Centenario Announces the Closing of Non-Brokered Private Placement
Centenario raises $1.5m at $0.10 to fund exploration at its Mexican and Newfoundland projects.
Centenario Gold Corp. has closed a non-brokered private placement of 15,000,000 units at $0.10 per unit, raising $1,500,000 in gross proceeds. Each unit consists of one common share and one-half non-transferable common share purchase warrant, exercisable at $0.15 per share for 24 months.
In conjunction with the financing, the company granted 2,925,000 incentive stock options at $0.11 per share and 1,000,000 restricted share units (RSUs) to directors, officers, employees, and consultants. The proceeds are designated for the exploration and evaluation of the Cabot project in Newfoundland and the Los Reyes project in Mexico, as well as for potential new resources and general and administrative expenses.
The company received a discretionary waiver from the Canadian Securities Exchange (CSE) regarding shareholder approval due to dilution levels. Securities carry a four-month exchange hold.
Centenario Gold Corp. (CTG) completed a capital raise that serves as a direct follow-up to its August 7, 2026 announcement, executing the transaction exactly as previously disclosed. The company priced the offering at $0.10 per share, a figure that aligns with the lower end of recent trading activity and represents a discount to the recent average, indicating management's assessment of the current market valuation.
The issuance includes 15 million new shares, plus 2.925 million options and 1 million RSUs, creating substantial dilution of approximately 20% or more on a fully diluted basis. Given the company's explicit going concern status and history of sequential financings, this transaction is a routine capital raise. It extends the cash runway but does not alter the fundamental exploration-stage risk profile or provide any immediate revenue catalyst.
Centenario Gold Corp. (CTG) is an exploration-stage company focused on copper, gold, and cobalt assets in North America. Its Cabot Project in Newfoundland hosts a VMS and stringer copper-gold-cobalt system with historic sampling returning up to 7% Cu and 70.38 g/t Au. Five drill-ready targets have been identified at the site, which is located near Firefly Metals' Ming mine.
The company’s Los Reyes Project in Mexico features a high-grade Cu-Au skarn system with a history of ASARCO mining. Recent sampling returned up to 27.9% Cu and anomalous Mo/Au, with a 1,500m drill program planned. Both projects are in early exploration phases with no defined resources or reserves.