Business
Lavras Gold Corp. Announces Closing of $10 Million Public Offering
Toronto, Ontario--(Newsfile Corp. - January 29, 2026) - Lavras Gold Corp. (TSXV: LGC) (OTCQX: LGCFF) ("Lavras Gold" or the "Company") is pleased to announce that, further to its press release of January 21, 2026, it has completed its previously announced "bought deal" public offering, pursuant to which the Company issued an aggregate of 2,942,000 common shares of the Company (each, a "Share") at a price of C$3.40 (the "Offering Price") per Share for gross proceeds of C$10,002,800 to the Company.
About this update from Lavras Gold Corp
[{"type":"text","content":"Toronto, Ontario--(Newsfile Corp. - January 29, 2026) - Lavras Gold Corp. (TSXV: LGC) (OTCQX: LGCFF) ("Lavras Gold" or the "Company") is pleased to announce that, further to its press release of January 21, 2026, it has completed its previously announced "bought deal" public offering, pursuant to which the Company issued an aggregate of 2,942,000 common shares of the Company (each, a "Share") at a price of C$3.40 (the "Offering Price") per Share for gross proceeds of C$10,002,800 to the Company. The Shares were sold pursuant to an underwriting agreement dated January 23, 2026, between the Company, Canaccord Genuity Corp. ("Canaccord") and Paradigm Capital Inc. (together with Canaccord, the "Co-Lead Underwriters"), as co-lead underwriters, Research Capital Corporation and Raymond James Ltd. (together with the Co-Lead Underwriters, the "Underwriters").","length":942,"tagName":"p"},{"type":"text","content":"The Shares were offered to the public in Canada by way of a prospectus supplement (the "Prospectus Supplement") dated January 23, 2026, to the Company's short form base shelf prospectus dated November 26, 2024, filed in all of the provinces of Canada except for Quebec. The Shares were also offered by way of private placement in the United States and in offshore jurisdictions. The Offering remains subject to final acceptance of the TSX Venture Exchange.","length":470,"tagName":"p"},{"type":"text","content":"In connection with the Offering, the Underwriters were paid an aggregate cash commission of 6% on the gross proceeds of the Offering, subject to reduced cash commissions in respect of the President's List.","length":209,"tagName":"p"},{"type":"text","content":"The Company will use the net proceeds of the Offering for project development, exploration and resource drilling and general corporate purposes.","length":144,"tagName":"p"},{"type":"text","content":"The Offering constituted a related party transaction within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101") as an insider of the Company purchased 7,350 Shares pursuant to the Offering. The Company is relying on the exemptions from the valuation and minorit...