Lahontan Gold Corp. (TSXV: LG | OTCQB: LGCXF) has announced the completion of its previously announced brokered private placement through the issuance of 25M units at C$0.08 each for gross proceeds of C$2M.
The offering was conducted pursuant to the terms and conditions of an agency agreement entered into by the company, Beacon Securities Limited as sole book-runner, and Haywood Securities Inc.
“The company is very pleased with the strong support from all the shareholders who participated in this offering, including our largest institutional investors and Victoria Gold,” commented Kimberly Ann, Lahontan CEO, president, director, and founder.
“Completing an offering in challenging market conditions is testament to the strength of our projects, our board, and our management team.”
A form 45-106F19 listed issuer financing document dated 2 August 2023 was prepared, filed, and is available for viewing on Lahontan’s website.
Each unit comprises one common share and one transferable common share purchase warrant. Each warrant is exercisable to acquire one common share until 1 September 2026 at a price of C$0.12 each.
Lahontan paid a cash commission of approximately C$108,052 and issued 1,354,290 non-transferable compensation options. Each compensation option is exercisable to acquire one common share at the issue price until 1 September 2026.
The proceeds will be used for future exploration and development of the Santa Fe Project and West Santa Fe Project, along with working capital and general corporate purposes. The offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSXV.
For further information, please visit: www.lahontangoldcorp.com
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