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Centenario Gold Corp. ( (TSE:CTG) ) has provided an announcement.
Centenario Gold Corp. has received final TSX Venture Exchange approval for its option on the Cabot Project and has closed the second and final tranche of its previously announced financing, issuing 3,105,000 units at $0.10 each for gross proceeds of $310,500. The funds from this final tranche will support its obligations under the Cabot Project option, under which Centenario can earn a 70% interest by staged cash payments, share issuances, and exploration spending.
Certain directors and officers participated in the financing, which qualified as a related-party transaction but was exempt from formal valuation and minority approval requirements, and all securities from the tranche are subject to a statutory hold period. The company also granted 1,350,000 stock options to directors, officers, employees, and consultants at an exercise price of $0.30 for five years, aligning incentives as it advances the Cabot copper-gold-cobalt project, which hosts multiple mineralized zones and several untested, drill-ready targets in a growing mining district.
More about Centenario Gold Corp.
Centenario Gold Corp. is a Vancouver-based mineral exploration company focused on copper, gold, and cobalt assets. Its flagship interest is the Cabot Project on Newfoundland and Labrador’s Baie Verte Peninsula, a road-accessible property in a proven volcanogenic massive sulphide district near producing mines and established infrastructure.
Average Trading Volume: 18,150
Technical Sentiment Signal: Buy
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