Northwire Canada EditionWednesday, October 28, 2026
Northwire
⌕
Gold 4,077.40 +0.1% Silver 54.55 +0.1% Copper 6.66 +0.1% Oil 99.88 −0.0% Palladium 1,035.75 +0.4% GBU 0.085 +13.3% GAMA 0.060 +0.0% QGR 0.190 +2.7% AVU 0.020 +0.0% GCN 0.025 +0.0% PML 1.37 +5.4% NVO 0.055 +0.0% OSM 0.030 +20.0% GSKR 2.72 +4.6% GPG 0.265 −1.9% UCU 1.95 +2.6% PPX 0.240 +4.3% SXL 0.055 +0.0% ONAU 0.540 +8.0% TMQ 3.15 +10.9% MOON 6.10 +9.9% Gold 4,077.40 +0.1% Silver 54.55 +0.1% Copper 6.66 +0.1% Oil 99.88 −0.0% Palladium 1,035.75 +0.4% GBU 0.085 +13.3% GAMA 0.060 +0.0% QGR 0.190 +2.7% AVU 0.020 +0.0% GCN 0.025 +0.0% PML 1.37 +5.4% NVO 0.055 +0.0% OSM 0.030 +20.0% GSKR 2.72 +4.6% GPG 0.265 −1.9% UCU 1.95 +2.6% PPX 0.240 +4.3% SXL 0.055 +0.0% ONAU 0.540 +8.0% TMQ 3.15 +10.9% MOON 6.10 +9.9%
Financings

Central Iron Ore increases financing to $317,998

CIO · Price

Executive Summary

  • Central Iron Ore Ltd. has upsized its non-brokered private placement financing due to investor demand, increasing the total units offered to 4,416,642.
  • The financing is priced at 7.2 cents per unit, generating gross proceeds of up to $317,998.22.
  • Proceeds are designated for the South Darlot joint venture, drilling at the British King mine, and general working capital.

Key Details

  • Transaction Structure: Non-brokered private placement.
  • Units Offered: Upsized to up to 4,416,642 units.
  • Price Per Unit: 7.2 cents.
  • Gross Proceeds: Up to $317,998.22.
  • Warrant Terms: Each unit includes one ordinary share purchase warrant.
    • Exercise Price: 12 cents per ordinary share.
    • Expiration Date: October 15, 2030.
  • Use of Proceeds:
    • Contribution to the company's South Darlot joint venture.
    • Drilling at the company's British King mine area.
    • Corporate and general working capital purposes.
  • Closing Conditions: Subject to receipt of all necessary corporate and regulatory approvals, including approval of the TSX Venture Exchange.
  • Hold Period: Four months plus a day from the date of issuance, subject to applicable securities legislation resale rules.

Notable Quotes

  • None provided in the text.
Read the original news release →

More from Central Iron Ore Limited