Mako Mining Corp. Closes $40.25M Bought Deal Common Share Offering

Strategic Insights -

Mako Mining Corp., a publicly listed gold mining company, has announced the completion of its previously announced bought deal common share offering and concurrent non-brokered private placement. The Company has issued 6,906,250 common shares, including the full over-allotment option, for gross proceeds of C$55,250,000.

The funds raised will be used to ramp up operations at the Moss Mine, construct the Company's development assets, and cover general working capital purposes. The securities issued under the offering have been listed on the TSX Venture Exchange.

Wexford Capital LP, a private investment fund, acquired ownership of 1,875,000 common shares in the non-brokered offering but saw its overall security holding in Mako decrease as a result of the issuance of additional shares.

Key Takeaways:

  • Mako Mining Corp. has completed its bought deal common share offering and concurrent non-brokered private placement, raising gross proceeds of C$55,250,000.
  • The Company will use the funds to ramp up operations at the Moss Mine, construct its development assets, and cover general working capital purposes.
  • Wexford Capital LP acquired ownership of 1,875,000 common shares in the non-brokered offering but saw its overall security holding in Mako decrease.
  • The offering was conducted under the listed issuer financing exemption under National Instrument 45-106.
  • The securities issued under the offering have been listed on the TSX Venture Exchange.
  • Wexford Capital LP is one of Mako's largest shareholders, holding approximately 46.10% of the Company's issued and outstanding shares.

Statistics:

  • C$40,250,000: gross proceeds from the bought deal common share offering
  • C$15,000,000: gross proceeds from the concurrent non-brokered private placement
  • 5,031,250: common shares issued under the bought deal common share offering
  • 1,875,000: common shares issued under the concurrent non-brokered private placement
  • 6,906,250: total number of common shares issued under both offerings
  • 46.10%: Wexford Capital LP's holding in Mako's issued and outstanding shares after the offering
  • 47.73%: Wexford Capital LP's holding in Mako's issued and outstanding shares prior to the offering

Sources:

  • Mako Mining Corp. Press Release, "Mako Mining Corp. closes $40.25M bought deal common share offering," ACCESS Newswire, October 28, 2025.
  • Mako Mining Corp. Profile, SEDAR+, www.sedarplus.ca.
  • Wexford Capital LP Profile, www.wexfordcapital.com.
  • National Instrument 45-106, "Prospectus Exemptions," Canadian Securities Administrators.