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Lahontan Gold Corp. (TSX-V:LG) (OTCQB:LGCXF) is pleased to announce that, further to its press release of April 10, 2024, it has completed its previously announced brokered private placement through the issuance of 57,500,000 units at a price of $0.06 per Unit for gross proceeds of $3,450,000, which includes the exercise of the agents’ option to sell an additional 7,500,000 Units at the Issue Price.

The Offering was conducted pursuant to the terms and conditions of an agency agreement entered into by the Company, Beacon Securities Limited acting as lead agent and sole bookrunner, Haywood Securities Inc., PI Financial Corp. and Research Capital Corporation.

Each Unit is comprised of one common share in the capital of the Company and one-half of one common share purchase warrant. Each Warrant is exercisable to acquire one common share until April 30, 2027 at a price of $0.10 per Warrant Share.

As consideration for services provided by the Agents in connection with the Offering, the Company: (i) paid a cash commission in the amount of $215,915 and a corporate finance fee in the amount of $5,800, being equal in the aggregate to 7% of the proceeds of the Offering (except, with respect to certain purchasers on a “President’s List”, the commission and corporate finance fee being equal to 3.5%); and (ii) issued 3,695,586 non-transferrable compensation options and corporate finance fee options being equal to 7% of the number of Units issued under the Offering (except, with respect to certain purchasers on a “President’s List”, the Compensation Options being equal to 3.5%). Each Compensation Option is exercisable to acquire one common share at the Issue Price until April 30, 2027.

Kimberly Ann, CEO, President, Director, and Founder of Lahontan Gold commented: “The Company is excited to close this fully subscribed private placement. We are now fully focused on advancing the Santa Fe Mine project, both on the permitting front focused on the completion of our Plan of Operations, and also on the technical side with the start of work on a Preliminary Economic Assessment of restart options for the Santa Fe Mine. We believe the Company is poised for a tremendous period of unprecedented growth”.

The securities issued in connection with the Offering are subject to a four-month hold period from the date of closing of the Offering in addition to any other restrictions under applicable law. The net proceeds from the Offering will be used for exploration activities on the Company’s projects, working capital and general corporate purposes. The Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange.



The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.



About Lahontan Gold Corp:

Lahontan Gold Corp. is a Canadian mineral exploration company that holds, through its US subsidiaries, four gold and silver exploration properties in the Walker Lane of mining friendly Nevada.


Posted April 30, 2024

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