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An update from Lahontan Gold Corp. ( (TSE:LG) ) is now available.
Lahontan Gold Corp. has closed the final tranche of its non-brokered private placement, issuing a total of 33,269,244 units and raising aggregate gross proceeds of CAD$13.64 million. Each unit consists of one common share and one-half warrant, with full warrants exercisable at CAD$0.60 for two years, subject to an acceleration clause tied to the company’s share price performance.
Management says the financing leaves Lahontan fully funded for exploration and mine development programs, including permitting, through 2027 as it targets a production decision on the Santa Fe Mine project. Proceeds will support exploration at the Santa Fe and West Santa Fe projects and general working capital, while broker commissions and broker warrants were issued in connection with the offering, underscoring strong investor demand in a robust equity market.
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. Through its U.S. subsidiaries, the company controls four exploration properties, led by the 28.3 km² Santa Fe Mine project, which has a history of past gold production and is being advanced toward a potential production decision.
Average Trading Volume: 2,194,808
Technical Sentiment Signal: Buy
Current Market Cap: C$129.3M
For detailed information about LG stock, go to TipRanks’ Stock Analysis page.