Lahontan Gold Corp Completes Oversubscribed Private Placement

Lahontan Gold Corp, a mineral exploration company, has announced the closing of an upsized private placement, resulting in gross proceeds of $2,499,880.20. Originally set at 13,333,333 units, investor demand led to an increase to 16,665,868 units at $0.15 each. Each unit consists of one common share and a half common share purchase warrant, with each warrant allowing holders to buy a common share at $0.25 within two years.

Proceeds from the offering will support Lahontan's working capital and exploration at the Santa Fe Mine and West Santa Fe Projects. Additionally, broker warrants were issued, and the transaction was considered a related party transaction due to insider participation. Regulatory exemptions were used to expedite the process, and the offering adheres to Canadian securities guidelines while excluding U.S. registration.