- Capitan Mining (CAPT) has closed a C$3.2 million private placement during which Michael Gentile increased his stake in the company
- Pursuant to the private placement, Capitan issued 16,000,000 common shares at $0.20 per share for gross proceeds of $3.2 million
- The company will use the proceeds to advance exploration and corporate development activities at its Peñoles Project
- On closing, Gentile will own 9,158,500 common shares representing 17.03 per cent of the company on a non-diluted basis
- Michael Gentile is an active investor in the mining space who owns significant top 5 stakes in over 10 small cap mining companies
- Capitan Mining is a junior exploration company focused on its 100-per-cent owned gold and silver Peñoles Project in Durango, Mexico
- Capitan Mining (CAPT) closed the day up 1.32 per cent trading at $0.385 per share
Capitan Mining (CAPT) has closed a C$3.2 million private placement during which Michael Gentile increased his stake in the company.
Pursuant to the private placement, Capitan issued 16,000,000 common shares at $0.20 per share for gross proceeds of $3.2 million.
The company will use the proceeds to advance exploration and corporate development activities at its 100-per-cent owned Peñoles Project in Durango, Mexico.
Prior to the announcement of the private placement, Gentile owned 258,500 Capitan common shares.
Between the announcement of the private placement and just prior to its closing, Gentile acquired additional shares through the TSXV.
Immediately prior to the end of the private placement, Gentile owned 1,158,500 common shares representing 3 per cent of the company on a non-diluted basis.
On closing of the transaction, Gentile will own 9,158,500 common shares representing 17.03 per cent of the company on a non-diluted basis.
Alberto Orozco, Capitan’s CEO, stated,
“We are pleased to welcome the strategic investment from Mr. Gentile along with the continued strong support of our existing shareholders. Results to date from the El Capitan gold oxide zone are very encouraging as we continue to identify opportunities to grow the mineralized envelope along strike and at depth.
This financing will allow us to continue advancing the Capitan gold oxide zone as well as other key gold and silver targets.”
From 2003 to 2018, Michael Gentile, CFA, worked as a professional money manager at Formula Growth, where he was an early-stage investor in mining and natural resource investments returning multiples on his investors’ money.
Subsequently, he has remained an active investor in the mining space owning significant top 5 stakes in over 10 small cap mining companies.
Capitan Mining is a junior exploration company focused on its 100-per-cent owned gold and silver Peñoles Project in Durango, Mexico.
Capitan Mining (CAPT) closed the day up 1.32 per cent trading at $0.385 per share.
