Carcetti Capital Acquires Hemlo Gold Mine, Rebrands as Hemlo Mining Corp.

Carcetti Capital Corp. has finalized its acquisition of the Hemlo Gold Mine, Ontario, from Barrick Mining. This reverse takeover marks Carcetti's transformation into Hemlo Mining Corp., with shares commencing on the TSX Venture Exchange as "HMMC" on December 2, 2025. The move establishes Hemlo as a mid-tier Canadian gold producer.

The transaction involved a total payment of $875 million and the issuance of 34.5 million shares to Barrick. Additional contingent payments up to $165 million are linked to future gold prices. To finance the acquisition, Carcetti raised $1 billion through a mix of precious metals purchase agreements, credit facilities, and private placements.

The new company plans to utilize its seasoned management team and available infrastructure to optimize Hemlo's operations. Hemlo Mining is committed to working with local First Nations communities and leveraging existing infrastructure for new exploration opportunities.