Lode Gold Announces Non-Brokered Private Placement of $7 Million Financing with Follow-On Investment from Lead Investor Coast Capital
Rhea-AI Summary
Lode Gold Resources (OTCQB: LODFF) announced a non-brokered private placement of up to $7,000,000, issuing up to 25,925,926 units at $0.27 per unit. Each unit comprises one common share and one warrant exercisable at $0.45 for three years.
Lead investor Coast Capital, already holding over 18%, plans to participate to bring its stake to approximately 19.9% post-closing. According to Lode Gold, proceeds will fund technical work and a drill program at the Fremont Gold Mine, strengthen the balance sheet, and support working capital. The company may pay finders' fees on accepted subscriptions.
Positive
- Non-brokered financing of up to $7,000,000 via unit offering
- Up to 25,925,926 units at $0.27, providing defined pricing
- Coast Capital participation targeting approximately 19.9% ownership
- Three-year warrants at $0.45 potentially enhance future funding flexibility
- Proceeds earmarked for Fremont PFS work, studies, and engineering
- Balance sheet support and general working capital funded from proceeds
Negative
- Up to 25,925,926 new shares create potential shareholder dilution
- Full warrant coverage adds additional future dilution if exercised
- Company may pay finders' fees, increasing transaction-related cash outflows
News Market Reaction – LODFF
In the Jul 14 session, LODFF gained 4.60%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Vancouver, British Columbia--(Newsfile Corp. - July 13, 2026) - Lode Gold Resources Inc (TSXV: LOD) (OTCQB: LODFF) ("Lode Gold" or the "Company") is pleased to announce a non-brokered financing for up to
Coast Capital LLC ("Coast"), a leading natural resources investment firm based in New York, an insider and a major shareholder currently at over
Each
Proceeds from the offering will be used to advance technical work at the Fremont Gold Mine ("Fremont"), strengthen the balance sheet and provide general working capital. Specifically relating to Fremont, the focus of technical work will include the upcoming drill program in support of a Preliminary Feasibility Study (PFS), metallurgical, geotechnical and rock mechanic studies and engineering. An initial mine plan will be developed to initiate environmental and permitting work later this year.
Lode Gold may pay finders' fees to eligible arm's-length parties with respect to subscriptions accepted by the Company.
About Coast Capital LLC
The Coast Capital Midas Fund, a leading natural resources investment fund based in New York, an insider and a major shareholder currently at over
About Lode Gold
Lode Gold has key assets in Canada and the United States.
Fremont Gold Mine Project (Fremont Gold Mining LLC) is a brownfield project in Mariposa, California with 43,000 m drilled, 10,000 underground channel samples, 14 adits and 2 shafts. Mining halted in 1942 due to the gold mining prohibition during WW II. It was mined at 10.7 g/t when price was gold was
Dingman Property is an orogenic deposit in Ontario, Canada with over 22,000 m drilled, with a 2013 PEA, MRE (link to report) : 376,000 oz at 0.94 g/t within 12.5 Mt measured and indicated and 47,000 oz at 0.71 g/t within 2.1 Mt Inferred.
Qualified Person
The technical information contained in this press release was reviewed and approved by Gary Wong, P.Eng., VP Exploration of Lode Gold, designated as a qualified person under National Instrument 43-101.
ON BEHALF OF THE COMPANY
Wendy T. Chan
CEO & Director
info@lode-gold.com
+1(604) 977-GOLD (4653)
Kevin Shum
Investor Relations
kevin@lode-gold.com
+1(604) 977-GOLD (4653)
Cautionary Statement Regarding Forward-Looking Information
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.
This news release includes "forward-looking statements" and "forward-looking information" within the meaning of Canadian securities legislation. All statements included in this news release, other than statements of historical fact, are forward-looking statements including, without limitation, statements with respect to the use of proceeds, advancement and completion of resource calculation, feasibility studies, and exploration plans and targets. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as "anticipate", "believe", "plan", "estimate", "expect", "potential", "target", "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.
Forward-looking statements are based on a number of assumptions and estimates that, while considered reasonable by management based on the business and markets in which the Company operates, are inherently subject to significant operational, economic, and competitive uncertainties, risks and contingencies. These include assumptions regarding, among other things: the status of community relations and the security situation on site; general business and economic conditions; the availability of additional exploration and mineral project financing; the supply and demand for, inventories of, and the level and volatility of the prices of metals; relationships with strategic partners; the timing and receipt of governmental permits and approvals; the timing and receipt of community and landowner approvals; changes in regulations; political factors; the accuracy of the Company's interpretation of drill results; the geology, grade and continuity of the Company's mineral deposits; the availability of equipment, skilled labour and services needed for the exploration and development of mineral properties; and currency fluctuations.
There can be no assurance that forward-looking statements will prove to be accurate and actual results, and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include a deterioration of security on site or actions by the local community that inhibits access and/or the ability to productively work on site, actual exploration results, interpretation of metallurgical characteristics of the mineralization, changes in project parameters as plans continue to be refined, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, delays or inability to receive required approvals, business disruptions, and other exploration or other risks detailed herein and from time to time in the filings made by the Company with securities regulators, including those described under the heading "Risks and Uncertainties" in the Company's most recently filed MD&A. The Company does not undertake to update or revise any forward-looking statements, except in accordance with applicable law.
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