The Prospector News

Calibre and Marathon Announce Completion of Previously Announced C$40 Million Financing of Marathon

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Calibre and Marathon Announce Completion of Previously Announced C$40 Million Financing of Marathon

 

 

 

 

 

Calibre Mining Corp. (TSX: CXB) (OTCQX: CXBMF) and Marathon Gold Corporation (TSX: MOZ) are pleased to announce the closing of the previously announced C$40 million financing of Marathon. Pursuant to the Private Placement, Calibre acquired 66,666,667 common shares of Marathon at a price of C$0.60 per share for aggregate gross proceeds to Marathon of C$40 million.

 

As set out in the November 13, 2023 joint news release of the Parties, the Private Placement was completed in connection with the entering into by the Parties of a definitive arrangement agreement dated November 12, 2023 , whereby Calibre will acquire all of the issued and outstanding Marathon Shares pursuant to a court-approved plan of arrangement. Marathon intends to use the proceeds of the Private Placement solely to fund the development and construction of its Valentine gold project.

 

In connection with the Private Placement, Calibre and Marathon also entered into an investor rights agreement which contains certain investor rights granted by Marathon to Calibre, including, so long as Calibre holds 10% or more of the outstanding Marathon Shares: (a) registration rights and piggy back registration rights in favour of Calibre and the right for Calibre to nominate one director to the board of directors of Marathon, which rights are effective on the earlier to occur of: (i) the Arrangement Agreement being terminated in accordance with its terms; and (ii) 120 days following the closing of the Private Placement; and (b) equity and convertible debt participation rights to allow Calibre to maintain its pro rata interest.

 

Effective as of the closing of the Private Placement, Calibre owns 14.2% of the issued and outstanding Marathon Shares. Immediately prior to the closing of the Private Placement, Calibre did not own any Marathon Shares. Calibre’s acquisition of the Marathon Shares in the Private Placement is for investment purposes only. Calibre has filed an early warning report in respect of its increase in ownership of the common shares of Marathon, which report is available under Calibre’s profile on www.sedarplus.ca. For further information or to obtain a copy of the report, please contact Calibre as detailed below.

 

About Calibre Mining Corp.

 

Calibre is a Canadian-listed, Americas focused, growing mid-tier gold producer with a strong pipeline of development and exploration opportunities across Nevada and Washington in the USA, and Nicaragua. Calibre is focused on delivering sustainable value for shareholders, local communities and all stakeholders through responsible operations and a disciplined approach to growth. With a strong balance sheet, a proven management team, strong operating cash flow, accretive development projects and district-scale exploration opportunities Calibre will unlock significant value.

 

About Marathon

 

Marathon is a Toronto based gold company advancing its 100%-owned Valentine Gold Project located in the central region of Newfoundland & Labrador, one of the top mining jurisdictions in the world.

Posted November 15, 2023

Share this news article

MORE or "UNCATEGORIZED"


Fortuna intersects 1.9 g/t gold over 64 meters, confirming broad gold mineralization at Kabewest, Bambadji Project, Senegal

Fortuna Mining Corp. (NYSE: FSM) (TSX: FVI) is pleased to report encouraging first drilling results ... READ MORE

November 2, 2026

West Red Lake Gold Signs US$95 Million Credit Facility and Gold Offtake Agreement with Centalion

West Red Lake Gold Mines Ltd. (TSX-V: WRLG) (OTCQX: WRLGF) is pleased to announce that it has execut... READ MORE

November 2, 2026

C3 Metals Intersects 64.9 Metres at 3.45% Copper Equivalent, Including 23.3 Metres at 6.64% Copper Equivalent at its Khaleesi Project, Peru - Highest Grade Copper and Gold Mineralization Intersected to Date at Khaleesi

C3 Metals Inc. (TSX-V: CCCM) (OTCQB: CUAUF) is pleased to announce results of the highest-grade copp... READ MORE

November 2, 2026

1911 Gold Reports 14.86 g/t Gold over 7.20 Metres from Infill Drilling at True North

1911 Gold Corporation (TSX-V: AUMB) (OTCQX: AUMBF) (FRA: 2KY) is pleased to report assay results fro... READ MORE

November 2, 2026

Fredonia Confirms Continuity of Gold/Silver Mineralization and the Potential Expansion of the Conceptual EDM Mine Plan at Herradura Hill

Fredonia Mining Inc. (TSX-V: FRED) (OTC: FREDF) is pleased to announce new drilling results from its... READ MORE

November 2, 2026

Copyright 2026 The Prospector News