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Contango Ore Prices $50 Million Underwritten Public Offering; Shares Down Pre-Bell
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Contango Ore Prices $50 Million Underwritten Public Offering; Shares Down Pre-Bell
Sep 25, 2025 6:10 AM

08:35 AM EDT, 09/25/2025 (MT Newswires) -- Contango Ore ( CTGO ) said Thursday that it has priced an underwritten public offering of shares and pre-funded warrants to raise $50 million in gross proceeds.

The company said it will sell two million shares at $20 each to two institutional investors.

Contango will also issue pre-funded warrants to buy 525,000 common shares for $19.99 each, exercisable at $0.01 per share.

The company said the proceeds from the offering, which is set to be completed on or about Friday, will be used primarily to fund its Lucky Shot and Johnson Tract projects.

Shares of the company were down 10% in recent Thursday premarket activity.

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