Carcetti Capital Raises $542 Million in Private Placement for Hemlo Mine Acquisition

Carcetti Capital Corp. announced the completion of its brokered and non-brokered private placements, raising approximately $542 million. This financing supports their agreement to acquire a 100% interest in the Hemlo Gold Mine from Barrick Mining Corporation, involving a cash payment of $875 million and issuance of 34.6 million shares.

The brokered offering, led by Scotiabank, issued over 339 million subscription receipts, while the non-brokered offering issued nearly 39 million. Funds will support the Hemlo acquisition, with remaining proceeds used for working capital.

Carcetti has reactivated to the main board of the TSX Venture Exchange as a Tier 1 mining issuer. Shareholder and regulatory approvals are required before finalizing the transaction.