Lavras Gold Corp. Announces Closing of $10 Million Public Offering
Lavras Gold Corp. Announces Closing of $10
Million Public Offering
Toronto, Ontario--(Newsfile Corp. - January 29, 2026) -
Lavras Gold Corp. (TSXV: LGC) (OTCQX:
LGCFF)
("
Lavras Gold
" or the "
Compan
y") is pleased to announce that, further to its press release of
January 21, 2026, it has completed its previously announced "bought deal" public offering, pursuant to
which the Company issued an aggregate of 2,942,000 common shares of the Company (each, a
"
Share
") at a price of C$3.40 (the "
Offering Price
") per Share for gross proceeds of C$10,002,800 to
the Company. The Shares were sold pursuant to an underwriting agreement dated January 23, 2026,
between the Company, Canaccord Genuity Corp. ("
Canaccord
") and Paradigm Capital Inc. (together
with Canaccord, the "
Co-Lead Underwriters
"), as co-lead underwriters, Research Capital Corporation
and Raymond James Ltd. (together with the Co-Lead Underwriters, the "
Underwriters
").
The Shares were offered to the public in Canada by way of a prospectus supplement (the "
Prospectus
Supplement
") dated January 23, 2026, to the Company's short form base shelf prospectus dated
November 26, 2024, filed in all of the provinces of Canada except for Quebec. The Shares were also
offered by way of private placement in the United States and in offshore jurisdictions. The Offering
remains subject to final acceptance of the TSX Venture Exchange.
In connection with the Offering, the Underwriters were paid an aggregate cash commission of 6% on the
gross proceeds of the Offering, subject to reduced cash commissions in respect of the President's List.
The Company will use the net proceeds of the Offering for project development, exploration and resource
drilling and general corporate purposes.
The Offering constituted a related party transaction within the meaning of TSX Venture Exchange Policy
5.9 and Multilateral Instrument 61-101 -
Protection of Minority Security Holders in Special Transactions
("
MI 61-101
") as an insider of the Company purchased 7,350 Shares pursuant to the Offering. The
Company is relying on the exemptions from the valuation and minority shareholder approval
requirements of MI 61-101 contained in sections 5.5(b) and 5.7(1)(a) of MI 61-101, as the Company is
not listed on a specified market and the fair market value of the participation in the Offering by the insider
does not exceed 25% of the market capitalization of the Company in accordance with MI 61-101. The
Company did not file a material change report in respect of the related party transaction at least 21 days
before the closing of the Offering, which the Company deems reasonable in the circumstances in order
to complete the Offering in an expeditious manner.
The Shares have not been, nor will they be, registered under the United States Securities Act of 1933,
as amended (the "
U.S. Securities Act
"), and may not be offered or sold in the United States absent
registration or an applicable exemption from the registration requirements of the U.S. Securities Act.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall
there be any sale of the Shares in any State in which such offer, solicitation or sale would be unlawful.
About Lavras Gold Corp.
Lavras Gold Corp. (TSXV: LGC) (OTCQX: LGCFF) is a Canadian exploration company focused on
realizing the potential of its LDS Project situated in a highly prospective gold district in southern Brazil.
The LDS Project is located near the town of Lavras do Sul in Rio Grande do Sul, in Rio Grande do Sul
State of Brazil 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 LDS Project properties,
which span more than 23,000 hectares. Follow Lavras Gold on
www.lavrasgold.com
, as well as on
,
, and
YouTube
.
On Behalf of Lavras Gold Corp.
"
Hemdat Sawh
"
Interim President & CEO, and CFO
For further information, please visit the Lavras Gold Corp. website at
www.lavrasgold.com
, or contact:
Hemdat Sawh, Interim President & CEO, and CFO
Phone: +1-289-624-1375
Email:
Website:
www.lavrasgold.com
X (Twitter):
@LavrasGold
LinkedIn:
https://www.linkedin.com/company/lavras-gold-corp
Disclaimer:
Neither 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.
Forward looking statements:
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, are forward-looking statements that involve various risks and uncertainties,
including regarding the receipt of all necessary approvals, including final acceptance of the TSX
Venture Exchange. 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.
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/282026