Carlin Gold Corporation has entered into a purchase agreement with Electrum Gold Exploration LLC for a $21.5 million strategic investment, alongside a brokered private placement to raise up to $8.5 million with Canaccord Genuity Corp.

The financing packages involve units priced at $1.30 each. Each unit consists of one common share and a warrant to acquire an additional share at $1.50 for a two-year period following closing. Canaccord Genuity also holds an option to sell up to 980,769 additional units for gross proceeds of approximately $1.28 million.

The strategic placement will see Electrum acquire 16,538,462 units, lifting its holdings to approximately 34.49% of the outstanding common shares on a non-diluted basis, or about 40.03% on a fully-diluted basis. Electrum will become a control person of Carlin upon completion and will gain the right to nominate one director to the board, alongside participation rights to maintain its ownership interest, provided it holds at least 10% of the common shares.

Completion of the strategic investment requires approval from the TSX Venture Exchange and Carlin shareholders. The company intends to put the matter to a vote at its annual meeting scheduled for October 23, 2026. The strategic and brokered placements are not conditional on each other.

Carlin will allocate the net proceeds toward exploration across its Nevada holdings and for general corporate purposes. The company's Cortez Summit property covers 11 square kilometres and is contiguous with Barrick Mining Corporation and Nevada Gold Mines on all sides, sitting approximately one kilometre east of the Fourmile resource boundary. Carlin also plans to complete the spin-out of a 5.00% net smelter return royalty on Cortez Summit into a wholly-owned subsidiary named SpinCo during 2026.

“We are thrilled that Electrum has committed to making this significant strategic investment in Carlin,” said Cal Everett, Chairman and Director of the Company. “This investment reflects strong confidence in Carlin’s strategy and the exploration potential of Cortez Summit, and will provide us with the financial flexibility to pursue an aggressive drilling program at Cortez Summit.” — Cal Everett, Chairman and Director

Read the full announcement: Carlin Gold Announces $21.5 Million Strategic Investment by Electrum Gold Exploration and $8.5 Million Private Placement with Canaccord Genuity