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Lahontan Gold Announces Upsize to Private Placement of Units
Toronto, Ontario--(Newsfile Corp. - February 14, 2023) - Lahontan Gold Corp. (TSXV: LG) (OTCQB: ...
About this update from Lahontan Gold Corp.
[{"type":"text","content":"Lahontan Gold Announces Upsize to Private Placement of UnitsToronto, Ontario--(Newsfile Corp. - February 14, 2023) - Lahontan Gold Corp. (TSXV: LG) (OTCQB: LGCXF) (the \"Company\" or \"Lahontan\") is pleased to announce that, further to its press release of February 8, 2023, it has increased the size of the offering of units of the Company. Under the amended terms of the Offering (as defined below), Beacon Securities Limited (the \"Agent\") has agreed to sell, on a best efforts private placement basis, up to 20,910,000 units (the \"Units\") at a price of $0.11 per Unit (the \"Issue Price\") for aggregate gross proceeds of up to $2,300,100 (the \"Offering\"). Each Unit shall consist 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 will be exercisable to acquire one common share (a \"Warrant Share\") for a period of 36 months following the closing of the Offering at a price of $0.18 per Warrant Share. The Company has granted Beacon an option, exercisable in whole or in part at any time up to 48 hours prior to the closing of the Offering, to sell up to an additional 9,090,000 Units (the \"Additional Units\") at a price per Additional Unit equal to the Issue Price.The securities to be issued under the Offering will be offered by way of private placement in each of the Provinces of Canada and such other jurisdictions as may be determined by the Company, in each case, pursuant to applicable exemptions from the prospectus requirements under applicable securities laws. The securities issued in connection with this Offering will be 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 expected to close on or about February 28, 2023 (the \"Closing Date\"), and 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 Offering will be conducted pursuant to the terms of an agency agreement to be entered into between the Company and the Agent ...