

Underwriters a 30-day option to purchase up to an additional 240K shares.

Net proceeds will fund its contribution obligations to the Peak Gold JV for the Manh Choh project (a joint venture between Kinross 70% and Contango 30%), to continue exploration drilling for potential resource expansion at its Lucky Shot project, and to fund working capital requirements.

The offering is expected to close on or about July 26, 2023.

For further details see: