Lahontan Gold Upsizes Private Placement to Fund Nevada Projects

Lahontan Gold Corp. ( (TSE:LG) ) has shared an announcement.

Lahontan Gold Corp. has increased the size of its non-brokered private placement to up to 33,902,439 units at CAD$0.41 per unit, for potential gross proceeds of up to CAD$13.9 million, reflecting strong investor demand from existing shareholders, institutions, and new investors. Each unit consists of one common share and a half warrant, with warrants exercisable at CAD$0.60 for two years and subject to an accelerated expiry if the share price trades above a set threshold.

The company plans to use the proceeds for general working capital and to advance exploration and permitting at its Santa Fe Mine and West Santa Fe projects in Nevada, positioning 2026 as a potentially transformative year for its development pipeline. The financing, which remains subject to regulatory approvals and customary hold periods on securities, is expected to bolster Lahontan’s efforts to secure mine operating permits and conduct additional drilling across its key assets.

More about Lahontan Gold Corp.

Lahontan Gold Corp. is a Canadian mine development and mineral exploration company focused on four gold and silver properties in Nevada’s Walker Lane district. Its flagship 28.3 km2 Santa Fe Mine project, a past-producing open-pit, hosts significant pit-constrained indicated and inferred gold-equivalent resources, which the company aims to advance toward production and further evaluate through updated economic studies and drilling.

Average Trading Volume: 2,055,281

Technical Sentiment Signal: Buy

Current Market Cap: C$135.5M

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