Loncor Gold Announces the Closing of Its Brokered Private Placement for Gross Proceeds of C$9.4 Million
Loncor Gold (TSX: LN) (OTCQX: LONCF) has successfully closed its brokered private placement offering, raising C$9.4 million in gross proceeds. The company sold 17,090,910 units at C$0.55 per unit, with each unit comprising one common share and half a warrant. Each whole warrant allows purchasing one common share at C$0.80 until May 23, 2028.
Red Cloud Securities acted as the sole agent, receiving C$503,999 in fees and 877,562 broker warrants exercisable at C$0.61 per share until May 23, 2028. The proceeds will fund exploration at the company's Imbo Project in the Democratic Republic of the Congo's Ngayu Greenstone Belt and general corporate purposes.
Loncor Gold (TSX: LN) (OTCQX: LONCF) ha completato con successo la sua offerta privata con intermediari, raccogliendo 9,4 milioni di dollari canadesi di proventi lordi. La società ha venduto 17.090.910 unità a 0,55 C$ ciascuna, con ogni unità composta da un'azione ordinaria e mezza warrant. Ogni warrant intero consente di acquistare un'azione ordinaria a 0,80 C$ fino al 23 maggio 2028.
Red Cloud Securities ha agito come unico agente, ricevendo commissioni per 503.999 C$ e 877.562 warrant per intermediari esercitabili a 0,61 C$ per azione fino al 23 maggio 2028. I proventi saranno utilizzati per finanziare l'esplorazione del Progetto Imbo della società nella cintura di rocce verdi Ngayu nella Repubblica Democratica del Congo e per scopi aziendali generali.
Loncor Gold (TSX: LN) (OTCQX: LONCF) ha cerrado con éxito su oferta privada con intermediarios, recaudando 9,4 millones de dólares canadienses en ingresos brutos. La compañía vendió 17,090,910 unidades a 0,55 C$ por unidad, cada una compuesta por una acción común y la mitad de un warrant. Cada warrant completo permite comprar una acción común a 0,80 C$ hasta el 23 de mayo de 2028.
Red Cloud Securities actuó como único agente, recibiendo 503,999 C$ en comisiones y 877,562 warrants para corredores ejercitables a 0,61 C$ por acción hasta el 23 de mayo de 2028. Los ingresos financiarán la exploración en el Proyecto Imbo de la compañía en el cinturón de roca verde Ngayu en la República Democrática del Congo y para propósitos corporativos generales.
Loncor Gold (TSX: LN) (OTCQX: LONCF)는 중개인 사모 발행을 성공적으로 마무리하여 총 940만 캐나다 달러의 자금을 조달했습니다. 회사는 주당 0.55 캐나다 달러에 17,090,910 단위를 판매했으며, 각 단위는 보통주 1주와 워런트 0.5개로 구성되어 있습니다. 워런트 1개는 2028년 5월 23일까지 주당 0.80 캐나다 달러에 보통주 1주를 구매할 수 있는 권리를 제공합니다.
Red Cloud Securities가 단독 대리인으로 활동하며 503,999 캐나다 달러의 수수료와 877,562개의 중개인 워런트를 받았으며, 이 워런트는 2028년 5월 23일까지 주당 0.61 캐나다 달러에 행사할 수 있습니다. 조달된 자금은 콩고 민주 공화국의 Ngayu 그린스톤 벨트에 위치한 회사의 Imbo 프로젝트 탐사와 일반 기업 목적에 사용됩니다.
Loncor Gold (TSX : LN) (OTCQX : LONCF) a clôturé avec succès son placement privé avec courtier, levant 9,4 millions de dollars canadiens de produits bruts. La société a vendu 17 090 910 unités à 0,55 C$ l'unité, chaque unité comprenant une action ordinaire et un demi-warrant. Chaque warrant complet permet d'acheter une action ordinaire à 0,80 C$ jusqu'au 23 mai 2028.
Red Cloud Securities a agi en tant qu'agent unique, recevant 503 999 C$ de frais et 877 562 warrants pour courtiers exerçables à 0,61 C$ par action jusqu'au 23 mai 2028. Les fonds seront utilisés pour financer l'exploration du projet Imbo de la société dans la ceinture de roches vertes de Ngayu en République démocratique du Congo ainsi que pour des besoins généraux de l'entreprise.
Loncor Gold (TSX: LN) (OTCQX: LONCF) hat seine vermittelte Privatplatzierung erfolgreich abgeschlossen und dabei 9,4 Millionen kanadische Dollar an Bruttoerlösen erzielt. Das Unternehmen verkaufte 17.090.910 Einheiten zu je 0,55 C$, wobei jede Einheit aus einer Stammaktie und einem halben Bezugsrecht bestand. Jedes volle Bezugsrecht berechtigt zum Kauf einer Stammaktie zu 0,80 C$ bis zum 23. Mai 2028.
Red Cloud Securities fungierte als alleiniger Vermittler und erhielt Gebühren in Höhe von 503.999 C$ sowie 877.562 Vermittlerbezugsrechte, die bis zum 23. Mai 2028 zu 0,61 C$ pro Aktie ausgeübt werden können. Die Erlöse werden zur Finanzierung der Exploration des Imbo-Projekts des Unternehmens im Ngayu Greenstone Belt der Demokratischen Republik Kongo sowie für allgemeine Unternehmenszwecke verwendet.
- Successful fundraising of C$9.4 million including full exercise of agent's option
- Proceeds will advance exploration at the strategic Imbo Project
- Long-term warrant exercise period until 2028 provides future funding potential
- Potential dilution for existing shareholders due to new share issuance
- Significant fees and broker warrants (C$503,999 plus 877,562 warrants) paid to agents
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES
Toronto, Ontario--(Newsfile Corp. - May 23, 2025) - Loncor Gold Inc. (TSX: LN) (OTCQX: LONCF) (FSE: LO5) ("Loncor" or the "Company") is pleased to announce the closing of its previously announced "best efforts" private placement (the "Offering") for aggregate gross proceeds of C
Each Unit consists of one common share of the Company (each, a "Common Share") and one-half of one Common Share purchase warrant of the Company (each whole warrant, a "Warrant"). Each whole Warrant entitles the holder to purchase one Common Share at a price of C
Red Cloud Securities Inc. ("Red Cloud") acted as sole agent and bookrunner in connection with the Offering. In consideration for its services, Red Cloud received aggregate cash commissions and advisory fees of C
In accordance with National Instrument 45-106 - Prospectus Exemptions ("NI 45-106"), the Units were sold to purchasers resident in Canada pursuant to the listed issuer financing exemption under Part 5A of NI 45-106 and to purchasers outside of Canada (including to purchasers resident in the United States pursuant to one or more exemptions from the registration requirements of the United States Securities Act of 1933, as amended). The securities underlying the Units sold to purchasers resident in Canada will be immediately freely tradeable under applicable Canadian securities legislation.
The Company intends to use the net proceeds of the Offering for the continued exploration and advancement of the Company's Imbo Project located in the Ngayu Greenstone Belt in the northeast of the Democratic Republic of the Congo, as well as for general corporate purposes.
The securities offered in the Offering have not been, and will not be, registered under the United States Securities Act of 1933 (the "U.S. Securities Act"), as amended, or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
The Offering remains subject to the final approval of the Toronto Stock Exchange.
About Loncor Gold Inc.
Loncor is a Canadian gold exploration company focussed on the Ngayu Greenstone Gold Belt in the northeast of the Democratic Republic of the Congo (the "DRC"). The Loncor team has over two decades of experience of operating in the DRC. Loncor's growing resource base in the Ngayu Belt is focused on the Imbo Project where the Adumbi deposit holds an indicated mineral resource of 1.88 million ounces of gold (28.185 million tonnes grading 2.08 g/t gold), and the Adumbi deposit and two neighbouring deposits hold an inferred mineral resource of 2.090 million ounces of gold (22.508 million tonnes grading 2.89 g/t Au), with
Additional information with respect to Loncor and its projects can be found on Loncor's website at www.loncor.com.
Cautionary Note Concerning Forward-Looking Information
This press release contains forward-looking information. All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding mineral resource estimates and exploration and development plans) are forward-looking information. In particular, this press release contains forward-looking information relating to, among other things, the intended use of proceeds of the Offering. This forward-looking information reflects the current expectations or beliefs of the Company based on information currently available to the Company. Forward-looking information is subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking information, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things, the possibility that future exploration (including drilling) or development results will not be consistent with the Company's expectations, risks related to the exploration stage of the Company's properties, uncertainties relating to the availability and costs of financing needed in the future, the possibility that drilling programs will be delayed, failure to establish estimated mineral resources (the Company's mineral resource figures are estimates and no assurances can be given that the indicated levels of gold will be produced), changes in world gold markets or equity markets, political developments in the DRC, gold recoveries being less than those indicated by the metallurgical testwork carried out to date (there can be no assurance that gold recoveries in small scale laboratory tests will be duplicated in large tests under on-site conditions or during production), fluctuations in currency exchange rates, inflation, changes to regulations affecting the Company's activities, delays in obtaining or failure to obtain required project approvals, the uncertainties involved in interpreting drilling results and other geological data and the other risks disclosed under the heading "Risk Factors" and elsewhere in the Company's annual information form dated March 31, 2025 filed on SEDAR+ at www.sedarplus.ca and EDGAR at www.sec.gov. Forward-looking information speaks only as of the date on which it is provided and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.
For further information, please visit our website at www.loncor.com or contact:
John Barker, CEO, +44 7547 159 521
Arnold Kondrat, Executive Chairman, +1 416 366 7300
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/253180
FAQ
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