Lahontan Gold Corp. announced a best efforts private placement of 50,000,000 units of at a price of CAD 0.06 per unit for aggregate gross proceeds of up to CAD 3,000,000 on April 10, 2024. Each unit shall be comprised of one common share of the company and one-half of one common share purchase warrant of the company.

Each warrant will be exercisable to acquire one common share for a period of 36 months from the closing date of the Offering at a price of CAD 0.10 per warrant share. The Offering is expected to close on or about April 30, 2024 and 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. The securities issued in connection with this Offering will be subject to a four-month hold period from the date of closing of the Offering in addition to any other restrictions under applicable law.

The company will pay the Agents a cash commission of 7% of the aggregate gross proceeds of the Offering, other than for sales to certain purchasers identified by the company, for which a 3.5% cash commission will be payable. The company will also issue to the Agents non-transferable broker warrants equal to 7% of the number of units sold under the Offering, each exercisable to acquire one common share at the issue price for a period of 36 months from the closing date.