Lake Victoria Gold to Issue Shares to Pay Debenture Interest
Rhea-AI Summary
Lake Victoria Gold (OTCQB: LVGLF) has announced two key developments. First, the company will issue 228,872 common shares at $0.195 per share to satisfy $44,630 in interest payments on convertible debentures worth $750,000 that were issued in July and August 2024.
Additionally, the company has extended its exclusivity period by 45 days with Nyati Resources (T) Limited, following their May 1, 2025 Letter of Intent, to complete due diligence and finalize joint venture agreements.
Positive
- None.
Negative
- Dilution of existing shareholders through issuance of additional shares
- Continued reliance on convertible debentures indicates potential cash flow constraints
News Market Reaction
On the day this news was published, LVGLF declined 2.84%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Vancouver, British Columbia--(Newsfile Corp. - July 3, 2025) - Lake Victoria Gold Ltd. (TSXV: LVG) (OTCQB: LVGLF) (FSE: E1K) ("LVG" or the "Company") announces that under the terms of the
The issuance of the Shares is subject to the approval of the TSX Venture Exchange.
The Company is also pleased to confirm that, further to news release of May 1, 2025 the exclusivity period under the May 1, 2025 Letter of Intent with Nyati Resources (T) Limited has been extended by an additional 45 days to allow both parties to complete due diligence and finalize definitive joint venture agreements.
About Lake Victoria Gold (LVG):
Lake Victoria Gold is a rapidly growing gold exploration and development company listed on the TSX Venture Exchange under the symbol LVG. Leveraging our unique position and experience, the Company is principally focused on growth and consolidation in the highly prolific and prospective Lake Victoria Goldfield in Tanzania.
The Company has a
LVG has assembled a highly experienced team with a track record of developing, financing, and operating mining projects in Africa with management, directors and partners owning more than
On Behalf of the Board of Directors of the Company,
Simon Benstead
Executive Chairman & CFO
Phone: +1 604-685-9316
Email: sbenstead@lakevictoriagold.com
For more information, please contact:
Simon Benstead
Executive Chairman & CFO
Phone:+ 1 604-685-9316
Email: sbenstead@lakevictoriagold.com
Marc Cernovitch
CEO & Director
Phone: +1 604-685-9316
Email: mcernovitch@lakevictoriagold.com
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 NEWS RELEASE.
Cautionary Statement Regarding Forward-Looking Information
This news release includes certain "forward-looking information" within the meaning of applicable Canadian securities legislation, including: the completion of transaction and obtaining regulatory approval for the transaction. All statements in this news release that address events or developments that we expect to occur in the future are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, although not always, identified by words such as "expect", "plan", "anticipate", "project", "target", "potential", "schedule", "forecast", "budget", "estimate", "intend" or "believe" and similar expressions or their negative connotations, or that events or conditions "will", "would", "may", "could", "should" or "might" occur. All such forward-looking statements are based on the opinions and estimates of management as of the date such statements are made.
Forward-looking statements necessarily involve assumptions, risks and uncertainties, certain of which are beyond LVG's control, including risks associated with or related to: receipt of all regulatory approvals; the state of financing availability; the volatility of metal prices and LVG's common shares; actual exploration or development plans and costs differing materially from the Company's estimates; and other risks disclosed in the Company's public filings.
LVG's forward-looking statements are based on the opinions and estimates of management and reflect their current expectations regarding future events and operating performance and speak only as of the date hereof. LVG does not assume any obligation to update forward-looking statements if circumstances or management's beliefs, expectations or opinions should change other than as required by applicable law. There can be no assurance that forward-looking statements will prove to be accurate, and actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements. Accordingly, no assurance can be given that any events anticipated by the forward-looking statements will transpire or occur, or if any of them do, what benefits or liabilities LVG will derive therefrom. For the reasons set forth above, undue reliance should not be placed on forward-looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/257623
FAQ
How many shares will LVGLF issue to pay its debenture interest?
What is the total value of Lake Victoria Gold's convertible debentures issued in 2024?
How long has the exclusivity period been extended with Nyati Resources?
What is the price per share for LVGLF's interest payment shares?
When were Lake Victoria Gold's convertible debentures originally issued?
