Business
Lahontan Closes Second Tranche of Private Placement for an Aggregate of $11.7M
Toronto Ontario--(Newsfile Corp. - March 24, 2026) - Lahontan Gold Corp. (TSXV: LG) (OTCQB: LGCX...
About this update from Lahontan Gold Corp.
[{"type":"text","content":"Lahontan Closes Second Tranche of Private Placement for an Aggregate of $11.7MToronto Ontario--(Newsfile Corp. - March 24, 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, March 17, 2026, and March 20, 2026, it has closed the second tranche of its non-brokered private placement through the issuance of 3,170,000 units (each, a \"Unit\") in the capital of the Company at a price of CAD$0.41 per Unit for gross proceeds of CAD$1,299,700 (the \"Offering\"). In connection with the first and second tranches of the Offering, the Company has issued an total of 28,480,244 Units for aggregate gross proceeds of $11,676,900.04. 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. In connection with the first and second tranches of the Offering, the Company paid certain eligible finders cash commissions in the aggregate of $86,592 and issued 211,200 broker warrants (each, a \"Broker Warrant\"). Each Broker Warrant entitles the holder thereof to acquire one Common Share at a price of $0.41 per Common Share for a period of two (2) years from the date of issuance. All securities issued in connection with the Offering will be subject to a hold period o...