Carcetti Capital Raises $492 Million Ahead of Major Acquisition

Carcetti Capital Corp. announced a significant financing outcome, raising approximately $492 million. This includes a $437 million upsized bought deal and a concurrent non-brokered private placement of about $55 million. The funds are designated to support Carcetti’s acquisition of a 100% interest in the Hemlo Gold Mine from Barrick subsidiaries, a deal valued at $875 million in cash and shares.

The transaction aims for completion by October 7, 2025, pending customary approvals. Carcetti, transitioning to Hemlo Mining Corp., plans to list on TSX Venture Exchange as a Tier 1 mining issuer. A conversion to Hemlo Mining Corp. with consolidations and a new naming structure are anticipated. Regulators and shareholders have provided clearance for these structural changes.

Despite having backing from 69% of its shareholders, the deal's completion remains contingent on securing all required regulatory approvals and adequate financing. The transaction exemplifies a strategic move by Carcetti to expand its mining operations and solidify its position in the industry.