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An announcement from Lahontan Gold Corp. ( (TSE:LG) ) is now available.
Lahontan Gold Corp. has closed the first tranche of its non-brokered private placement, raising gross proceeds of CAD$10.38 million through the issuance of over 25.3 million units priced at CAD$0.41, each comprising one common share and half a warrant exercisable at CAD$0.60. The financing, which includes a small insider participation treated as a related-party transaction under Canadian securities rules, will fund exploration at the Santa Fe Mine and West Santa Fe projects and bolster working capital, supporting Lahontan’s broader strategy to advance its Nevada gold portfolio toward production.
The units carry a four-month hold in Canada, while certain offshore securities issued under Ontario’s Rule 72-503 will not be subject to a Canadian statutory hold period, underscoring the company’s appeal to international investors. By fortifying its balance sheet and progressing drilling and economic studies at Santa Fe during 2026, Lahontan aims to enhance the project’s development potential and reinforce its position in the North American junior gold sector.
More about Lahontan Gold Corp.
Lahontan Gold Corp. is a Canadian mine development and mineral exploration company focused on gold and silver projects in Nevada’s Walker Lane district. Its flagship 28.3 km² Santa Fe Mine project, a past-producing open pit, hosts a sizeable NI 43-101 compliant indicated and inferred gold-equivalent resource that the company aims to advance toward production while continuing exploration at nearby satellite targets.
Average Trading Volume: 2,123,652
Technical Sentiment Signal: Buy
Current Market Cap: C$128M
Find detailed analytics on LG stock on TipRanks’ Stock Analysis page.