- Lahontan Gold (OTCQB:LGCXF) announced an agreement with Beacon Securities on Wednesday in connection with a private placement offering of shares of the company at $0.06 each for aggregate gross proceeds of up to $3 million.
- Each unit will have to consist of one common share of the company and one-half of one common share purchase warrant of the company.
- Each warrant would be exercisable to acquire one share of common stock for a period of 36 months from the closing date of the offering for $0.10 per warrant share.
- The company said it intends to use the net proceeds from the offering for project exploration activities, working capital and general corporate purposes of the company.
- Source: press release
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