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Centenario Gold Corp. ( (TSE:CTG) ) has provided an update.
Centenario Gold Corp. has closed the first tranche of its non-brokered private placement, raising approximately $1.19 million through the issuance of 11,895,000 units priced at $0.10, each comprising one share and half a warrant exercisable at $0.15. The proceeds will support general working capital, exploration at the Los Reyes copper-gold project in Mexico, and evaluation of potential new resource projects, while any funding of the Cabot Project awaits TSX Venture Exchange approval.
The company also paid cash finder’s fees and issued broker warrants to several investment dealers in connection with the financing, with all securities subject to a standard hold period. In parallel, Centenario amended its option agreement for the Cabot Project to cap PNL Ventures’ and related parties’ ownership below 9.99% unless specific TSXV disclosure requirements are met, aligning the deal structure with exchange rules and governance constraints ahead of a planned second tranche financing.
More about Centenario Gold Corp.
Centenario Gold Corp. is a Vancouver-based mineral exploration company listed on the TSX Venture Exchange under the symbol CTG. The company focuses on advancing copper and gold projects, including its recently acquired Los Reyes project in Chihuahua, Mexico, and is pursuing additional resource project acquisitions such as the Cabot Project option.
Average Trading Volume: 17,328
Technical Sentiment Signal: Buy
See more data about CTG stock on TipRanks’ Stock Analysis page.