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Lahontan Gold Announces Closing of Non-Brokered Private Placement of Units
Toronto, Ontario--(Newsfile Corp. - March 8, 2023) - Lahontan Gold Corp. (TSXV: LG) (OTCQB: LGCX...
About this update from Lahontan Gold Corp.
[{"type":"text","content":"Lahontan Gold Announces Closing of Non-Brokered Private Placement of UnitsToronto, Ontario--(Newsfile Corp. - March 8, 2023) - Lahontan Gold Corp. (TSXV: LG) (OTCQB: LGCXF) (the \"Company\" or \"Lahontan\") is pleased to announce that it has closed a non-brokered private placement through the issuance of 455,000 units (the \"Units\") at a price of $0.11 (the \"Issue Price\") per Unit for gross proceeds of $50,050 (the \"Offering\").Each Unit is comprised of one common share in the capital of the Company (each, a \"Unit Share\") and one-half of one common share purchase warrant (each whole warrant, a \"Warrant\"). Each Warrant is exercisable to acquire one common share (a \"Warrant Share\") until February 28, 2026 at a price of $0.18 per Warrant Share. The securities issued in connection with the Offering are subject to a four-month hold period from the date of closing of the Offering in addition to any other restrictions under applicable law. The net proceeds from the Offering will be used for: (i) exploration expenditures on the Company's Santa Fe, Nevada property; and (ii) working capital and general corporate purposes. The Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange.The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.About Lahontan Gold Corp.Lahontan Gold Corp. is a Canadian mineral exploration company that holds, through its US subsidiaries, three top-tier gold and silver exploration properties in the Walker Lane of mining friendly Nevada. Lahontan's flagship property, the 19 km2 Santa Fe Mine, is a past producing gold and silver mine that utilized heap-leach processing (past production of 345,000 ounces of gold and 711,000 ounces of silver between 1988 and 1995; Nevada Bureau of Mines and Geology, 1995). The Santa Fe Mine has an Indicated Mineral Resource of 1,112,000 oz Au Eq (grading 1.14 g/t Au Eq) and an Inferred...