Loncor Gold Announces Upsize of the Brokered Private Placement for Gross Proceeds of up to C$8.0 Million
Loncor Gold (TSX: LN) has increased its previously announced private placement from C$5 million to C$8 million due to strong investor demand. The upsized offering consists of up to 14,545,455 units at C$0.55 per unit. Each unit includes one common share and half of one warrant, with each whole warrant exercisable at C$0.80 for 36 months.
Red Cloud Securities is acting as sole agent and has an option to sell an additional 2,545,455 units for up to C$1.4 million. The offering is available to purchasers in select Canadian provinces and is expected to close on May 23, 2025. Proceeds will fund exploration at the company's Imbo Project in the Democratic Republic of the Congo's Ngayu Greenstone Belt and general corporate purposes.
Loncor Gold (TSX: LN) ha aumentato il suo collocamento privato precedentemente annunciato da 5 milioni di C$ a 8 milioni di C$ a causa della forte domanda da parte degli investitori. L'offerta ampliata consiste in un massimo di 14.545.455 unità a 0,55 C$ per unità. Ogni unità comprende una azione ordinaria e metà di un warrant, con ciascun warrant intero esercitabile a 0,80 C$ per 36 mesi.
Red Cloud Securities agisce come agente unico e ha l'opzione di vendere ulteriori 2.545.455 unità per un massimo di 1,4 milioni di C$. L'offerta è disponibile per acquirenti in alcune province canadesi e si prevede che si concluda il 23 maggio 2025. I proventi finanzieranno l'esplorazione presso il Progetto Imbo della società nella cintura di rocce verdi di Ngayu nella Repubblica Democratica del Congo e scopi aziendali generali.
Loncor Gold (TSX: LN) ha incrementado su colocación privada previamente anunciada de 5 millones de C$ a 8 millones de C$ debido a una fuerte demanda por parte de los inversores. La oferta ampliada consiste en hasta 14.545.455 unidades a 0,55 C$ por unidad. Cada unidad incluye una acción común y la mitad de un warrant, siendo cada warrant completo ejercitable a 0,80 C$ durante 36 meses.
Red Cloud Securities actúa como agente exclusivo y tiene la opción de vender 2.545.455 unidades adicionales por hasta 1,4 millones de C$. La oferta está disponible para compradores en ciertas provincias de Canadá y se espera que cierre el 23 de mayo de 2025. Los fondos se destinarán a la exploración en el Proyecto Imbo de la compañía en la Cintura de Rocas Verdes Ngayu de la República Democrática del Congo y para propósitos corporativos generales.
Loncor Gold (TSX: LN)는 투자자들의 강한 수요로 인해 이전에 발표한 사모 발행 규모를 500만 캐나다 달러에서 800만 캐나다 달러로 확대했습니다. 확대된 공모는 단가 0.55 캐나다 달러로 최대 14,545,455 단위로 구성됩니다. 각 단위는 보통주 1주와 워런트 0.5개로 구성되며, 워런트 1개는 36개월 동안 0.80 캐나다 달러에 행사할 수 있습니다.
Red Cloud Securities가 단독 대리인으로 활동하며 최대 140만 캐나다 달러 규모의 추가 2,545,455 단위 판매 옵션을 보유하고 있습니다. 이번 공모는 특정 캐나다 주의 구매자에게 제공되며, 2025년 5월 23일에 마감될 예정입니다. 조달된 자금은 콩고민주공화국의 Ngayu 그린스톤 벨트에 위치한 회사의 Imbo 프로젝트 탐사 및 일반 기업 목적에 사용됩니다.
Loncor Gold (TSX : LN) a augmenté son placement privé précédemment annoncé, passant de 5 millions de C$ à 8 millions de C$ en raison d'une forte demande des investisseurs. L'offre majorée comprend jusqu'à 14 545 455 unités à 0,55 C$ l'unité. Chaque unité comprend une action ordinaire et un demi-warrant, chaque warrant complet étant exerçable à 0,80 C$ pendant 36 mois.
Red Cloud Securities agit en tant qu'agent unique et dispose d'une option pour vendre 2 545 455 unités supplémentaires pour un montant pouvant atteindre 1,4 million de C$. L'offre est disponible pour les acheteurs dans certaines provinces canadiennes et devrait se clôturer le 23 mai 2025. Les fonds serviront à financer l'exploration du projet Imbo de la société dans la ceinture de roches vertes Ngayu en République démocratique du Congo ainsi que des besoins généraux de l'entreprise.
Loncor Gold (TSX: LN) hat seine zuvor angekündigte Privatplatzierung aufgrund der starken Anlegernachfrage von 5 Millionen C$ auf 8 Millionen C$ erhöht. Das erweiterte Angebot umfasst bis zu 14.545.455 Einheiten zu je 0,55 C$. Jede Einheit besteht aus einer Stammaktie und einem halben Warrant, wobei jeder ganze Warrant für 36 Monate zu 0,80 C$ ausgeübt werden kann.
Red Cloud Securities fungiert als alleiniger Agent und hat eine Option, zusätzlich 2.545.455 Einheiten im Wert von bis zu 1,4 Millionen C$ zu verkaufen. Das Angebot steht Käufern in ausgewählten kanadischen Provinzen offen und soll am 23. Mai 2025 abgeschlossen werden. Die Erlöse werden die Exploration des Imbo-Projekts des Unternehmens im Ngayu Greenstone Belt der Demokratischen Republik Kongo sowie allgemeine Unternehmenszwecke finanzieren.
- Strong investor demand led to 60% increase in offering size from C$5M to C$8M
- Additional funding secured for exploration and advancement of Imbo Project
- Warrants provide potential additional funding at C$0.80 per share
- Securities expected to be immediately freely tradeable under Canadian legislation
- Potential dilution for existing shareholders
- 36-month warrant overhang at C$0.80 exercise price
- Offering subject to regulatory approvals and conditions
Toronto, Ontario--(Newsfile Corp. - May 7, 2025) - Loncor Gold Inc. (TSX: LN) (OTCQX: LONCF) (FSE: LO5) ("Loncor" or the "Company") is pleased to announce that, as a result of strong investor demand, the Company has increased the size of its previously announced "best efforts" private placement (the "Marketed Offering") from aggregate gross proceeds of up to C
Each Unit will consist of one common share of the Company and one-half of one common share purchase warrant of the Company (each whole warrant, a "Warrant"). Each whole Warrant shall entitle the holder to purchase one common share of the Company at a price of C
Red Cloud Securities Inc. (the "Agent") is acting as sole agent and bookrunner under the Offering (as defined below). The Agent will have an option, exercisable in full or in part, up to 48 hours prior to the Closing Date, to sell up to an additional 2,545,455 Units at the Offering Price for up to an additional C
Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 - Prospectus Exemptions ("NI 45-106"), the Units will be offered for sale to purchasers in the provinces of Alberta, British Columbia, Manitoba, Ontario and Saskatchewan pursuant to the listed issuer financing exemption under Part 5A of NI 45-106. The securities underlying the Units are expected to be immediately freely tradeable under applicable Canadian securities legislation if sold to purchasers resident in Canada. The Units may also be sold in offshore jurisdictions and in the United States on a private placement basis pursuant to one or more exemptions from the registration requirements of the United States Securities Act of 1933 (the "U.S. Securities Act"), as amended.
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 Offering is scheduled to close on May 23, 2025 or such other date as the Company and the Agent may agree (the "Closing Date"). Completion of the Offering is subject to certain conditions including, but not limited to the receipt of all necessary approvals, including the approval of the Toronto Stock Exchange.
An amended and restated offering document related to the amended Offering can be accessed under the Company's profile at www.sedarplus.ca and on the Company's website at www.loncor.com. Prospective investors should read this amended and restated offering document before making an investment decision.
The securities offered in the Offering have not been, and will not be, registered under 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.
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 Offering, the anticipated closing date of the Offering, the intended use of proceeds of the Offering, approval of the Toronto Stock Exchange and the filing of the offering document. 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, failure to complete the Offering, the need to satisfy regulatory and legal requirements with respect to the Offering, 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
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/251097
FAQ
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