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Lahontan Announces Closing of Upsized Private Placement of Units and Welcomes New Institutional Investor
Toronto, Ontario--(Newsfile Corp. - April 30, 2025) - Lahontan Gold Corp. (TSXV: LG) (OTCQB: LGC...
About this update from Lahontan Gold Corp.
[{"type":"text","content":"Lahontan Announces Closing of Upsized Private Placement of Units and Welcomes New Institutional InvestorToronto, Ontario--(Newsfile Corp. - April 30, 2025) - Lahontan Gold Corp. (TSXV: LG) (OTCQB: LGCXF) (the \"Company\" or \"Lahontan\") is pleased to announce that, further to its press releases of April 8, 2025, and April 22, 2025, the Company successfully completed its non-brokered private placement financing through the issuance of 42,705,700 units (each, a \"Unit\") in the capital of the Company at a price of $0.05 per Unit for aggregate gross proceeds of $2,135,285 (the \"Offering\"). The Company is also pleased to announce that Mr. Larry Lepard, through Equity Management Associates, LLC (\"EMA\") provided the lead order for the financing and were major participants in the Offering. Lahontan is excited to welcome Mr. Lepard and EMA as shareholders.Each Unit is comprised of one common share of the Company (each, a \"Common Share\") and one-half of one whole Common Share purchase warrant (each whole warrant, a \"Warrant\") of the Company. Each Warrant entitling the holder thereof to purchase one Common Share at a price of $0.08 per Common Share for a period of two (2) years from the date of issuance, provided, however, that should the closing price at which the Common Shares trade on the TSX Venture Exchange (or any such other stock exchange in Canada as the Common Shares may trade at the applicable time) exceed $0.12 for ten (10) consecutive trading days at any time following the date that is four months and one day after the date of issuance, the Company may accelerate the Warrant term (the \"Reduced Warrant Term\") such that the Warrants shall expire on the date which is 30 business days following the date a press release is issued by the Company announcing the Reduced Warrant Term. Gross proceeds raised from the Offering will be used for general working capital purposes and for exploration at the Company's Santa Fe Mine Project. All securities issued in connection with the Offering are subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation.In connection with the Offering, the Company paid Leede Financial Inc. a cash commission of $6,000. This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities...