Chesapeake Gold Increases Public Offering to $15 Million

Chesapeake Gold Corp. has announced an increase in its "bought deal" public offering from $10 million to $15 million due to strong investor demand. The offering, led by Red Cloud Securities Inc., will see the sale of 3,571,500 units at $4.20 per unit. Each unit comprises one common share and one-half of a share purchase warrant, exercisable at $5.65 within 36 months of the closing date.

The company is also pursuing a non-brokered private placement, potentially raising up to $2.87 million. Prominent investor Eric Sprott plans to participate in this offering, maintaining his percentage of ownership.

Proceeds from these offerings will advance Chesapeake's projects and proprietary leach technology. Final closing is subject to regulatory approvals, with completion expected by January 27, 2026.