Lode Gold Announces $1,000,000 Financing
Lode Gold Resources (TSXV: LOD) (OTCQB: LODFF) has announced a non-brokered financing initiative to raise $1,000,000. The financing structure includes units priced at $0.18, with each unit comprising one common share and one purchase warrant. The warrants allow holders to purchase additional common shares at $0.35 each within a three-year period from closing.
The company intends to use the proceeds for strategic initiatives and business plan execution. The financing is expected to conclude by March 10, 2025, coinciding with the Annual General Meeting where shareholders will vote on the Plan of Arrangement. Notably, Lode Gold shareholders will receive shares in Gold Orogen while maintaining their existing Lode Gold holdings.
Lode Gold Resources (TSXV: LOD) (OTCQB: LODFF) ha annunciato un'iniziativa di finanziamento non mediata per raccogliere $1.000.000. La struttura di finanziamento comprende unità al prezzo di $0,18, con ogni unità composta da un'azione comune e un warrant di acquisto. I warrant consentono ai detentori di acquistare ulteriori azioni comuni a $0,35 ciascuna entro un periodo di tre anni dalla chiusura.
La società intende utilizzare i proventi per iniziative strategiche e l'esecuzione del piano aziendale. Si prevede che il finanziamento si concluda entro il 10 marzo 2025, in coincidenza con l'Assemblea Generale Annuale in cui gli azionisti voteranno sul Piano di Accordo. È importante notare che gli azionisti di Lode Gold riceveranno azioni in Gold Orogen mantenendo le loro attuali partecipazioni in Lode Gold.
Lode Gold Resources (TSXV: LOD) (OTCQB: LODFF) ha anunciado una iniciativa de financiamiento no mediada para recaudar $1,000,000. La estructura de financiamiento incluye unidades con un precio de $0.18, donde cada unidad consta de una acción común y un warrant de compra. Los warrants permiten a los tenedores comprar acciones comunes adicionales a $0.35 cada una dentro de un período de tres años a partir del cierre.
La compañía tiene la intención de utilizar los ingresos para iniciativas estratégicas y la ejecución del plan de negocios. Se espera que el financiamiento concluya para el 10 de marzo de 2025, coincidiendo con la Junta General Anual donde los accionistas votarán sobre el Plan de Arreglo. Notablemente, los accionistas de Lode Gold recibirán acciones en Gold Orogen mientras mantienen sus participaciones existentes en Lode Gold.
Lode Gold Resources (TSXV: LOD) (OTCQB: LODFF)는 $1,000,000을 모금하기 위한 비중개 금융 계획을 발표했습니다. 금융 구조는 $0.18에 가격이 책정된 단위로 구성되며, 각 단위는 하나의 보통주와 하나의 매입 보증서로 이루어져 있습니다. 보증서는 보유자가 마감일로부터 3년 이내에 각각 $0.35에 추가 보통주를 구매할 수 있도록 합니다.
회사는 수익금을 전략적 이니셔티브와 사업 계획 실행에 사용할 계획입니다. 이 금융은 2025년 3월 10일까지 마무리될 것으로 예상되며, 주주들이 정관 변경안에 대해 투표하는 연례 총회와 일치합니다. 특히, Lode Gold의 주주들은 기존 Lode Gold 보유 지분을 유지하면서 Gold Orogen의 주식을 받을 것입니다.
Lode Gold Resources (TSXV: LOD) (OTCQB: LODFF) a annoncé une initiative de financement non médiée pour lever $1,000,000. La structure de financement comprend des unités au prix de 0,18 $, chaque unité se composant d'une action ordinaire et d'un bon de souscription. Les bons de souscription permettent aux détenteurs d'acheter des actions ordinaires supplémentaires à 0,35 $ chacune dans un délai de trois ans à compter de la clôture.
La société prévoit d'utiliser les produits pour des initiatives stratégiques et l'exécution de son plan d'affaires. Le financement devrait être conclu d'ici le 10 mars 2025, coïncidant avec l'Assemblée Générale Annuelle où les actionnaires voteront sur le Plan d'Arrangement. Notamment, les actionnaires de Lode Gold recevront des actions de Gold Orogen tout en conservant leurs participations existantes dans Lode Gold.
Lode Gold Resources (TSXV: LOD) (OTCQB: LODFF) hat eine nicht vermittelte Finanzierungsinitiative zur Beschaffung von $1.000.000 angekündigt. Die Finanzierungsstruktur umfasst Einheiten, die zu $0,18 bewertet sind, wobei jede Einheit aus einer Stammaktie und einem Kaufwarrant besteht. Die Warrants erlauben es den Inhabern, innerhalb eines Zeitraums von drei Jahren nach Abschluss zusätzliche Stammaktien zu einem Preis von $0,35 zu erwerben.
Das Unternehmen beabsichtigt, die Erlöse für strategische Initiativen und die Umsetzung des Geschäftsplans zu verwenden. Die Finanzierung wird voraussichtlich bis zum 10. März 2025 abgeschlossen sein, was mit der Jahreshauptversammlung zusammenfällt, bei der die Aktionäre über den Arrangementplan abstimmen werden. Erwähnenswert ist, dass die Aktionäre von Lode Gold Aktien in Gold Orogen erhalten, während sie ihre bestehenden Lode Gold Bestände beibehalten.
- Secured $1,000,000 in new financing
- Three-year warrant term provides extended investment opportunity
- Shareholders to receive additional shares in Gold Orogen while retaining Lode Gold shares
- Potential dilution of existing shareholders through new share issuance
- 94.4% premium on warrant exercise price ($0.35) compared to unit price ($0.18) may impact warrant conversion rate
Toronto, Ontario--(Newsfile Corp. - February 15, 2025) - Lode Gold Resources Inc. (TSXV: LOD) (OTCQB: LODFF) ("Lode Gold " or the "Company") announces a non-brokered financing for
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The proceeds raised from the offering will go toward strategic initiatives and the execution of the business plan.
The Company plans to finalize this financing on or before March 10, 2025. The Annual General Meeting (AGM) and shareholder meeting will be held on March 10, 2025 to approve the Plan of Arrangement. Lode Gold shareholders, as of a specified record date, will be eligible to receive shares of Gold Orogen while retaining their existing shares of Lode Gold.
About Lode Gold
Lode Gold (TSXV: LOD) is an exploration and development company with projects in highly prospective and safe mining jurisdictions in Canada and the United States.
In Canada, its Golden Culvert and WIN Projects in Yukon, covering 99.5 km2 across a 27-km strike length, are situated in a district-scale, high grade gold mineralized trend within the southern portion of the Tombstone Gold Belt. A total of four RIRGS targets have been confirmed on the property. A NI 43-101 technical report has been completed in May 2024.
In New Brunswick, Lode Gold has created one of the largest land packages with its Acadian Gold JV Co; consisting of an area that spans 445 km2 and a 44 km strike. McIntyre Brook covers 111 km2 and a 17-km strike in the emerging Appalachian/Iapetus Gold Belt; it is hosted by orogenic rocks of similar age and structure as New Found Gold's Queensway Project. Riley Brook is a 335 km2 package covering a 26 km strike of Wapske formation with its numerous felsic units. A NI 43-101 technical report has been completed in August 2024.
In the United States, the Company is advancing its Fremont Gold project. This is a brownfield project with over 43,000 m drilled and 23 km of underground workings. It was previously mined at 10.7 g/t Au in the 1940's.
Mining was halted in 1942 due the gold prohibition in WWII just as it was ramping up production. Unlike typical brownfield projects that are mined out; only
The project is located on 3,351 acres of private and patented land in Mariposa County. The asset is a 4 km strike on the prolific 200 km Mother Lode Gold Belt, California that produced over 50,000,000 oz of gold and is instrumental in the creation of the towns, the businesses and infrastructure in the 1800s gold rush. It is 1.5 hours from Fresno, California. The property has year-round road access and is close to airports and rail.
Previously, in March 2023 the company completed an NI 43-101 Preliminary Economic Assessment ("PEA"). Project Valuation has an after-tax NPV (
All NI 43-101 technical reports are available on the Company's profile on SEDAR+ (www.sedarplus.ca) and the Company's website (www.lode-gold.com).
QUALIFIED PERSON STATEMENT
The scientific and technical information contained in this press release has been reviewed and approved by Jonathan Victor Hill, Director, BSc (Hons) (Economic Geology - UCT), FAusIMM, and who is a "qualified person" as defined by NI-43-101.
ON BEHALF OF THE COMPANY
Wendy T. Chan, CEO & Director
Information Contact
Winfield Ding
CFO
info@lode-gold.com
+1-416-915-4257
Kevin Shum
Investor Relations
kevin@lode-gold.com
+1 (647) 725-3888 ext. 702
Cautionary Note Related to this News Release and Figures
This news release contains information about adjacent properties on which the Company has no right to explore or mine. Readers are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on the Company's properties.
Cautionary Statement Regarding Forward-Looking Information
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release includes "forward-looking statements" and "forward-looking information" within the meaning of Canadian securities legislation. All statements included in this news release, other than statements of historical fact, are forward-looking statements including, without limitation, statements with respect to the completion of the transaction and the timing thereof, the expected benefits of the transaction to shareholders of the Company, the structure, terms and conditions of the transaction and the execution of a definitive agreement, the timing of submission to the CSE and TSXV, Gold Orogen raising an additional
Forward-looking statements are based on a number of assumptions and estimates that, while considered reasonable by management based on the business and markets in which the Company operates, are inherently subject to significant operational, economic, and competitive uncertainties, risks and contingencies. These include assumptions regarding, among other things: that the Company and GRM will be able to negotiate the definitive agreement on the terms and within the time frame expected, that the Company and GRM will be able to make submissions to the CSE and TSXV within the time frame expected, that the Company and GRM will be able to obtain shareholder approval for the transaction, that the Company and GRM will be able to obtain necessary third party and regulatory approvals required for the transaction, if completed, that the transaction will provide the expected benefits to the Company and its shareholders.
There can be no assurance that forward-looking statements will prove to be accurate and actual results, and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include adverse market conditions, general economic, market or business risks, unanticipated costs, the failure of the Company and GRM to negotiate the definitive agreement on the terms and conditions and within the timeframe expected, the failure of the Company and GRM to make submissions to the CSE and TSXV within the timeframe expected, the failure of the Company and GRM to obtain shareholder approval for the transaction, the failure of the Company and GRM to obtain all necessary approvals for the transaction, and r other risks detailed from time to time in the filings made by the Company with securities regulators, including those described under the heading "Risks and Uncertainties" in the Company's most recently filed MD&A. The Company does not undertake to update or revise any forward-looking statements, except in accordance with applicable law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/241117
FAQ
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