Contango ORE (CTGO) Announces Proposed Share Offering

July 21, 2023 4:01 PM EDT

Contango ORE, Inc. (NYSE American: CTGO), today announced it has commenced an underwritten public offering (the “Offering”) of shares of its common stock. All of the shares of common stock in the Offering are to be sold by Contango. In addition, Contango intends to grant the underwriters in the Offering, a 30-day option to purchase up to an additional 15% of the shares of common stock offered in the Offering. The Offering is subject to market conditions, and there can be no assurance as to whether or when the Offering may be completed, or as to the actual size or terms of the Offering.

The Company intends to use the net proceeds from the Offering to fund its contribution obligations to the Peak Gold JV for the Manh Choh project, to continue exploration drilling for potential resource expansion at its Lucky Shot project, and to fund working capital requirements.

Maxim Group LLC and Freedom Capital Markets are acting as joint book-runners for the Offering.

The Offering is being made pursuant to an effective shelf registration statement on Form S-3 (File No. 333-260511) previously filed with the U.S. Securities and Exchange Commission (“SEC”) and declared effective on November 17, 2021. The shares may be offered only by means of a prospectus. A preliminary prospectus supplement (the “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 When available, copies of the Supplement and accompanying prospectus relating to the Offering may also be obtained by contacting Maxim Group LLC, at 300 Park Avenue, 16th Floor, New York, NY 10022, Attention: Prospectus Department, or by email at [email protected] or telephone at (212) 895-3745 or by contacting Freedom Capital Markets, at 40 Wall Street, 58th Floor, New York, NY 10005, or by email at [email protected] or telephone at (800) 786-1469.

This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

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