Lahontan Gold Closes C$11.7M Private Placement

Lahontan Gold Corp. (TSXV: LG | OTCQB: LGCXF | FSE: Y2F) has closed the second tranche of its non‑brokered private placement, raising an additional C$1.30M through the issuance of 3,170,000 units priced at C$0.41 each. Combined with the first tranche, Lahontan has now issued 28,480,244 units for total gross proceeds of C$11.68M.

Each unit consists of one common share and one‑half warrant. Each full warrant is exercisable at C$0.60 for two years. The warrants include an acceleration clause: if Lahontan’s shares trade at or above C$1.00 for ten consecutive trading days after the four‑month hold period, the company may accelerate the expiry to 30 business days.

Proceeds from the placement will fund exploration at the Santa Fe Mine and West Santa Fe projects in Nevada, as well as general working capital.

In connection with the placement, Lahontan paid C$86,592 in finder’s fees and issued 211,200 broker warrants exercisable at C$0.41 for two years.

All securities issued are subject to a four‑month‑plus‑one‑day statutory hold period. Securities issued outside Canada and the United States under OSC Rule 72‑503 will not be subject to Canadian resale restrictions.

The financing included participation from an insider (60,000 units), constituting a related‑party transaction under MI 61‑101. Lahontan relied on exemptions from minority approval and valuation requirements, as the participation represented less than 25% of its market capitalisation. The company noted it did not file a material change report 21 days in advance due to timing considerations in completing the financing.

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