Lara Raises $3.085 Million From Accelerated Exercise of 2022 Warrants
Lara Raises $3.085 Million From Accelerated
Exercise of 2022 Warrants
Vancouver, British Columbia--(Newsfile Corp. - November 27, 2024) - Lara Exploration Ltd. (TSXV:
LRA) ("Lara" or the "Company") is pleased to report that 3,085,943 warrants (including 9,000 broker
warrants) to purchase common shares were exercised, for gross proceeds to the Company totalling
C$3,085,943. The remaining 760 broker warrants that were not exercised expired at 3:00p.m.
(Vancouver time) on November 26, 2024.
The proceeds from the exercise of these Warrants will be primarily used by the Company to continue to
develop its flagship Planalto Copper-Gold Project in Brazil, as well as for general corporate and working
capital purposes.
Post the exercise of these remaining warrants from our 2022 private placement financing, the Company
has 49,434,772 shares outstanding, 53,494,772 on a fully diluted basis, with approximately C$5.6
million in treasury.
About Lara Exploration
Lara is an exploration company following the Prospect and Royalty Generator business model, which
aims to minimize shareholder dilution and financial risk by generating prospects and exploring them in
joint ventures funded by partners, retaining a minority interest and or a royalty. The Company currently
holds a diverse portfolio of prospects, deposits and royalties in Brazil, Peru and Chile. Lara's common
shares trade on the TSX Venture Exchange under the symbol "LRA".
For further information on Lara Exploration Ltd. please consult our website
www.laraexploration.com
, or
contact Chris MacIntyre, VP Corporate Development, at +1 416 703 0010.
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.
No stock exchange, securities commission or other regulatory authority has approved or
disapproved the information contained herein.
Cautionary Statement on Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable Canadian
securities legislation based on expectations, estimates and projections as at the date of this news
release. Any statement that involves predictions, expectations, interpretations, beliefs, plans,
projections, objectives, assumptions, future events or performance are not statements of historical fact
and constitute forward-looking information. This news release may contain forward-looking information
pertaining to the Planalto Copper-Gold Project, including, among other things, the ability to identify
additional resources and reserves (if any) and exploit such resources and reserves on an economic
basis; the preparation of a Preliminary Economic Assessment; the conduct of additional drilling; and
upgrading of current mineral resource estimates.
Forward-looking information is not a guarantee of future performance and is based upon a number of
estimates and assumptions of management, in light of management's experience and perception of
trends, current conditions and expected developments, as well as other factors that management
believes to be relevant and reasonable in the circumstances, including, without limitation,
assumptions about: favourable equity and debt capital markets; the ability and timing of funding to
advance the development of the Planalto Project and pursue planned exploration and development;
future spot prices of copper, gold and other minerals; the timing and results of exploration and drilling
programs; the accuracy of mineral resource estimates; production costs; political and regulatory
stability; the receipt of governmental and third party approvals; licenses and permits being received
on favourable terms; sustained labour stability; stability in financial and capital markets; availability of
mining equipment and positive relations with local communities and groups. There is no assurance
that all or any of the Warrants will be exercised. Forward-looking information involves risks,
uncertainties and other factors that could cause actual events, results, performance, prospects and
opportunities to differ materially from those expressed or implied by such forward-looking information.
Factors that could cause actual results to differ materially from such forward-looking information are
set out in the Company's public disclosure record on SEDAR+ (
www.sedarplus.ca
) under the
Company's issuer profile. Although the Company believes that the assumptions and factors used in
preparing the forward-looking information in this news release are reasonable, undue reliance should
not be placed on such information, which only applies as of the date of this news release, and no
assurance can be given that such events will occur in the disclosed time frames or at all. The
Company disclaims any intention or obligation to update or revise any forward-looking information,
whether as a result of new information, future events or otherwise, other than as required by law.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/231530