Shares sold at $10.00 apiece through agents Strata Capital, Strategas
By Devika Patel
Knoxville, Tenn., March 27 - Contango Ore Inc. sold $8.83 million of its common stock in a private placement on March 26, according to an 8-K filed Tuesday with the Securities and Exchange Commission. The offer priced March 22.
The company sold 882,500 shares at $10.00 apiece, which is a 3.66% discount to the March 21 closing share price of $10.38.
Strata Capital, Inc. and Strategas Securities, LLC were the agents.
Proceeds will be used for the 2012 exploration program in Alaska, to repay debt and for general corporate purposes.
The Houston-based company explores for gold, minerals and rare earth elements in Alaska.
| Issuer: | Contango Ore Inc.
|
| Issue: | Common stock
|
| Amount: | $8,825,000
|
| Shares: | 882,500
|
| Price: | $10.00
|
| Warrants: | No
|
| Agents: | Strata Capital, Inc. and Strategas Securities, LLC
|
| Pricing date: | March 22
|
| Settlement date: | March 26
|
| Stock symbol: | Pink Sheets: CTGO
|
| Stock price: | $10.38 at close March 21
|
| Market capitalization: | $15.78 million
|
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