Lahontan Announces Upsize to Private Placement
MWN-AI** Summary
Lahontan Gold Corp. (TSXV:LG, OTCQB:LGCXF, FSE:Y2F) has announced an increase to its non-brokered private placement, responding to significant investor interest. The company will now offer up to 33,902,439 units at CAD$0.41 each, aiming for gross proceeds of up to CAD$13.9 million. Each unit includes one common share and half of a purchase warrant, which allows holders to buy an additional share at CAD$0.60 over the next two years. Should the share price reach CAD$1.00 for 10 consecutive trading days after four months, the company may accelerate the expiration of the warrants.
CEO Kimberly Ann highlighted the strong support from shareholders and new investors, who recognize the potential of Lahontan's Santa Fe Mine and West Santa Fe projects in Nevada. The proceeds from this offering will support general working capital and exploration efforts at these sites. Lahontan is actively pursuing mining permits and planning drilling operations, with 2026 expected to be crucial for the company's growth.
The offering's completion is contingent upon necessary regulatory approvals and is not available to investors in the United States. This revised offering comes from increased demand since the previous press release on March 12, 2026. Lahontan Gold Corp. continues to push towards developing its mining projects and enhancing shareholder value through strategic exploration and operational advancements in the mining-friendly region of Nevada.
For further details, interested parties are encouraged to visit the company's website or contact their office.
MWN-AI** Analysis
Lahontan Gold Corp.’s recent decision to upsize its private placement to CAD$13.9 million amid robust investor interest is a notable indicator of confidence in the company’s growth trajectory and mining assets, particularly the Santa Fe and West Santa Fe projects in Nevada. With each unit priced at CAD$0.41, investors gain a rare opportunity to acquire not just common shares, but also warrants that could amplify their returns if the stock appreciates significantly, given the CAD$0.60 strike price for the warrants.
This financing round highlights strong demand from both existing and new investors, reflecting positive sentiment around Lahontan's operational strategies. The executive chair, Kimberly Ann, emphasized the company's commitment to securing operational permits and pursuing exploration initiatives, suggesting that they are positioning themselves for an active exploration and development phase in 2026. With past production at the Santa Fe Mine and proven resources, investors might view Lahontan as well-placed to capitalize on the ongoing gold market dynamics.
Given the company's plans for drilling at the West Santa Fe project and the expected updates to the Preliminary Economic Assessment, the potential for resource expansion and subsequent value creation is compelling. However, it’s important for investors to remain mindful of the inherent risks in mining explorations, including regulatory approvals and market conditions.
For current shareholders, the private placement may serve to bolster liquidity and financial stability, enhancing Lahontan's capability to advance its projects. Potential investors should consider the stock's performance closely post-offering, particularly around milestone events associated with the exploration programs. The strategic decisions made in the upcoming year could define the company’s market positioning, thereby influencing its stock valuation in both the short and long term.
**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 17, 2026 (GLOBE NEWSWIRE) -- Lahontan Gold Corp. (TSXV:LG, OTCQB:LGCXF, FSE:Y2F) (the "Company" or "Lahontan") is pleased to announce that, further to its press release of March 12, 2026 and due to investor demand, the Company has upsized its non-brokered private placement to up to 33,902,439 units (each, a "Unit") in the capital of the Company at a price of CAD$0.41 per Unit for gross proceeds of up to CAD$13,900,000 (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 CAD$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 CAD $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.
Kimberly Ann, Lahontan Gold Executive Chair, CEO, President, and Founder commented: “Lahontan Gold is very pleased with the overwhelming support for this equity financing from existing shareholders, institutional investors, and new individual investors who clearly see and understand our path forward with the Santa Fe Mine and West Santa Fe projects in mining friendly Nevada. We continue to aggressively pursue mine operating permits and new step-out drilling at Santa Fe, while preparing for additional drilling at our exciting West Santa Fe project. 2026 promises to be a transformative year for Lahontan and we look forward to continued success at all our projects.”
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's recent upsizing of the private placement and the associated investor interest impact its partnerships, especially in relation to Long Chen Paper Co Ltd LGCXF?
What specific projects at the Santa Fe Mine and West Santa Fe are being prioritized for the gross proceeds raised, and how might this impact future collaborations with entities like Long Chen Paper Co Ltd LGCXF?
Considering the potential for a Reduced Warrant Term, how does Lahontan Gold Corp plan to manage investor expectations and align interests with stakeholders such as Long Chen Paper Co Ltd LGCXF during this period?
What strategies is Lahontan Gold Corp implementing to ensure regulatory compliance for the Offering, particularly in relation to investors outside Canada and the U.S., including those potentially linked to Long Chen Paper Co Ltd LGCXF?
**MWN-AI FAQ is based on asking OpenAI questions about Long Chen Paper Co Ltd (OTC: LGCXF).
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