Business
Contango Ore Announces $50 Million Underwritten Offering of Common Stock and Pre-funded Warrants
Contango ORE, Inc. ("Contango" or the "Company") (NYSE American: CTGO), is pleased to announce that it has priced its underwritten offering (the "Offering") of common stock (the "Shares") of the Company consisting of 1,678,206 Shares at an offering price of $24.96 per Share to two institutional investors.
About this update from Contango Silver & Gold Inc.
[{"type":"text","content":"FAIRBANKS, Ala., Feb. 11, 2026 /CNW/ - Contango ORE, Inc. (\"Contango\" or the \"Company\") (NYSE American: CTGO), is pleased to announce that it has priced its underwritten offering (the \"Offering\") of common stock (the \"Shares\") of the Company consisting of 1,678,206 Shares at an offering price of $24.96 per Share to two institutional investors. In the Offering, Contango also offered pre-funded warrants to purchase 325,000 Shares at a purchase price of $24.95 per Share (the \"Pre-funded Warrants\"), which equals the offering price per Share less the $0.01 exercise price per Share of each Pre-funded Warrant. Aggregate gross proceeds from the Offering will be approximately $50 million, before deducting underwriting discounts and commissions and other offering expenses, and excluding the exercise of the Pre-funded Warrants. All the Shares and Pre-funded Warrants in the Offering are to be sold by Contango. The closing of the Offering is expected to occur on or about February 12, 2026, subject to the satisfaction of customary closing conditions.Contango ORE, Inc. Logo (CNW Group/Contango Ore)The Company intends to use approximately $45,000,000 of the net proceeds to buy back gold hedge contracts and approximately $700,000 of the net proceeds to buy gold put contracts for downside protection. Any remaining proceeds will also be used for general corporate purposes, including working capital.Canaccord Genuity is acting as Sole Bookrunner for the Offering.The Offering is being made pursuant to an effective shelf registration statement on Form S-3 (File No. 333-283285) previously filed with the U.S. Securities and Exchange Commission (\"SEC\") and declared effective on November 27, 2024. The Shares and the Pre-funded Warrants may be offered only by means of a prospectus. A final prospectus supplement and the accompanying prospectus relating to and describing the terms of the Offering, which form a part of the effective registration statement, will be filed with the SEC and available on the SEC's website at www.sec.gov/edgar. When available, copies of the final prospectus supplement and accompanying prospectus relating to the Offering may also be obtained by contacting Canaccord Genuity LLC, Attention: Syndication Department, 1 Post Office Square, 30th Floor, Boston, MA 02109, or by email at [email protected] press release does...