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Lavras Gold Announces Proposed C$10.8 Million Private Placement
TORONTO, Sept. 11, 2023 (GLOBE NEWSWIRE) -- Lavras Gold Corp. (TSXV: LGC, OTCQB: LGCFF) is pleased to announce that it intends to complete a private placement o
About this update from Lavras Gold Corp
[{"type":"text","content":" TORONTO, Sept. 11, 2023 (GLOBE NEWSWIRE) -- Lavras Gold Corp. (TSXV: LGC, OTCQB: LGCFF) is pleased to announce that it intends to complete a private placement offering (the “Offering”) of 8,000,000 common shares (each, a “Common Share”) in the capital of the Company at a price of CAD$1.35 per Common Share, for gross proceeds of CAD$10,800,000. The net proceeds of the Offering are expected to be used primarily for exploration expenses on the Company's gold properties comprising its Lavras do Sul Project located in Rio Grande do Sul State of Brazil, and for general working capital purposes. The Offering will be conducted pursuant to available exemptions from the registration and prospectus requirements of applicable securities legislation, including sales to accredited investors and to close personal friends and business associates of directors and officers of the Company. The completion of the Offering is subject to the receipt of all regulatory and other approvals, including the approval of the TSX Venture Exchange. All securities issued in connection with the Offering will be subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation. This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons as defined under applicable United States securities laws unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. About Lavras Gold Lavras Gold Corp. (TSXV: LGC, OTCQB: LGCFF) is a Canadian exploration company focused on realizing the potential of a multi-million-ounce gold district in southern Brazil. Its Lavras do Sul Project is located in Rio Grande do Sul State, and is primarily an intrusive hosted gold system of possible alkaline affinity. More than 23 gold prospects centred on historic gold workings have been identified on the property, which spans more than 22,000 hectares. Follow Lavras Gold on www.lavrasgold.com, as well as on LinkedIn, Twitter, and YouTube. Conta...