Business
Lahontan Closes $10.4 M First Tranche of Private Placement
Toronto, Ontario--(Newsfile Corp. - March 20, 2026) - Lahontan Gold Corp. (TSXV: LG) (OTCQB: LGC...
About this update from Lahontan Gold Corp.
[{"type":"text","content":"Lahontan Closes $10.4 M First Tranche of Private PlacementToronto, Ontario--(Newsfile Corp. - March 20, 2026) - Lahontan Gold Corp. (TSXV: LG) (OTCQB: LGCXF) (FSE:Y2F) (the \"Company\" or \"Lahontan\") is pleased to announce that, further to its press releases of March 12, 2026, and March 17, 2026, it has closed the first tranche of its non-brokered private placement through the issuance of 25,310,244 units (each, a \"Unit\") in the capital of the Company at a price of CAD$0.41 per Unit for gross proceeds of CAD$10,377,200 (the \"Offering\"). Each Unit was 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 CAD$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 CAD$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 exploration at the Company's Santa Fe Mine and West Santa Fe Projects and for general working capital purposes. 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 Offering constituted a related party transaction within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Inst...