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Lake Victoria Gold Announces Closing of Non-Brokered Concurrent Private Placement of $2 Million
Vancouver, British Columbia--(Newsfile Corp. - October 20, 2025) - Lake Victoria Gold Ltd. (TSXV:...
About this update from Lake Victoria Gold Ltd
[{"type":"text","content":"Lake Victoria Gold Announces Closing of Non-Brokered Concurrent Private Placement of $2 MillionVancouver, British Columbia--(Newsfile Corp. - October 20, 2025) - Lake Victoria Gold Ltd. (TSXV: LVG) (OTCQB: LVGLF) (FSE: E1K) (\"LVG\" or the \"Company\") announces that in addition to the closing of the LIFE Private Placement announced on September 17, 2025, the Company is pleased to announce that it has now closed its non-brokered concurrent private placement (the \"Concurrent Private Placement\" together with the LIFE Private Placement, the \"Private Placement\") through the issuance of 11,428,571 common shares of the Company (the \"Shares\") at a price of $0.175 per Share, for gross proceeds to the Company of $2 million, to purchasers pursuant to applicable exemptions under NI 45-106. All securities issued in connection with the Concurrent Private Placement are subject to a statutory hold period of four months and one day following the date of issuance in accordance with applicable Canadian securities laws. The Company paid $7,007 cash and 40,040 finder's warrants to Canaccord Genuity Corp. on a portion of the Concurrent Private Placement. Each finder's warrant is exercisable to acquire one common share in the capital of the Company at a price of $0.175 per share for a period of three years following the completion of the Concurrent Private Placement. All finder's warrants and securities underlying the finder's warrants are subject to a statutory hold period of four months and one day following the date of issuance in accordance with applicable Canadian securities laws.Certain insiders of the Company participated in the Concurrent Private Placement and purchased in aggregate 3,823,800 Shares for a total of $669,165. The participation of any insiders may be considered a related party transaction within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (\"MI 61-101\"). Such insider participation will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 pursuant to sections 5.5(b) and 5.7(1)(a) of MI 61-101, as the Company is not listed on any of the exchanges or markets outlined in subsection 5.5(b) of MI 61-101, and the fair market value of the securities to be distributed to the insiders will not exceed 25% of the C...