- Lahontan Gold (LG) has closed its previously announced brokered private placement for gross proceeds of $3,064,314
- Lahontan issued a total of 27,857,400 units for $0.11 per unit
- The net proceeds will be used primarily for expenditures on the company’s Santa Fe, Nevada property
- Lahontan Gold Corp. is a Canadian mineral exploration company that holds three gold and silver exploration properties in Nevada
- Lahontan Gold Corp. (LG) is unchanged on the day, trading at C$0.10 per share at 3:00 pm ET
Lahontan Gold (LG) has closed its previously announced brokered private placement for gross proceeds of $3,064,314.
Under the offering, Lahontan issued a total of 27,857,400 units for $0.11 per unit, including the exercise of the agents’ option.
Each unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant is exercisable to acquire one additional common share until February 28, 2026.
The offering was led by Beacon Securities Limited as lead agent and sole bookrunner and Canaccord Genuity Corp. As consideration for services provided by the agents, the company paid a $193,514 cash commission and issued 1,750,168 non-transferrable compensation warrants.
The securities issued are subject to a statutory four-month hold period.
The net proceeds will be used for expenditures on the company’s Santa Fe, Nevada property, working capital and general corporate purposes.
Kimberly Ann, Founder, CEO, and President of Lahontan Gold Corp, commented on the capital raise.
“Lahontan is pleased to close this upsized private placement and would like to thank Beacon and Canaccord Genuity Corp for their hard work in completing the placement. The Company looks forward to the resumption of oxide resource expansion drilling at the Santa Fe Mine and our continued rapid progress with the project.”
About Lahontan Gold Corp:
Lahontan Gold Corp. is a Canadian mineral exploration company that holds, through its US subsidiaries, three top-tier gold and silver exploration properties in the Walker Lane of mining-friendly Nevada.
Lahontan Gold Corp. (LG) is unchanged on the day, trading at C$0.10 per share at 3:00 pm ET.
