Business
Lahontan Announces Private Placement
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATE...
About this update from Lahontan Gold Corp.
[{"type":"text","content":"Lahontan Announces Private Placement\nNOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. TORONTO, March 12, 2026 (GLOBE NEWSWIRE) -- Lahontan Gold Corp. (TSXV:LG, OTCQB:LGCXF, FSE:Y2F) (the \"Company\" or \"Lahontan\") is pleased to announce that it intends to complete a non-brokered private placement of up to 24,390,244 units (each, a \"Unit\") in the capital of the Company at a price of Cdn $0.41 per Unit for gross proceeds of up to Cdn $10,000,000 (the \"Offering\"). Each Unit shall be comprised of one common share (each, a \"Common Share\") in the capital of the Company and one-half of one whole Common Share purchase warrant (each whole warrant, a \"Warrant\"). Each Warrant entitles the holder thereof to purchase one Common Share at a price of Cdn $0.60 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) is equal to or exceeds Cdn $1.00 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 and West Santa Fe Projects. All securities issued in connection with the Offering will be subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation. Subject to compliance with applicable regulatory requirements, all securities to be issued pursuant to the Offering in jurisdictions outside of Canada and the United States pursuant to Ontario Securities Commission Rule 72-503 - Distributions Outside Canada will not be subject to any statutory hold period under applicable Canadian securities laws. The closing of the Offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other app...