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Lahontan Gold Corp. ( (TSE:LG) ) has provided an announcement.
Lahontan Gold Corp. has closed the third tranche of its non-brokered private placement, issuing 3,710,000 units at CAD$0.41 each for gross proceeds of CAD$1.52 million. Across all three tranches, the company raised a total of CAD$13.2 million through 32,190,244 units, each comprising one common share and half a warrant exercisable at CAD$0.60, with an acceleration feature tied to share price performance.
The company plans to use the proceeds to fund exploration at its Santa Fe Mine and West Santa Fe projects in Nevada and for general working capital, reinforcing its strategy of advancing the Santa Fe Mine toward production. The placement also involved cash finder fees and broker warrants, with all securities subject to standard hold periods, underscoring active capital markets support for Lahontan’s development and exploration plans.
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. Its flagship 28.3 km² Santa Fe Mine project, a past-producing open-pit, hosts a significant NI 43-101 compliant resource and is being advanced toward renewed production alongside exploration at the nearby West Santa Fe project.
Average Trading Volume: 2,164,465
Technical Sentiment Signal: Buy
Current Market Cap: C$142.6M
See more data about LG stock on TipRanks’ Stock Analysis page.