#United States #stock offering #Contango ORE #Fairbanks #Common Stock

Contango ORE Announces $50 Million Public Offering

Contango ORE, Inc. (NYSE American: CTGO), based in Fairbanks, Alaska, has officially announced the pricing details for its underwritten public offering. This strategic move aims to generate approximately $50 million, derived from the sale of 1,975,000 shares of its common stock, set at a public offering price of $20.00 per share. Additionally, the offer includes a pre-funded warrant for the purchase of 525,000 shares of common stock priced at $19.99 per share. The proceeds from this offering will primarily support the Company's varied mining initiatives, particularly the well-regarded Lucky Shot project.

Aiming for Strategic Advancements

The company is preparing to advance its fully permitted Lucky Shot project toward a production decision over the next two years. Specifically, Contango plans to enhance operations through comprehensive underground and surface-based drilling and development. The funds raised will also be allocated toward the Johnson Tract project, contingent on acquiring the necessary permits. Key activities will involve mobilizing essential machinery for road construction to the planned portal, ensuring the camp's suitability for year-round operations, and initiating the construction of an exploration tunnel. These efforts are crucial for achieving a feasibility-level mine plan, which the company aims to complete efficiently.

Contango's public offering is a significant step in its broader strategy to not only solidify its mining operations but to also enhance future growth through sound financial management. The expected closing date for this public offering is September 26, 2025, pending the fulfillment of standard closing conditions.

Guidance for Investors

The underwriters managing this public offering include Canaccord Genuity as the Sole Bookrunner, alongside Cormark Securities serving as the Lead Manager. Additional support will come from Maxim Group LLC, Roth Capital Partners, and Freedom Capital Markets as Co-Managers. All shares and associated warrants from this offering are expected to be sold directly by Contango ORE, emphasizing their commitment to transparency and investor engagement.

The public offering is being conducted under the active shelf registration statement on Form S-3, which was previously filed and accepted by the U.S. Securities and Exchange Commission (SEC). As part of this process, a preliminary prospectus supplement has been uploaded to the SEC's site, paving the way for potential investors to gain insight into the offering’s terms.

About Contango ORE, Inc.

Contango ORE operates primarily within the precious metals sector, focusing on gold and related minerals, particularly in Alaska. They hold key interests in various mining projects, including a 30% share in Peak Gold, LLC, which oversees an expansive lease for exploration across approximately 675,000 acres in the Manh Choh project. Additional projects include the Johnson Tract and Lucky Shot mines, along with significant claims for potential mineral development and exploitation.

For those interested in the details of this offering or further information about Contango ORE’s operations, updates can be accessed via the company’s official website. With the launch of this offering, Contango ORE positions itself to achieve new heights in the mining sector, reinforcing its commitment to sustainable and strategic exploration practices.