Labrador Gold extends private placement deadline to November 6

Labrador Gold Corp. (TSX.V: LAB) has extended its non-brokered private placement offering by up to 30 days, with the offering now set to close no later than November 6, 2026, according to a press release from the company.

The offering consists of common shares and flow-through shares, each priced at $0.05 per share, with aggregate gross proceeds targeted between $2,000,000 and $7,000,000, representing between 40,000,000 and 140,000,000 shares.

The company closed a first tranche with lead investors Matachewan Consolidated Mines, Limited (TSX.V: MCM-A) and McChip Resources Inc. (TSX.V: MCS), raising $2,133,790.45 through the issuance of 42,675,809 flow-through shares. A second tranche is expected to close on or about October 23, 2026.

Four company insiders plan to subscribe for 8,700,000 flow-through shares and 3,000,000 common shares in the second tranche for a combined $585,000. The insider participation is exempt from valuation and minority shareholder approval requirements under Multilateral Instrument 61-101.

The lead investors intend to subscribe for additional common shares such that, together with the flow-through shares acquired in the first tranche, they will collectively hold up to 19.99% of the company's issued and outstanding common shares following completion of the offering.

Proceeds from the flow-through shares will fund Canadian exploration expenses qualifying as flow-through mining expenditures under the Income Tax Act (Canada). Proceeds from the common shares will be used for exploration, development, working capital, and general corporate purposes.

All securities issued under the offering are subject to a four-month-and-one-day hold period under Canadian securities laws. The offering remains subject to final acceptance by the TSX Venture Exchange. The company stated it does not intend to pay finder's fees in connection with the offering.

Labrador Gold has 213,485,788 common shares issued and outstanding.

You May Also Be Interested In

• Labrador Gold closes $2.1M first tranche of private placement
• Galleon Gold upsizes non-brokered placement with Pan American to $7M
• Dios Exploration plans $600K private placement for Quebec gold drilling