Contango Ore completes $5.6M private placement; Manh Choh on schedule for H2 2024 gold production

Pursuant to a Registration Rights Agreement dated as of December 23, 2022 (the “Registration Rights Agreement”), by and among the Company and the Investors, the Company agreed to file up to one registration statement with the Securities and Exchange Commission upon demand from Investors holding a majority of the Shares at any time after six months after the Private Placement, but no later than three years after the Private Placement, in order to register the resale of the shares of Common Stock.

On December 23, 2022 the Company completed the issuance and sale of an aggregate of 283,500 shares (the “Shares”) of the Company’s common stock, par value $0.01 per share (the “Common Stock”), for $20.00 per share, and warrants (the “Warrants”) entitling each purchaser to purchase shares of Common Stock for $25.00 per share (the “Warrant Shares” and together with the Common Stock and the Warrants, the “Securities”), in a private placement (the “Private Placement”) to certain accredited investors (the “Investors”) pursuant to Subscription Agreements (the “Subscription Agreements”), dated as of December 23, 2022 between the Company and each Investor.