Business
US$150,000 Unsecured Loan Facility
US$150,000 Unsecured Loan Facility.
About this update from Lexington Gold Ltd.
[{"type":"text","content":"\n \n \n \n 14 March 2023\n \n \n \n Lexington Gold Ltd\n \n \n (\"Lexington Gold\" or the \"Company\")\n \n \n \n \n \n \n \n \n US$150,000 Unsecured Loan Facility\n \n \n \n \n \n \n \n \n Lexington Gold (AIM: LEX), the gold exploration and development company with projects in North and South Carolina, USA, is pleased to announce that a wholly owned subsidiary of the Company has\n entered into a US$150,000 unsecured loan facility (the \"Loan Facility\") with Edward Nealon, a director and Chairman of the Company (the \"Lender\"), to be utilised to satisfy the group's ongoing working capital requirements and costs associated with evaluating potential additional new gold projects/opportunities.\n \n \n \n \n \n \n Highlights\n \n :\n \n \n \n \n \n ·\n US$150,000 Loan Facility obtained from the Company's Chairman, a significant shareholder in the Company\n \n \n ·\n The Loan Facility provides working capital and financial flexibility whilst the Company:\n \n \n o \n awaits the assay results from its recent\n sampling and mapping campaigns at both the Jennings-Pioneer and Argo projects; and\n \n \n o \n evaluates potential\n additional new gold projects/opportunities both in the Carolinas and in other well-known, global gold producing jurisdictions.\n \n \n ·\n The Loan Facility serves to avoid equity dilution for existing shareholders at the current time\n \n \n \n \n \n \n Bernard Olivier, CEO of Lexington Gold, commented\n \n :\n \n \n \n \"The purpose of this Loan Facility is to provide the Company with additional working capital and financial flexibility as it awaits the assay results from its recent sampling and mapping campaigns at both the Jennings-Pioneer and Argo projects which will then enable us to design the next phase of work. The Loan Facility also enables the Company to continue toevaluate and seek to secure potential\n \n \n additional new gold projects/opportunities in the Carolinas as well as other well-known, global gold\n \n \n producing jurisdictions, whilst\n \n \n avoiding equity dilution for shareholders in the current uncertain market environment.\"\n \n \n \n \n \n \n \n Loan Facility\n \n \n \n The purpose of the Loan Facility is to provide the Company with additional working capital and financial flexibility as it awaits the assay results from its recent sa...