Business
Blue Lagoon Closes Final Tranche Of Financing - Fully Funded To Commence Production
(TheNewswire) April 29, 2025 – TheNewswire – Vancouver, British ...
About this update from Blue Lagoon Resources Inc
[{"type":"text","content":"Blue Lagoon Closes Final Tranche Of Financing - Fully Funded To Commence Production \n\n\n (TheNewswire)\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n April 29, 2025\n \n\n –\n \n\n TheNewswire –\n \n\n Vancouver,\nBritish\n \n\n Columbia\n \n\n –\n \n\n Blue\n \n\n Lagoon\n \n\n Resources\n \n\n Inc.\n \n\n (the\n“\n \n\n Company\n \n\n ”)\n \n\n (CSE:\n \n\n BLLG;\n \n\n FSE:\n \n\n 7BL;\n \n\n OTCQB:\n \n\n BLAGF)\n \n\n is pleased to announce that it\nhas completed the final tranche of its previously announced private\nplacement financing (see news releases dated February 24 and March 31,\n2025) by issuing 8,900,000 units (“Units”) at a price of $0.25 per\nUnit for gross proceeds of $2,225,000 (the “Offering”). This\nbrings the total proceeds raised across four tranches to\n$4,871,750.\n \n\n\n\n The final tranche was subscribed for entirely by\nexisting shareholders and strategic investors, including Crescat\nCapital and Nicola Mining, both of whom increased their positions in\nthe Company. The Offering was met with strong demand and was\noversubscribed\n \n\n .\n \n\n\n\n Rana Vig, President and CEO, commented:\n \n\n\n\n \"This overwhelming support — especially from\nhighly sophisticated shareholders like Crescat and Nicola — signals\ntremendous confidence in Blue Lagoon’s future. We are now fully\nfunded to launch production this summer. With one of only nine mining\npermits granted in British Columbia over the past decade, our Dome\nMountain Gold Project is on track to generate cash flow from\nproduction and drive the next phase of growth. Dome Mountain is just\ngetting started, and we’re excited to unlock its full\npotential.\"\n \n\n\n\n Each Unit sold in the Offering consists of one common\nshare of the Company and one-half of one common share purchase\nwarrant. Each whole warrant is exercisable into one common share at an\nexercise price of $0.35 per share for a period of two years from the\ndate of issuance. The common shares issued are subject to a hold\nperiod expiring four months and one day from the date of\nissuance.\n \n\n\n\n Proceeds from the Offering will be used to complete\nconstruction of the Company’s water treatment plant at its fully\npermitted Dome Mountain Gold Project, and to provide initial working\ncapital as ...