- Lahontan Gold Corp. (LG) has increased the size of the offering for gross proceeds of up to C$2,300,100
- Beacon Securities Limited has agreed to sell up to 20,910,000 units at a price of $0.11 per unit
- The company plans to use the net proceeds for exploration expenditures on its Santa Fe, Nevada property, as working capital and for general corporate purposes
- Lahontan Gold Corp. is a Canadian mineral exploration company that engages in the exploration of gold and silver in the United States
- Lahontan Gold Corp. opened trading at C$0.11 per share
Lahontan Gold Corp. (LG) has increased the size of the offering of units of the company for gross proceeds of up to C$2,300,100.
Under the amended terms of the offering, Beacon Securities Limited has agreed to sell, on a private placement basis, up to 20,910,000 units at a price of $0.11 per unit. Each unit will consist of one common share and one-half of one common share purchase warrant. Each warrant will be exercisable to acquire one common share for a period of 36 months following the closing of the offering at a price of $0.18 per warrant share.
The company has granted Beacon an over-allotment option to sell up to an additional 9,090,000 units.
The securities issued will be subject to a statutory four-month hold period.
Net proceeds will be used for exploration expenditures on its Santa Fe, Nevada property, as working capital and for general corporate purposes.
The offering is expected to close on or about February 28, 2023, subject to the receipt of all necessary approvals, including the approval of the TSX Venture Exchange.
Lahontan Gold Corp. is a Canadian mineral exploration company that engages in the exploration of gold and silver in the United States
Lahontan Gold Corp. (LG) opened trading at C$0.11 per share.