VANCOUVER, BC — January 12, 2026 — Leads & Copy — Chesapeake Gold Corp. has entered into an agreement with Red Cloud Securities Inc., as lead underwriter and sole bookrunner on behalf of a syndicate of underwriters, for a bought deal offering of 2,380,953 units at $4.20 per unit, resulting in gross proceeds of $10,000,002.60.
Each unit will consist of one common share of Chesapeake and one-half of one common share purchase warrant. Each whole warrant will allow the holder to purchase one common share at $5.65 any time before 36 months following the closing date.
The company has granted the underwriters an option to purchase additional units equal to up to 15% of the number of units sold in the offering at the offering price to cover over-allotments and for market stabilization purposes. This option is exercisable within 30 days after the closing date.
Chesapeake intends to use the net proceeds from the offering to advance its proprietary oxidative leach technology, the Metates project, the Lucy project, and for general working capital.
The company plans to file a prospectus supplement to its short form base shelf prospectus dated February 23, 2024, with securities regulatory authorities in Canada (excluding Québec). The units may also be sold in the United States on a private placement basis, and in other jurisdictions outside of Canada and the United States, in accordance with applicable laws.
Copies of offering documents, when available, can be obtained free of charge under Chesapeake’s profile on SEDAR+ at www.sedarplus.ca. Delivery of the Base Shelf Prospectus and the Prospectus Supplement and any amendments thereto will be satisfied in accordance with the “access equals delivery” provisions of applicable Canadian securities legislation.
Prospective investors should read the Prospectus Supplement and the accompanying Base Shelf Prospectus and the other documents the Company has filed on SEDAR+ at www.sedarplus.ca before making an investment decision.
The offering is expected to close on or about January 27, 2026, subject to regulatory approvals, including approval from the TSX Venture Exchange and the execution of an underwriting agreement.
Chesapeake’s flagship asset is the Metates Project in Durango State, Mexico, which hosts one of the largest undeveloped gold-silver deposits in the Americas, with over 16.77 million ounces of gold and 423.2 million ounces of silver in the Measured and Indicated Mineral Resource category.
For more information, visit www.chesapeakegold.com or contact Jean-Paul Tsotsos at invest@chesapeakegold.com or +1 778 731 1362.
Jean-Paul Tsotsos, invest@chesapeakegold.com, +1 778 731 1362
Source: Chesapeake Gold Corp.
