Cameo Resources Inc. Raises $616,720 in Private Placement for Katoro Gold Property
News provided byCameo Resources Inc · 1 min read
September 2, 2026, Cameo Resources Inc., a mineral exploration company focused on the Katoro Gold Property in Tanzania, has successfully closed the first tranche of its non-brokered private placement. The company has accepted subscriptions for 4,124,800 units, raising a total of $616,720.
Each unit consists of one common share and one half of a share purchase warrant. The warrants are exercisable at $0.30 per share for a period of two years. Cameo retains the right to accelerate the expiration of the warrants if its shares trade at $0.45 or higher for 10 consecutive trading days, including days with no trading activity.
The securities issued in this closing are subject to a hold period that will end on January 3, 2027. The funds raised will be allocated to drilling, marketing, and general working capital to further develop the Katoro Gold Property.
The Katoro property, spanning 19.58 km², is located within the Sukumaland greenstone belt, part of the Lake Victoria goldfield in Tanzania. This region is considered one of the most important mining sites in Africa, known for its multimillion-ounce gold deposits and ongoing operations by major international gold companies. The property has not been explored using modern techniques until now, making it a promising area for potential discoveries.
Mr. Brent Strasler, Chief Executive Officer and Director of Cameo Resources Inc., expressed, "We are pleased with the strong response to this private placement, which will significantly bolster our efforts to advance the Katoro Gold Property. Our focus remains on identifying valuable mineral deposits and ensuring the sustainable development of our projects."
The company is committed to exploring and developing the Katoro Gold Property, leveraging the recent capital injection to enhance its drilling and marketing strategies. Cameo’s dedication to mineral exploration in Africa underscores its ongoing efforts to contribute to the region’s mining sector.