Chesapeake Gold Announces $10 Million Public Offering

Chesapeake Gold Corp. has announced a $10 million bought deal public offering. Led by Red Cloud Securities, the offering includes 2,380,953 units at $4.20 per unit. Each unit consists of one common share and one-half common share purchase warrant. Warrants can be exercised at $5.65 within 36 months.

An over-allotment option allows underwriters to purchase an additional 15% of the units. Proceeds will advance Chesapeake's oxidative leach technology, Metates project, Lucy project, and general capital needs. A prospectus supplement will be filed in Canada following the February 2024 base shelf prospectus.

The offering excludes Quebec and complies with Canadian and U.S. securities laws. Chesapeake is seeking necessary regulatory approvals, with closing expected around January 27, 2026.