Carlin Gold Corporation (TSXV: CGD) (OTCQB: CGDCF) (FSE: YG20) has announced the closing of a brokered private placement that raised approximately C$9.8 million in gross proceeds. The company sold 7,519,231 units at C$1.30 per unit, with each unit comprising one common share and one warrant exercisable at C$1.50 through September 29, 2028. Proceeds are earmarked for exploration across Carlin's Nevada properties and general corporate purposes, making the raise a key funding event for investors tracking the company's exploration activity.

Key Points

  • Carlin Gold Corporation (TSXV: CGD) closed a brokered private placement on September 29, 2026
  • Gross proceeds of approximately C$9.8 million raised through 7,519,231 units priced at C$1.30 each
  • Warrants exercisable at C$1.50 per share until September 29, 2028; securities subject to a hold period expiring January 30, 2027
  • Investors may watch how net proceeds are deployed across the company's Nevada gold and copper-gold properties

Unit Structure and Canaccord Genuity's Role as Sole Bookrunner

Canaccord Genuity Corp. acted as sole bookrunner for the placement, including the exercise of an option that contributed to the final gross proceeds figure. In consideration for its services, the agent received a cash commission equal to 5% of gross proceeds and 451,153 non-transferable compensation warrants, each exercisable at C$1.50 per share until September 29, 2028. The compensation warrants and unit warrants are both subject to customary anti-dilution adjustments, including provisions tied to the company's previously announced spin-out, should that transaction be completed while the warrants remain outstanding.

Nevada Exploration Programmes to Receive Proceeds

Carlin Gold stated it intends to direct net proceeds toward exploration on its Nevada properties and general corporate purposes. The company holds three wholly-owned Nevada assets: the Cortez Summit gold project in the Cortez Gold District, the Ivy copper-gold project in the Contact Mining District, and the Willow gold exploration property in Elko County. The release does not specify how net proceeds will be allocated across these individual projects, nor does it provide exploration programme timelines or drill targets beyond the general intended use stated in the announcement.

Veteran Great Basin Geologist Pete Shabestari Joins Carlin's Board

Alongside the financing close, Carlin Gold announced that Pete Shabestari, CPG, has joined its board of directors, replacing Dong Shim, who will remain as CFO. Shabestari brings more than 30 years of exploration experience and has spent the past 15 years with Liberty Gold and its predecessor companies, currently serving as Vice President of Exploration at Liberty Gold Corp. The release states he has contributed to exploration programmes resulting in the discovery of more than 10 million ounces of gold, and holds a B.Sc. in Geology from the University of Utah.

Stock Options Granted Under Company Plan

Carlin Gold also disclosed the grant of an aggregate of 800,000 stock options to purchase 1,300,000 common shares, exercisable at C$1.53 per share for a period of five years from the date of grant, expiring September 29, 2031. The options were granted to eligible persons under the company's stock option plan. The immediate share price impact was not clear from available public information.