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Lahontan Closes Third Tranche of Private Placement for an Aggregate of $13.2M
Toronto, Ontario--(Newsfile Corp. - April 2, 2026) - Lahontan Gold Corp. (TSXV: LG) (OTCQB: LGCX...
About this update from Lahontan Gold Corp.
[{"type":"text","content":"Lahontan Closes Third Tranche of Private Placement for an Aggregate of $13.2MToronto, Ontario--(Newsfile Corp. - April 2, 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, March 20, 2026 and March 24, 2026, it has closed the third tranche of its non-brokered private placement through the issuance of 3,710,000 units (each, a \"Unit\") in the capital of the Company at a price of CAD$0.41 per Unit for gross proceeds of CAD$1,521,100 (the \"Offering\"). In connection with the first, second and third tranches of the Offering, the Company has issued a total of 32,190,244 Units for aggregate gross proceeds of CAD$13,198,000. 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, second and third tranches of the Offering, the Company paid certain eligible finders cash commissions in the aggregate of $778,858 and issued an aggregate of 1,897,214 broker warrants (each, a \"Broker Warrant\"). Each Broker Warrant entitles the holder thereof to acquire one Common Share at a price of CAD$0.41 per Common Share for a period of two (2) years from the date of issuance. All securities issued in connection wit...