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FAQ: Lahontan Gold Corp.'s $2.5 Million Private Placement and Corporate Overview
TL;DR
Lahontan Gold's $2.5 million private placement provides capital to advance exploration, potentially increasing shareholder value through resource development at their Nevada properties.
Lahontan Gold issued 16.67 million units at $0.15 each, consisting of one share and half-warrant exercisable at $0.25 for two years with acceleration clauses.
Lahontan Gold's funding supports responsible mineral exploration that could create jobs and contribute to sustainable resource development in mining-friendly Nevada communities.
Lahontan Gold's Santa Fe Mine previously produced over 359,000 ounces of gold and now holds 1.54 million indicated gold equivalent ounces in Nevada.
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Lahontan Gold Corp. closed an upsized non-brokered private placement of 16,665,868 units at $0.15 each for gross proceeds of $2,499,880.20 to support general working capital and exploration at the Santa Fe Mine and West Santa Fe Projects.
Each unit consists of one common share and one-half warrant exercisable at $0.25 for two years, subject to an acceleration clause.
The proceeds will support general working capital and exploration activities at the Santa Fe Mine and West Santa Fe Projects in Nevada.
The company holds four gold and silver exploration properties in Nevada's Walker Lane, with its flagship Santa Fe Mine project containing an Indicated Mineral Resource of 1,539,000 oz Au Eq and an Inferred Mineral Resource of 411,000 oz Au Eq.
Lahontan plans to continue advancing the Santa Fe Mine project towards production, update the Santa Fe Preliminary Economic Assessment, and drill test its satellite West Santa Fe project during 2025.
The Santa Fe Mine had past production of 359,202 ounces of gold and 702,067 ounces of silver between 1988 and 1995 from open pit mines utilizing heap-leach processing.
Yes, the offering included $28,910.39 in finder fees and 192,735 broker warrants on the same accelerated-term structure as the main warrants.
The 'Preliminary Economic Assessment, NI 43-101 Technical Report, Santa Fe Project' is available on the Company's website and SEDAR+, with an effective date of December 10, 2024, and report date of January 24, 2025.
The technical content was reviewed and approved by Michael Lindholm, CPG, Independent Consulting Geologist to Lahontan Gold Corp., who is a Qualified Person as defined in National Instrument 43-101.
For more information, visit the company's website at www.lahontangoldcorp.com or view the full press release at https://ibn.fm/jgZMr.
Curated from InvestorBrandNetwork (IBN)
