Lahontan Provides Corporate Update
Rhea-AI Summary
Lahontan Gold Corp (TSXV:LG)(OTCQB:LGCXF) has announced two significant updates. Firstly, Ms. Kimberly Ann, the company's Founder, CEO, President, and Director, has been appointed Executive Chair by the Board of Directors, effective immediately. Secondly, the company provided an update on the block of Lahontan common shares held by Victoria Gold Corp (VGCX).
Following a court order, PricewaterhouseCoopers Inc. has been appointed as the receiver and manager of VGCX's assets. As a result, the VGCX share block cannot be sold without court approval. Lahontan's management believes this will allow for an orderly sale of the Lahontan common shares held by VGCX. The company is actively working to assist in any potential sale process to ensure the best outcome for Lahontan shareholders.
AI-generated analysis. Not financial advice.
Positive
- Appointment of Kimberly Ann as Executive Chair, potentially strengthening leadership
- Court-ordered management of VGCX's assets may lead to an orderly sale of Lahontan shares
Negative
- Uncertainty surrounding the sale of a significant block of Lahontan shares held by VGCX
News Market Reaction – LGCXF
On the day this news was published, LGCXF gained 10.24%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
TORONTO, ON / ACCESSWIRE / August 23, 2024 / Lahontan Gold Corp (TSXV:LG)(OTCQB:LGCXF) (the " Company " or " Lahontan ") reports that Ms. Kimberly Ann, Lahontan Founder, CEO, President, and Director, has been appointed Executive Chair by the Company's Board of Directors, effective immediately.
The Company would also like to provide an update on the status of the block of Lahontan common shares held by Victoria Gold Corp ("VGCX"). As announced by VGCX on August 15, 2024, the Ontario Superior Court of Justice ("the Court") granted an order ("the Order") appointing PricewaterhouseCoopers Inc. as the receiver and manager of VGCX, including, without limitation, all property, assets and undertakings in which VGCX has an interest. As a result, the VGCX share block cannot be sold without Court approval, which Management believes will permit an orderly sale of the Lahontan common shares held by VGCX. The Company is working diligently to assist in any potential sale process to ensure the best possible outcome for Lahontan shareholders.
On behalf of the Board of Directors
Kimberly Ann
Founder, CEO, President, and Director
FOR FURTHER INFORMATION, PLEASE CONTACT:
Lahontan Gold Corp.
Kimberly Ann
Founder, Executive Chair, Chief Executive Officer, and President
Phone: 1-530-414-4400
Email: Kimberly.ann@lahontangoldcorp.com
Website: www.lahontangoldcorp.com
Cautionary Note Regarding Forward-Looking Statements:
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the TSXV. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company's filings with Canadian securities regulators, which filings are available at www.sedar.com
SOURCE: Lahontan Gold Corp
View the original press release on accesswire.com