<SEC-DOCUMENT>0001157523-21-001159.txt : 20210922
<SEC-HEADER>0001157523-21-001159.hdr.sgml : 20210922
<ACCEPTANCE-DATETIME>20210922151804
ACCESSION NUMBER:		0001157523-21-001159
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20210922
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Material Modifications to Rights of Security Holders
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20210922
DATE AS OF CHANGE:		20210922

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Contango ORE, Inc.
		CENTRAL INDEX KEY:			0001502377
		STANDARD INDUSTRIAL CLASSIFICATION:	GOLD & SILVER ORES [1040]
		IRS NUMBER:				273431051
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-35770
		FILM NUMBER:		211269447

	BUSINESS ADDRESS:	
		STREET 1:		3700 BUFFALO SPEEDWAY
		STREET 2:		STE 925
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77098
		BUSINESS PHONE:		713-877-1311

	MAIL ADDRESS:	
		STREET 1:		3700 BUFFALO SPEEDWAY
		STREET 2:		STE 925
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77098
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a52495561.htm
<DESCRIPTION>CONTANGO ORE, INC. 8-K
<TEXT>
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    <div style="text-align: center; font-family: 'Times New Roman', serif; font-size: 12pt; font-weight: bold;">UNITED STATES</div>
    <div style="text-align: center; font-family: 'Times New Roman', serif; font-size: 12pt; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</div>
    <div style="text-align: center; font-family: 'Times New Roman', serif; font-size: 12pt; font-weight: bold;">WASHINGTON, D.C. 20549</div>
    <div style="text-align: center; font-family: 'Times New Roman',serif; font-size: 12pt;">________________</div>
    <div style="text-align: center;"><br>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman',serif; font-size: 14pt; font-weight: bold;">FORM 8-K</div>
    <div><br>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman', serif; font-size: 12pt; font-weight: bold;">CURRENT REPORT</div>
    <div style="text-align: center; font-family: 'Times New Roman', serif; font-size: 12pt; font-weight: bold;">PURSUANT TO SECTION 13 OR 15(d) OF THE</div>
    <div style="text-align: center; font-family: 'Times New Roman', serif; font-size: 12pt; font-weight: bold;">SECURITIES EXCHANGE ACT OF 1934</div>
    <div><br>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman',serif;">Date of Report (Date of earliest event reported):<font style="font-weight: bold;">&#160; &#160; September 22, 2021</font></div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman',serif; font-size: 12pt; font-weight: bold;">CONTANGO ORE, INC.</div>
    <div style="text-align: center; font-family: 'Times New Roman',serif; font-size: 8pt;">(Exact name of Registrant as specified in its charter)</div>
    <div><br>
    </div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zee7a0a7551044a88868e53b7b6943466">

        <tr>
          <td rowspan="1" style="width: 33%; vertical-align: top; text-align: center; font-weight: bold;">Delaware</td>
          <td rowspan="1" style="width: 34%; vertical-align: top; text-align: center; font-weight: bold;">001-35770</td>
          <td rowspan="1" style="width: 33%; vertical-align: top; text-align: center; font-weight: bold;">27-3431051 <br>
          </td>
        </tr>
        <tr>
          <td style="width: 33%; vertical-align: top;">
            <div style="text-align: center; font-family: 'Times New Roman', serif; font-size: 8pt;">(State or other jurisdiction of</div>
            <div style="text-align: center; font-family: 'Times New Roman', serif; font-size: 8pt;">incorporation or organization)</div>
          </td>
          <td style="width: 34%; vertical-align: top;">
            <div style="text-align: center; font-family: 'Times New Roman', serif; font-size: 8pt;">(Commission</div>
            <div style="text-align: center; font-family: 'Times New Roman', serif; font-size: 8pt;">File Number)</div>
          </td>
          <td style="width: 33%; vertical-align: top;">
            <div style="text-align: center; font-family: 'Times New Roman', serif; font-size: 8pt;">(I.R.S. Employer</div>
            <div style="text-align: center; font-family: 'Times New Roman', serif; font-size: 8pt;">Identification No.)</div>
          </td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 33%; vertical-align: top; text-align: center; font-weight: bold;">&#160;</td>
          <td rowspan="1" style="width: 34%; vertical-align: top; font-weight: bold;">&#160;</td>
          <td rowspan="1" style="width: 33%; vertical-align: top; text-align: center; font-weight: bold;">&#160;</td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 33%; vertical-align: top; text-align: center; font-weight: bold;">&#160;</td>
          <td rowspan="1" style="width: 34%; vertical-align: top; font-weight: bold;">&#160;</td>
          <td rowspan="1" style="width: 33%; vertical-align: top; text-align: center; font-weight: bold;">&#160;</td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 33%; vertical-align: top; text-align: center; font-weight: bold;">&#160;</td>
          <td rowspan="1" style="width: 34%; vertical-align: top; font-weight: bold;">&#160;</td>
          <td rowspan="1" style="width: 33%; vertical-align: top; text-align: center; font-weight: bold;">&#160;</td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 33%; vertical-align: top; text-align: center; font-weight: bold;">3700 Buffalo Speedway, Suite 925<br>
            Houston, Texas</td>
          <td rowspan="1" style="width: 34%; vertical-align: top; font-weight: bold;">&#160;</td>
          <td rowspan="1" style="width: 33%; vertical-align: bottom; text-align: center; font-weight: bold;">77098</td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 33%; vertical-align: top; text-align: center; font-size: 8pt;">(Address of principal executive offices)</td>
          <td rowspan="1" style="width: 34%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 33%; vertical-align: top; text-align: center; font-size: 8pt;">(Zip Code)</td>
        </tr>

    </table>
    <div style="text-align: justify; font-family: 'Times New Roman',serif; font-size: 9pt;"> <br>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman',serif;">Registrant&#8217;s Telephone Number, including area code:&#160; <font style="font-weight: bold;">(713) 877-1311</font></div>
    <div style="text-align: center; font-family: 'Times New Roman',serif;"> <br>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman',serif;">Not Applicable<br>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman',serif; font-size: 8pt;">(Former name, former address and former fiscal year, if changed since last report)</div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="text-align: justify; font-family: 'Times New Roman', serif;">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see
      General Instruction A.2.):</div>
    <div><br>
    </div>
    <div style="text-align: justify; font-family: 'Times New Roman', serif;">&#9744;&#160;&#160; Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</div>
    <div><br>
    </div>
    <div style="text-align: justify; font-family: 'Times New Roman', serif;">&#9744;&#160;&#160; Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</div>
    <div><br>
    </div>
    <div style="text-align: justify; font-family: 'Times New Roman', serif;">&#9744;&#160;&#160; Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</div>
    <div><br>
    </div>
    <div style="font-family: 'Times New Roman', serif;">&#9744;&#160;&#160; Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</div>
    <div><br>
    </div>
    <div style="font-family: 'Times New Roman', serif;">Securities registered pursuant to Section 12(b) of the Act:</div>
    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z9dc1b718e7894e2d85b0b8d512e2d3e3">

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          <td style="width: 37.3%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-family: 'Times New Roman', serif; font-size: 9.5pt; font-weight: bold;">Title of each class</div>
          </td>
          <td style="width: 25.17%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-family: 'Times New Roman', serif; font-size: 9.5pt; font-weight: bold;">Trading Symbol(s)</div>
          </td>
          <td style="width: 37.53%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-family: 'Times New Roman', serif; font-size: 9.5pt; font-weight: bold;">Name of each exchange on which registered</div>
          </td>
        </tr>
        <tr>
          <td style="width: 37.3%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-family: 'Times New Roman', serif; font-size: 9.5pt;">Common Stock, Par Value $0.01 per share</div>
          </td>
          <td style="width: 25.17%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-family: 'Times New Roman', serif; font-size: 9.5pt;">CTGO</div>
          </td>
          <td style="width: 37.53%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-family: 'Times New Roman', serif; font-size: 9.5pt;">OTCQB</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div>
      <div style="font-family: 'Times New Roman', serif;">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;&#160;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange
        Act of 1934 (&#167;&#160;240.12b-2 of this chapter).</div>
    </div>
    <div>
      <div><br>
      </div>
      <div style="font-family: 'Times New Roman', serif;">Emerging growth company&#160;&#160;<font style="font-family: 'MS Mincho', 'MS Mincho', monospace;">&#9744;</font></div>
      <div>&#160;</div>
      <div style="font-family: 'Times New Roman', serif;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards
        provided pursuant to Section 13(a) of the Exchange Act.&#160;&#160;<font style="font-family: 'MS Mincho', 'MS Mincho', monospace;">&#9744;</font></div>
      <div>&#160;</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
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    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zc3173d94140449e2a49672f76d52bddc">

        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div style="font-family: 'Times New Roman', serif; font-weight: bold;">Item 1.01.</div>
          </td>
          <td style="width: 90%; vertical-align: top;">
            <div style="font-family: 'Times New Roman', serif; font-weight: bold;">Entry into a Material Definitive Agreement.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', serif;">On September 21, 2021, the Board of Directors of Contango ORE, Inc. (the &#8220;Company&#8221;) approved an amendment (the &#8220;Amendment&#8221;) to the Company&#8217;s Rights Agreement
      dated as of September 23, 2020, between the Company and Computershare Trust Company, N.A., as Rights Agent (as amended, the &#8220;Rights Plan&#8221;).</div>
    <div style="text-align: justify;"><font style="font-family: 'Times New Roman', serif;"> </font><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', serif;">The Amendment extends the Rights Plan by an additional year to September 22, 2022.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', serif;">The&#160;Rights&#160;Agreement&#160;is attached hereto as Exhibit 4.1 and is incorporated herein by reference. The description of the&#160;Amendment&#160;herein does not purport to be
      complete and is qualified in its entirety by reference to Exhibit&#160;4.1.</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="za9c5b6f054e04279b7f5ac7da6a4741a">

        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div style="font-family: 'Times New Roman', serif; font-weight: bold;">Item 3.03.</div>
          </td>
          <td style="width: 90%; vertical-align: top;">
            <div style="font-family: 'Times New Roman', serif; font-weight: bold;">Material Modification to Rights of Security Holders.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-indent: 36pt; font-family: 'Times New Roman', serif;">The information provided in Item 1.01 hereto is incorporated by reference into this Item 3.03.</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z249e5392ef6a4b19a5cfeb3efb4f77a5">

        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div style="font-family: 'Times New Roman', serif; font-weight: bold;">Item 9.01.</div>
          </td>
          <td style="width: 90%; vertical-align: top;">
            <div style="font-family: 'Times New Roman', serif; font-weight: bold;">Financial Statements and Exhibits.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="font-family: 'Times New Roman', serif;">(d) Exhibits.</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z25d67bfd47c84775b3f7fc17248ec6ad">

        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div style="font-family: 'Times New Roman', serif; font-weight: bold;"><u>Exhibit No.</u></div>
          </td>
          <td style="width: 90%; vertical-align: top;">
            <div style="text-align: center; font-family: 'Times New Roman', serif; font-weight: bold;"><u>Description of Exhibit</u></div>
          </td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 10%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 90%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div style="font-family: 'Times New Roman', serif;"><a href="a52495561ex4_1.htm">4.1</a></div>
          </td>
          <td style="width: 90%; vertical-align: top;">
            <div style="font-family: 'Times New Roman', serif;"><a href="a52495561ex4_1.htm">Amendment No. 1 to Rights Agreement, dated as of September 22, 2021,
                between Contango ORE, Inc. and Computershare Trust Company, N.A., as Rights Agent</a>.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
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    <div><br>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman', serif; font-weight: bold;">SIGNATURE</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; font-family: 'Times New Roman', serif;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly
      authorized.</div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z7a9ec1e74512457c9bfdfe26c6dd4a95">

          <tr>
            <td style="width: 49.91%; vertical-align: top;">&#160;</td>
            <td style="width: 49.91%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', serif; font-weight: bold;">CONTANGO ORE, INC.</div>
            </td>
          </tr>
          <tr>
            <td style="width: 49.91%; vertical-align: top;">&#160;</td>
            <td style="width: 49.91%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 49.91%; vertical-align: top;">&#160;</td>
            <td style="width: 49.91%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', serif;">By: <u>/s/ Leah Gaines</u></div>
            </td>
          </tr>
          <tr>
            <td style="width: 49.91%; vertical-align: top;">&#160;</td>
            <td style="width: 49.91%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', serif;">Leah Gaines</div>
            </td>
          </tr>
          <tr>
            <td style="width: 49.91%; vertical-align: top;">&#160;</td>
            <td style="width: 49.91%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', serif;">Vice President, Chief Financial Officer, Chief Accounting</div>
            </td>
          </tr>
          <tr>
            <td style="width: 49.91%; vertical-align: top;">&#160;</td>
            <td style="width: 49.91%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', serif;">Officer, Treasurer and Secretary</div>
            </td>
          </tr>

      </table>
    </div>
    <br>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="font-family: 'Times New Roman', serif;">Dated: September 22, 2021</div>
    <div><br>
    </div>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.1
<SEQUENCE>2
<FILENAME>a52495561ex4_1.htm
<DESCRIPTION>EXHIBIT 4.1
<TEXT>
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  <div style="text-align: right;"><font style="font-weight: bold;">Exhibit 4.1</font><br>
  </div>
  <div> <br>
  </div>
  <div>
    <div style="font-family: 'Times New Roman',Times,serif;">
      <div style="text-align: center; font-weight: bold;">AMENDMENT NO. 1</div>
      <div style="text-align: center; font-size: 12pt; font-weight: bold;"><font style="font-size: 10pt;"><br>
        </font><font style="font-size: 10pt;">TO</font></div>
      <div style="text-align: center; font-size: 12pt; font-weight: bold;"><font style="font-size: 10pt;"><br>
        </font><font style="font-size: 10pt;">RIGHTS AGREEMENT</font></div>
    </div>
    <div style="font-family: 'Times New Roman',Times,serif;">
      <div>&#160;</div>
    </div>
    <div style="font-family: 'Times New Roman',Times,serif;">
      <div style="text-align: justify; text-indent: 36pt;">This Amendment No. 1 (this &#8220;<u>Amendment</u>&#8221;) to the Rights Agreement is made and entered into as of September 22, 2021, by and between Contango ORE, Inc., a Delaware corporation (the &#8220;<u>Company</u>&#8221;),

        and Computershare Trust Company, N.A., as Rights Agent (the &#8220;<u>Rights Agent</u>&#8221;).</div>
    </div>
    <div style="font-family: 'Times New Roman',Times,serif;">
      <div>&#160;</div>
    </div>
    <div style="font-family: 'Times New Roman',Times,serif;">
      <div style="text-align: center; font-weight: bold;">RECITALS:</div>
    </div>
    <div style="font-family: 'Times New Roman',Times,serif;">
      <div>&#160;</div>
    </div>
    <div style="font-family: 'Times New Roman',Times,serif;">
      <div style="text-align: justify; text-indent: 36pt;">WHEREAS, the Company and the Rights Agent have entered into that certain Rights Agreement, dated as of September 23, 2020 (the &#8220;<u>Rights Agreement</u>&#8221;);</div>
    </div>
    <div style="font-family: 'Times New Roman',Times,serif;">
      <div>&#160;</div>
    </div>
    <div style="font-family: 'Times New Roman',Times,serif;">
      <div style="text-align: justify; text-indent: 36pt;">WHEREAS, pursuant to&#160;<u>Section 28</u>&#160;of the Rights Agreement, the Company may supplement or amend any provision of the Rights Agreement in any respect in accordance with the provisions of such
        section; and</div>
    </div>
    <div style="font-family: 'Times New Roman',Times,serif;">
      <div>&#160;</div>
    </div>
    <div style="font-family: 'Times New Roman',Times,serif;">
      <div style="text-align: justify; text-indent: 36pt;">WHEREAS, pursuant to the terms of the Rights Agreement and in accordance with&#160;<u>Section 28</u>&#160;thereof, the Company has directed that the Rights Agreement be amended as set forth in this
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      <div>&#160;</div>
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      <div style="text-align: center; font-weight: bold;">AGREEMENT:</div>
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    <div style="font-family: 'Times New Roman',Times,serif;">
      <div>&#160;</div>
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      <div style="text-align: justify; text-indent: 36pt;">NOW, THEREFORE, in consideration of the Recitals, the mutual covenants and agreements contained in this Amendment, and other good and valuable consideration, the receipt and sufficiency of which
        are hereby acknowledged, the parties hereto agree to amend the Rights Agreement as follows:</div>
    </div>
    <div>
      <div style="font-family: 'Times New Roman',Times,serif;">&#160;</div>
    </div>
    <div>
      <div style="text-indent: 36pt; font-family: 'Times New Roman', serif; font-size: 12pt;"><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-weight: bold;">1.</font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-weight: bold;"><u>Amendment</u></font><font style="font-weight: bold;">.&#160;</font><u>Section 7(a)</u>&#160;of the Rights Agreement is amended by deleting &#8220;September 22, 2021&#8221; where it appears and replacing
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      <div style="text-indent: 36pt; font-family: 'Times New Roman', serif; font-size: 12pt;"><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-weight: bold;">2.</font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-weight: bold;"><u>No Further Amendments</u></font>.&#160; Except as expressly provided in this Amendment, all of the terms, covenants, agreements and conditions of the Rights Agreement shall remain in
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    <div>
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      <div style="text-indent: 36pt; font-family: 'Times New Roman', serif; font-size: 12pt;"><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-weight: bold;">3.</font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-weight: bold;"><u>Counterparts</u></font>.&#160; This Amendment may be signed in counterparts, each of which shall be an original and all of which together shall constitute one and the same instrument. A
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      <div style="font-family: 'Times New Roman',Times,serif;">&#160;</div>
      <div style="text-indent: 36pt; font-family: 'Times New Roman', serif; font-size: 12pt;"><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-weight: bold;">4.</font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-weight: bold;"><u>Governing Law</u></font>.&#160; This Amendment shall be governed by and construed in accordance with the internal laws of the State of Delaware, without giving effect to any choice or
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      <div style="text-indent: 36pt; font-family: 'Times New Roman', serif; font-size: 12pt;"><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-weight: bold;">5.</font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-weight: bold;"><u>Entire Agreement</u></font>.&#160; The Rights Agreement as amended by this Amendment contains the entire agreement of the parties hereto with respect to the subject matter hereof and
          supersedes and is in full substitution for any and all prior oral or written agreements and understandings between them related to such subject matter, and neither party hereto shall be liable or bound to the other party hereto in any manner with
          respect to such subject matter by any covenants or agreements except as specifically set forth in the Rights Agreement as amended by this Amendment.</font></div>
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      <div style="font-family: 'Times New Roman',Times,serif;"><br>
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      <div style="text-indent: 36pt; font-family: 'Times New Roman', serif; font-size: 12pt;"><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-weight: bold;">6.</font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-weight: bold;"><u>Effective Date; Certification</u></font>. Upon the execution and delivery of a counterpart hereof by each of the parties hereto this Amendment shall be deemed effective as of the
          date first written above (the &#8220;<u>Amendment Effective Date</u>&#8221;), as if executed on such date.&#160; The officer of the Company executing this Amendment hereby certifies to the Rights Agent that each of the amendments to the Rights Agreement set forth
          in this Amendment is in compliance with the terms of&#160;<u>Section 28</u>&#160;of the Rights Agreement and the certification contained in this&#160;<u>Section&#160;6</u>&#160;shall constitute the certification required by&#160;<u>Section 28</u>&#160;of the Rights Agreement.</font></div>
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      <div style="font-family: 'Times New Roman',Times,serif;"> <br>
      </div>
      <div style="font-family: 'Times New Roman',Times,serif;"> <br>
      </div>
      <div style="font-family: 'Times New Roman',Times,serif;"> <br>
      </div>
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      <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman',Times,serif;">IN WITNESS WHEREOF, the parties have executed this Amendment as of the date first written above.</div>
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      <div style="font-family: 'Times New Roman',Times,serif;">&#160;
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                <div style="text-align: justify;"><font style="font-family: 'Times New Roman',Times,serif; font-weight: bold;">CONTANGO ORE, INC.</font></div>
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            <tr>
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                <div>&#160;</div>
              </td>
              <td style="width: 4%;">
                <div>&#160;</div>
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              <td style="width: 46%;">
                <div>&#160;</div>
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                <div>&#160;</div>
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              <td style="width: 4%;">
                <div>&#160;</div>
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              <td style="width: 46%;">
                <div>&#160;</div>
              </td>
            </tr>
            <tr>
              <td style="width: 50%;">
                <div>&#160;</div>
              </td>
              <td style="width: 4%;">
                <div>&#160;</div>
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              <td style="width: 46%;">
                <div>&#160;</div>
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                <div>By:<br>
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                <div>&#160;</div>
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            <tr>
              <td style="width: 50%;">
                <div>&#160;</div>
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              <td style="width: 4%;">
                <div>Title: <br>
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              <td style="width: 46%;">VP and CFO<br>
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            <tr>
              <td style="width: 50%;">
                <div>&#160;</div>
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              <td style="width: 4%;">
                <div>&#160;</div>
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                <div>&#160;</div>
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              <td rowspan="1" style="width: 50%;">&#160;</td>
              <td rowspan="1" style="width: 4%;">&#160;</td>
              <td rowspan="1" style="width: 46%;">&#160;</td>
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            <tr>
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              <td colspan="2" rowspan="1"><font style="font-weight: bold;">COMPUTERSHARE TRUST COMPANY, N.A.</font> <br>
              </td>
            </tr>
            <tr>
              <td rowspan="1" style="width: 50%;">&#160;</td>
              <td rowspan="1" style="width: 4%;">&#160;</td>
              <td rowspan="1" style="width: 46%;">&#160;</td>
            </tr>
            <tr>
              <td rowspan="1" style="width: 50%;">&#160;</td>
              <td rowspan="1" style="width: 4%;">&#160;</td>
              <td rowspan="1" style="width: 46%;">&#160;</td>
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              <td rowspan="1" style="width: 50%;">&#160;</td>
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              <td rowspan="1" style="width: 46%;">&#160;</td>
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            <tr>
              <td style="width: 50%; padding-bottom: 2px;">
                <div>&#160;</div>
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              <td style="width: 4%; padding-bottom: 2px;">
                <div>By: <br>
                </div>
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              <td style="width: 46%; border-bottom: 2px solid rgb(0, 0, 0);">/s/ Kathy Heagerty<br>
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            </tr>
            <tr>
              <td rowspan="1" style="width: 50%;">&#160;</td>
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            <tr>
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              <td rowspan="1" style="width: 46%;">Manager, Client Management<br>
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            </tr>

        </table>
        <div>
          <div><br>
          </div>
          <div><br>
          </div>
          <div>
            <div style="text-align: center; font-family: 'Times New Roman', serif; font-variant: small-caps;">Signature Page to</div>
            <div style="text-align: center; font-family: 'Times New Roman', serif; font-variant: small-caps;">Amendment No. 1 to</div>
            <div style="text-align: center; font-family: 'Times New Roman', serif; font-variant: small-caps;">Rights Agreement</div>
          </div>
        </div>
      </div>
    </div>
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