Carlin Gold raises $30M via two private placements

Carlin Gold Corporation (TSX.V: CGD, OTCQB: CGDCF) has announced two private placement agreements totaling up to $30 million, according to a company statement.

The Vancouver-based gold exploration company entered a non-brokered purchase agreement with Electrum Gold Exploration LLC for 16,538,462 units at $1.30 per unit, raising approximately $21.5 million. Separately, Carlin engaged Canaccord Genuity Corp. as agent for a brokered private placement of up to 6,538,462 units at the same price, raising up to approximately $8.5 million. Canaccord holds an option to sell an additional 980,769 units, which would generate roughly $1.275 million in additional proceeds.

Each unit consists of one common share and one warrant, with each warrant exercisable at $1.50 per share for two years following closing.

Proceeds from both transactions will be directed toward exploration on the company's Nevada properties and general corporate purposes.

Following the closing of the Strategic Investment, Electrum and its joint actors are expected to hold approximately 34.49% of outstanding common shares on a non-diluted basis and approximately 40.03% on a fully diluted basis, up from their current 8.1% stake. Electrum would be classified as a control person under TSX Venture Exchange policies, requiring shareholder approval, which Carlin intends to seek at its annual meeting scheduled for October 23, 2026.

Electrum would also receive the right to nominate one board director and participate in future securities issuances to maintain its ownership interest, provided it retains at least 10% of common shares.

Cal Everett, Chairman and Director of Carlin, said the investment "reflects strong confidence in Carlin's strategy and the exploration potential of Cortez Summit."

Closing of both placements remains subject to TSX Venture Exchange approval and other customary conditions. The two transactions are not conditional on each other.

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