Lode Gold closes $1.51 million private placement financing

Lode Gold Resources Inc. (TSXV: LOD) (OTCQB: LODFF) completed a private placement offering that raised $1,513,768, exceeding the initially announced $1.0 million target. The company issued 8,409,825 units at $0.18 per unit across three tranches.

Each unit includes one common share and one warrant. The warrants allow holders to purchase additional shares at $0.35 each within 36 months of closing. Lode Gold may accelerate the warrant expiry if shares trade at $0.65 or higher for 10 consecutive days.

The company paid $16,039 in finder's fees and issued 89,100 finder's warrants with the same terms as the regular warrants. Company insiders purchased 1,022,111 units in the placement. All securities are subject to a four-month statutory hold period and require final acceptance from the TSX Venture Exchange.

Proceeds will fund business plans for Lode Gold and its subsidiary Gold Orogen. The company announced several corporate changes alongside the financing.

Winfield Ding resigned as chief financial officer effective immediately. Wayne Moorhouse will serve as acting CFO while the company searches for a permanent replacement. Moorhouse previously held CFO positions at Roxgold Inc., Midnight Sun Mining Corp., and other mining companies.

Lode Gold extended its construction loan with Romspen Investment Corporation to October 31, 2025. The company will pay $200,000 in interest, consisting of $100,000 cash and $100,000 in shares pending exchange approval.

The company disclosed that a court ruled in favor of a former CEO's severance claim, ordering payment of $222,469. Lode Gold stated this amount was already accrued in prior financial records and will not materially impact 2025 results.

Lode Gold operates exploration and development projects in Canada and the United States, including assets in Yukon, New Brunswick, and the Fremont Mine in California.

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