Business
Blue Lagoon Continues to Strengthen Treasury to Fund Final Preparations of Mine Site and Initial Working Capital to Fund Commencement of Production
(TheNewswire) March 31, 2025 – TheNewswire - Vancouver, British Columbia...
About this update from Blue Lagoon Resources Inc
[{"type":"text","content":"Blue Lagoon Continues to Strengthen Treasury to Fund Final Preparations of Mine Site and Initial Working Capital to Fund Commencement of Production\n\n\n (TheNewswire)\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n March 31, 2025\n \n\n –\n \n\n TheNewswire -\n \n\n Vancouver, British Columbia – Blue Lagoon Resources Inc.\n(the “Company”) (CSE: BLLG; FSE: 7BL; OTCQB: BLAGF) is pleased to\nannounce that it has closed a\n \n\n\n third tranche\n \n\n\n of its previously announced non-brokered private placement\n(the “Offering”), bringing the total funds raised across the three\ntranches to\n \n\n\n $2,646,750\n \n\n\n .\n \n\n\n\n In this third tranche, the Company issued\n \n\n\n 5,397,000 units (the “Units”) at a price of $0.25 per Unit,\nraising gross proceeds of $1,349,250\n \n\n\n .\n \n\n\n\n “We are very pleased to close another successful\ntranche of our financing, which saw participation from both new and\nexisting shareholders,” said\n \n\n\n Rana Vig, President and CEO of\nBlue Lagoon Resources\n \n\n\n .\n \n\n “This continued support underscores the\nconfidence in our vision as we move closer to commencing gold and\nsilver production at\n \n\n\n Dome Mountain\n \n\n\n .\n \n\n These funds will be\ninstrumental in completing the\n \n\n\n final preparations of the mine\nsite\n \n\n\n ,\n \n\n including the\n \n\n\n completion of our water treatment\nfacility\n \n\n\n ,\n \n\n and will also provide\n \n\n\n initial working\ncapital\n \n\n\n to support the transition to\n \n\n\n production\n \n\n\n .” he said.\n \n\n\n\n Each Unit in the\n \n\n Offering\n \n\n consists of one common share\nin the capital of the Company and one-half of one transferrable common\nshare purchase warrant. Each whole warrant (a “Warrant”) entitles\nthe holder to purchase one additional common share of the Company at\nan exercise price of $0.35 per share until March\n \n\n 28, 2027.\n \n\n The proceeds raised from the\nOffering are expected to be used to finish the installation of the\n \n\n water treatment facility\n \n\n at the mine site, other\n \n\n preparatory work\n \n\n and for general corporate purposes. The\nsecurities issued under the Offering are subject to a four month hold\nperiod expiring on\n \n\n July 29, 2025,\n \n\n in accordance with applicabl...