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Lahontan Gold Corp. ( (TSE:LG) ) has shared an announcement.
Lahontan Gold Corp. has closed the second tranche of its non-brokered private placement, issuing 3,170,000 units at CAD$0.41 each for gross proceeds of about CAD$1.3 million, bringing total funds raised from both tranches to approximately CAD$11.7 million. Each unit consists of one common share and half a warrant, with warrants exercisable at CAD$0.60 for two years and subject to an acceleration clause if the share price trades at or above CAD$1.00 for a sustained period.
The company plans to use the proceeds to advance exploration and development at its Santa Fe Mine and West Santa Fe projects in Nevada, as well as for general working capital, reinforcing its strategy to move the Santa Fe Mine toward production. The financing structure also includes finders’ fees in cash and broker warrants, and the securities issued are subject to standard hold periods and resale restrictions under applicable securities laws, underscoring the transaction’s role in strengthening Lahontan’s capital position for its 2026 work program.
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 significant NI 43-101 compliant indicated and inferred gold-equivalent resources that the company aims to advance toward production while continuing exploration at nearby West Santa Fe.
Average Trading Volume: 2,171,621
Technical Sentiment Signal: Buy
Current Market Cap: C$128M
Learn more about LG stock on TipRanks’ Stock Analysis page.