Contango Silver & Gold Inc. (CTGO): debt financing — Contango Silver & Gold acquires Lucky Shot for $16.1M; reports high-grade gold intercepts

Contango Silver & Gold Inc.

Acquired Lucky Shot project for $16.074M: $300K deposit, $1.71M cash at signing, $4.06M at closing, $10M promissory note at 5% interest.
Eliminated 2% NSR royalty by acquiring lease and royalty from Alaska Hardrock Inc.
Drill highlights: LSU26064 returned 2.89m @ 16.06 g/t Au incl. 0.50m @ 74.20 g/t Au (CK Vein), LSU26063: 1.15m @ 16.47 g/t Au (L2 Vein).
Planned 800m underground development to start mid-May 2026 for further drilling; feasibility study targeted H1 2027.
CEO stated acquisition 'restores full value and control' and 'enhances project economics'.

item 1.01 item 1.02 item 2.03 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Contango Silver & Gold Inc. incurred loan of $10 million with Alaska Hardrock Inc. at 5%, compounded monthly maturing fourth anniversary of the Closing Date, or May 4, 2030.

Instrument: loan
Principal: $10 million
Counterparty: Alaska Hardrock Inc.
Rate: 5%, compounded monthly
Maturity: fourth anniversary of the Closing Date, or May 4, 2030
Event: incurrence

Exact text from the filing

On May 4, 2026, Contango Lucky Shot Alaska, LLC (“LSA”), a wholly-owned subsidiary of Contango Silver & Gold Inc. (“Contango” or the “Company”), entered into a purchase and sale agreement (the “Purchase Agreement”) and executed a promissory note (the “Promissory Note”) with Alaska Hardrock Inc. (“AHI”)

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.7

Contango Silver & Gold Inc. terminated Lease Agreement with Alaska Hardrock Inc. (effective 2026-05-04).

Action: termination
Agreement: lease
Counterparty: Alaska Hardrock Inc.
Effective: 2026-05-04

Exact text from the filing

(“Contango” or the “Company”), entered into a purchase and sale agreement (the “Purchase Agreement”) and executed a promissory note (the “Promissory Note”) with Alaska Hardrock Inc. (“AHI”) to acquire 100% ownership of the Company’s Lucky Shot project, located in the Willow Mining District about 75 miles north of Anchorage, Alaska (“Lucky Shot”).

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Contango Silver & Gold Inc. entered into Purchase Agreement with Alaska Hardrock Inc. valued at $16,074,000 (effective 2026-05-04).

Action: entry
Agreement: asset purchase
Counterparty: Alaska Hardrock Inc.
Value: $16,074,000
Effective: 2026-05-04

Exact text from the filing

On May 4, 2026, Contango Lucky Shot Alaska, LLC (“LSA”), a wholly-owned subsidiary of Contango Silver & Gold Inc. (“Contango” or the “Company”), entered into a purchase and sale agreement (the “Purchase Agreement”) and executed a promissory note (the “Promissory Note”) with Alaska Hardrock Inc. (“AHI”) to acquire 100% ownership of the Company’s Lucky Shot project

View on SEC.gov

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Contango Silver & Gold Inc. filing history →

Source: SEC EDGAR

accession 0001193125-26-214743

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