Lavras Gold Announces $10 Million Best Efforts Public Offering The Base Shelf Prospectus is accessible, and the Prospectus Supplement will be accessible within two business days, through SEDAR+
Lavras Gold Announces $10 Million Best
Efforts Public Offering
The Base Shelf Prospectus is accessible, and the Prospectus
Supplement will be accessible within two business days,
through SEDAR+
Toronto, Ontario--(Newsfile Corp. - January 30, 2025) -
Lavras Gold Corp.
(TSXV: LGC) (OTCQX:
LGCFF) ("
Lavras
" or the "
Company
") is pleased to announce a "best efforts" public offering (the
"
Offering
") for the sale of 4,546,000 common shares of the Company (the "
Shares
") at a price of
C$2.20 per Share (the "
Offering Price
") for gross proceeds of C$10,001,200. In connection with the
Offering, the Company has entered into an agreement with Paradigm Capital Inc. ("
Paradigm
") and
Canaccord Genuity to act as co-lead agents and joint bookrunners on behalf of a syndicate of agents
(collectively, the "
Agents
").
The Company will grant the Agents an option, exercisable, in whole or in part, for up to 30 days following
the closing of the Offering, to sell the number of Shares equal to up to an additional 15% of the Shares
sold pursuant to the Offering at the Offering Price to cover over-allotments, if any.
The net proceeds from the Offering will be used for exploration and development of its mineral properties
comprising its LDS Project, and general working capital purposes.
The Company intends to file a prospectus supplement (the "
Prospectus Supplement
") to its short form
base shelf prospectus dated November 26, 2024 (the "
Base Shelf Prospectus
") on February 3, 2025.
The Prospectus Supplement will be filed with the securities regulatory authorities in each of the
provinces and territories of Canada, except Québec. The Shares may also be offered by way of private
placement in the United States and in offshore jurisdictions. Delivery of the Base Shelf Prospectus and
the Prospectus Supplement and any amendments thereto will be satisfied in accordance with the
"access equals delivery" provisions of applicable Canadian securities legislation. An electronic or paper
copy of the Base Shelf Prospectus and the Prospectus Supplement, when available, may be obtained,
without charge, from Paradigm by e-mail at
by providing Paradigm with an
email address or address, as applicable. Prospective investors should read the Base Shelf Prospectus
and Prospectus Supplement and the documents incorporated by reference therein, as filed by the
Company on SEDAR+ at
www.sedarplus.ca
, before making an investment decision.
The Offering is expected to close on or about February 6, 2025 and is subject to Lavras receiving all
necessary regulatory approvals, including the acceptance of the Offering by the TSX Venture Exchange.
[One or more insiders of the Company are expected to participate in the Offering, and their participation
will be considered to be a "related party transaction" as defined under Multilateral Instrument 61-101,
Protection of Minority Security Holders in Special Transactions ("
MI 61-101
"). The Offering will be
exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 on the
basis that such participation will be less than 25% of the Company's market capitalization, calculated in
accordance with MI 61-101].
The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and
may not be offered or sold in the United States absent registration or an applicable exemption from the
registration requirements. This news release shall not constitute an offer to sell or the solicitation of an
offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation
or sale would be unlawful.
About Lavras Gold
Lavras Gold Corp. (TSXV: LGC) (OTCQX: LGCFF) is a Canadian exploration company focused on
realizing the potential of a multi-million-ounce gold district in southern Brazil. Its Lavras do Sul Project is
located in Rio Grande do Sul State, and is primarily an intrusive hosted gold system of possible alkaline
affinity. More than 24 gold prospects centred on historic gold workings have been identified on the
property, which spans more than 23,000 hectares. Follow Lavras Gold on
http://www.lavrasgold.com/
, as well as on
,
, and
YouTube
.
Contact information
Michael Durose, President & CEO
or
Naomi Nemeth, VP Investor Relations
Phone: +1-289-624-1343 or +1-289-624-1377
Email:
Instagram:
lavrasgold
Website:
www.lavrasgold.com
X (Twitter):
@LavrasGold
LinkedIn:
Lavras Gold Corp.
DISCLAIMER AND FORWARD-LOOKING INFORMATION
This news release includes certain "forward-looking information" within the meaning of Canadian
securities legislation and "forward-looking statements" within the meaning of the United States Private
Securities Litigation Reform Act of 1995 (collectively "forward looking statements"). Forward-looking
statements include predictions, projections and forecasts and are often, but not always, identified by
the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "forecast", "expect",
"potential", "project", "target", "schedule", "budget" and "intend" and statements that an event or result
"may", "will", "should", "could" or "might" occur or be achieved and other similar expressions and
includes the negatives thereof. All statements other than statements of historical fact included in this
release, including, without limitation, statements regarding the Offering and the use of proceeds in
respect thereof, are forward-looking statements that involve various risks and uncertainties. There can
be no assurance that such statements will prove to be accurate and actual results and future events
could differ materially from those anticipated in such statements. Forward-looking statements are
based on a number of material factors and assumptions. Important factors that could cause actual
results to differ materially from Company's expectations include actual exploration results, changes in
project parameters as plans continue to be refined, results of future resource estimates, future metal
prices, availability of capital and financing on acceptable terms, general economic, market or
business conditions, uninsured risks, regulatory changes, defects in title, availability of personnel,
materials and equipment on a timely basis, accidents or equipment breakdowns, delays in receiving
government approvals, unanticipated environmental impacts on operations and costs to remedy
same, and other exploration or other risks detailed herein and from time to time in the filings made by
the Company with securities regulators.
Although the Company has attempted to identify important factors that could cause actual actions,
events or results to differ from those described in forward-looking statements, there may be other
factors that cause such actions, events or results to differ materially from those anticipated. There can
be no assurance that forward-looking statements will prove to be accurate and accordingly readers are
cautioned not to place undue reliance on forward-looking statements. For a discussion of risk factors
which could adversely affect the forward looking statements, see the Company's public record filings
at
www.sedarplus.ca
.
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.
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/239055