BLLG.CN · 2025-03-05 17:20:49

Blue Lagoon Completes First Tranche Of Private Placement

C.BLLG

| March 4, 2025

(TheNewswire)

March 4, 2025

–

Vancouver, British

Columbia

TheNewswire -

Blue

Lagoon

Resources

Inc.

(the “

Company

”)

(CSE:

BLLG;

FSE:

7BL;

OTCQB:

BLAGF)

is pleased to announce that it has closed the first tranche of the non-brokered private placement offering (the “

Offering

”) previously announced by the Company on February 24, 2025. The Company issued 2,390,000

units (the “

Units

”) at a price of $0.25 per Unit for aggregate gross proceeds of $597,500.

Each Unit consists of one common share in the capital of the Company and one-half of one transferrable common share purchase warrant. Each whole warrant (a “

Warrant

”) entitles the holder to purchase one additional common share of the Company at an exercise price of $0.35 per share until March 4, 2027.

The proceeds raised from the Offering are expected to be used to advance the Dome Mountain gold project that recently received it mining permits and for general corporate purposes. The securities issued under the Offering are subject to a four month hold period expiring on July 5, 2025, in accordance with applicable Canadian securities laws.

The Company also announces that in order to preserve its cash flow, the Company will issue 70,175 common shares at a price of $0.285 in lieu of an advanced NSR payment in connection with its Freegold claims.

For

further

information,

please

contact:

Rana

Vig

President

and

Chief

Executive

Officer

Telephone:

604-218-4766

Email:

[email protected]

The

CSE

has

not

reviewed

and

does

responsibility

for

the

adequacy

accuracy

this

release.

Not for distribution to United States Newswire Services or for dissemination in the United States

Tags:

GOLD