Lahontan Gold Corp. Secures C$10.4M in First Tranche of Private Placement

March 23, 2026 – Lahontan Gold Corp. (TSXV: LG | OTCQB: LGCXF | FSE: Y2F) has successfully closed the first tranche of a non-brokered private placement, raising C$10.38 million, according to a recent announcement. The Assay reported the closing earlier today.

Details of the Private Placement

The company issued 25,310,244 units at a price of C$0.41 per unit. Each unit comprises one common share and one-half of a warrant. A full warrant is exercisable at C$0.60 for a period of two years.

Warrant Acceleration Clause

The warrants issued include an acceleration clause. If Lahontan’s shares trade at or above C$1.00 for ten consecutive trading days following the four-month statutory hold period, the company has the option to shorten the warrant expiry to 30 business days by issuing a press release.

Use of Funds

The funds raised through this private placement will be allocated to support exploration activities at Lahontan’s Santa Fe Mine and West Santa Fe projects, both located in Nevada. A portion of the proceeds will also be used for general working capital.

Securities and Restrictions

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

Related Party Transaction

An insider participated in the financing, acquiring 60,000 units. The transaction is considered a related-party transaction under TSXV Policy 5.9 and MI 61‑101. However, Lahontan is relying on exemptions from valuation and minority approval requirements, as the insider’s participation represents less than 25% of the company’s market capitalization.

Financing Expediency

Lahontan did not file a material change report 21 days prior to closing, citing the need to complete the financing expeditiously.

Upcoming Event

Investors can meet with Lahontan Gold at the London Spring event on May 11-12, 2026. Registration is available here.