Contango ORE Commences Public Offering Of Shares Of Its Common Stock And Accompanying Warrants; No Terms Disclosed
Portfolio Pulse from Benzinga Newsdesk
Contango ORE has announced a public offering of its common stock and accompanying warrants. The proceeds will be used for general corporate purposes, including working capital and exploration projects. No terms of the offering have been disclosed.
June 10, 2024 | 8:06 pm
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Contango ORE has announced a public offering of its common stock and accompanying warrants. The proceeds will be used for general corporate purposes, including working capital and exploration projects. No terms of the offering have been disclosed.
The announcement of a public offering typically leads to a short-term decline in stock price due to dilution concerns. However, the use of proceeds for exploration projects could be seen as a positive long-term investment.
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