Lahontan Announces Private Placement
MWN-AI** Summary
Lahontan Gold Corp. (TSXV: LG, OTCQB: LGCXF, FSE: Y2F) announced its plans on March 12, 2026, to conduct a non-brokered private placement offering of up to 24,390,244 units at a price of Cdn $0.41 per unit, aiming for total gross proceeds of approximately Cdn $10 million. Each unit will include one common share and half a whole common share purchase warrant. The warrants will allow holders to purchase additional shares at Cdn $0.60 for two years, with a potential to accelerate the term if the share price reaches Cdn $1.00 for ten consecutive trading days.
The funds raised will primarily support general working capital and exploration activities at Lahontan's Santa Fe Mine and West Santa Fe Projects. Regulatory approvals will be required for the closing of the offering, and a four-month hold period will apply to the securities issued, subject to certain exemptions outside Canada and the U.S. Due to regulatory restrictions, this offering is not available to U.S. investors.
Lahontan Gold Corp. operates in Nevada, managing four gold and silver exploration sites, with the Santa Fe Mine noted for its significant past production—359,202 ounces of gold and over 700,000 ounces of silver between 1988 and 1995. The Santa Fe project holds compliant resources quantified at 1,539,000 ounces of equivalent gold in the Indicated category and 411,000 ounces in the Inferred category.
Moving forward, the company plans to advance the Santa Fe Mine toward production, update the Preliminary Economic Assessment, and conduct additional drilling at the West Santa Fe project throughout 2025.
MWN-AI** Analysis
Lahontan Gold Corp.'s recent announcement regarding a non-brokered private placement of units at Cdn $0.41 each, aimed at raising up to Cdn $10 million, presents both opportunities and risks for potential investors. The company intends to allocate these funds towards exploration at its Santa Fe Mine and West Santa Fe Projects, which are of particular interest given the promising resources delineated in their technical report.
The private placement structure offers shareholders an opportunity to acquire units that include common shares and warrants at an attractive price, especially considering the warrants’ exercise price of Cdn $0.60, which is above the current placement price. Should the shares rise above Cdn $1.00 for ten consecutive trading days—a reasonable scenario given the company's recent progress—this could lead to a quick influx of capital via warrant exercise, enhancing liquidity and further funding exploration initiatives.
Investors should keep a close eye on regulatory approvals for this offering, as such sessions are critical to mitigating risk exposure. The potential earnings from increased exploration and subsequent production at Santa Fe could vastly improve the company's valuation but are contingent on exploration results and market conditions.
Lahontan’s significant inferred mineral resources present a promising outlook, yet the mining sector is subject to volatility, and a comprehensive assessment of market conditions, gold prices, and exploration costs should be considered before investing. With a current market valuation reflecting investor sentiment towards sector performance and exploration success, those looking to enter may consider scaling investments based on the outcome of the upcoming exploration activities and market reactions post-private placement.
In summary, while Lahontan Gold offers a potentially lucrative opportunity, it is essential for investors to remain vigilant about the associated risks and to consider long-term prospects in conjunction with market fluctuations.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
TORONTO, March 12, 2026 (GLOBE NEWSWIRE) -- Lahontan Gold Corp. (TSXV:LG, OTCQB:LGCXF, FSE:Y2F) (the "Company" or "Lahontan") is pleased to announce that it intends to complete a non-brokered private placement of up to 24,390,244 units (each, a "Unit") in the capital of the Company at a price of Cdn $0.41 per Unit for gross proceeds of up to Cdn $10,000,000 (the "Offering").
Each Unit shall be comprised of one common share (each, a "Common Share") in the capital of the Company and one-half of one whole Common Share purchase warrant (each whole warrant, a "Warrant"). Each Warrant entitles the holder thereof to purchase one Common Share at a price of Cdn $0.60 per Common Share for a period of two (2) years from the date of issuance, provided, however, that should the closing price at which the Common Shares trade on the TSX Venture Exchange (or any such other stock exchange in Canada as the Common Shares may trade at the applicable time) is equal to or exceeds Cdn $1.00 for ten (10) consecutive trading days at any time following the date that is four months and one day after the date of issuance, the Company may accelerate the Warrant Term (the "Reduced Warrant Term") such that the Warrants shall expire on the date which is 30 business days following the date a press release is issued by the Company announcing the Reduced Warrant Term.
Gross proceeds raised from the Offering will be used for general working capital purposes and for exploration at the Company's Santa Fe Mine and West Santa Fe Projects.
All securities issued in connection with the Offering will be subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation. Subject to compliance with applicable regulatory requirements, all securities to be issued pursuant to the Offering in jurisdictions outside of Canada and the United States pursuant to Ontario Securities Commission Rule 72-503 - Distributions Outside Canada will not be subject to any statutory hold period under applicable Canadian securities laws. The closing of the Offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals, including the approval of the TSX Venture Exchange.
This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons as defined under applicable United States securities laws unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
About Lahontan Gold Corp.
Lahontan Gold Corp. is a Canadian mine development and mineral exploration company that holds, through its US subsidiaries, four gold and silver exploration properties in the Walker Lane of mining friendly Nevada. Lahontan’s flagship property, the 28.3 km2 Santa Fe Mine project, 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. The Santa Fe Mine has a Canadian National Instrument 43-101 compliant Indicated Mineral Resource of 1,539,000 oz Au Eq (48,393,000 tonnes grading 0.92 g/t Au and 7.18 g/t Ag, together grading 0.99 g/t Au Eq) and an Inferred Mineral Resource of 411,000 oz Au Eq (16,760,000 grading 0.74 g/t Au and 3.25 g/t Ag, together grading 0.76 g/t Au Eq), all pit constrained (Au Eq is inclusive of recovery, please see Santa Fe Project Technical Report and note below*). The Company 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. For more information, please visit our website: www.lahontangoldcorp.com
* Please see the “Preliminary Economic Assessment, NI 43-101 Technical Report, Santa Fe Project”, Authors: Kenji Umeno, P. Eng., Thomas Dyer, PE, Kyle Murphy, PE, Trevor Rabb, P. Geo, Darcy Baker, PhD, P. Geo., and John M. Young, SME-RM; Effective Date: December 10, 2024, Report Date: January 24, 2025. The Technical Report is available on the Company’s website and SEDAR+. Mineral resources are reported using a cut-off grade of 0.15 g/t AuEq for oxide resources and 0.60 g/t AuEq for non-oxide resources. AuEq for the purpose of cut-off grade and reporting the Mineral Resources is based on the following assumptions gold price of US$1,950/oz gold, silver price of US$23.50/oz silver, and oxide gold recoveries ranging from 28% to 79%, oxide silver recoveries ranging from 8% to 30%, and non-oxide gold and silver recoveries of 71%.
Qualified Person
Brian J. Maher, M.Sc., CPG-12342, is a “Qualified Person” as defined under Canadian National Instrument 43-101, Standards of Disclosure for Mineral Projects, and has reviewed and approved the content of this news release in respect of all technical disclosure other than the Mineral Resource Estimate as noted above.? Mr. Maher is Vice President-Exploration for Lahontan Gold and has verified the data disclosed in this news release, including the sampling, ??analytical and test data underlying the disclosure.
On behalf of the Board of Directors
Kimberly Ann
Founder, CEO, President, Executive Chair
FOR FURTHER INFORMATION, PLEASE CONTACT:
Lahontan Gold Corp.
Kimberly Ann
Founder, CEO, President, Executive Chair
Phone: 1-530-414-4400
Email:
Kimberly.ann@lahontangoldcorp.com
Website: www.lahontangoldcorp.com
Cautionary Note Regarding Forward-Looking Statements:
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the TSXV. There are uncertainties inherent in forward-looking information, including factors beyond the Company’s control. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company’s filings with Canadian securities regulators, which filings are available at www.sedar.com.
FAQ**
How does Lahontan Gold Corp. plan to utilize the funds raised from the Offering, specifically in relation to its exploration initiatives involving Long Chen Paper Co Ltd LGCXF?
What potential risks does Lahontan Gold Corp. foresee regarding the successful completion of the Offering as it relates to Long Chen Paper Co Ltd LGCXF funding or projects?
Can Lahontan Gold Corp. clarify the impact of external factors on the demand for its Units, especially in connection with the market performance of Long Chen Paper Co Ltd LGCXF?
How does Lahontan Gold Corp. intend to ensure that its shareholders, including those interested in Long Chen Paper Co Ltd LGCXF, are informed about the outcomes of the Offering and its associated projects?
**MWN-AI FAQ is based on asking OpenAI questions about Long Chen Paper Co Ltd (OTC: LGCXF).
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