Lavras Gold raises C$10 million in public offering

Lavras Gold Corp. (TSX-V: LGC, OTCQX: LGCFF) announced it has entered into an agreement with Canaccord Genuity Corp. and a syndicate of underwriters to sell 2,942,000 common shares at C$3.40 per share for gross proceeds of approximately C$10,002,800.

The underwriters have been granted an over-allotment option to purchase up to an additional 441,300 shares at the same price within 30 days after closing, which would provide additional gross proceeds of approximately C$1,500,420 if exercised in full.

The company plans to use net proceeds from the offering for project development, exploration and resource drilling, and general corporate purposes.

The shares will be offered through a prospectus supplement to the company's short form base shelf prospectus dated November 26, 2024, to be filed in all Canadian provinces except Quebec. The shares may also be offered through private placement in the United States and offshore jurisdictions.

The offering is expected to close on or before January 29, 2026, subject to regulatory and stock exchange approvals, including approval from the TSX Venture Exchange.

Lavras Gold is a Canadian exploration company focused on its LDS Project in southern Brazil. The project is located near Lavras do Sul in Rio Grande do Sul State and spans more than 23,000 hectares with over 24 identified gold prospects.

You May Also Be Interested In

• Silver Storm closes $21M private placement with second tranche
• Lobe Sciences closes $2.16M private placement for S-100 drug program
• StrategX extends private placement deadline to September 30