Leviathan Gold Announces Closing of Private Placement of Units and inclusion of Prominent Strategic Mining Investor Michael Gentile
Leviathan Gold (LVXFF) has successfully closed a non-brokered private placement, raising $3.25 million through the sale of 32.5 million units at $0.10 per unit. Each unit includes one common share and half a warrant, with warrants exercisable at $0.15 until April 2027.
Notable strategic mining investor Michael Gentile has joined as a significant shareholder, acquiring 5.25 million shares and 2.625 million warrants, representing 8.54% ownership (non-diluted) and 12.29% (partially diluted). The proceeds will primarily fund exploration in Australia and Bosnia, particularly the Foča project, where historic drilling showed promising results of 15 metres at 13.25% Pb+Zn, with recent rock chip sampling yielding up to 347 g/t Ag, 10.1% Pb and 40% Zn.
Leviathan Gold (LVXFF) ha concluso con successo un collocamento privato non mediato, raccogliendo 3,25 milioni di dollari attraverso la vendita di 32,5 milioni di unità a 0,10 dollari per unità. Ogni unità include un'azione comune e mezzo warrant, con warrant esercitabili a 0,15 dollari fino ad aprile 2027.
Il noto investitore strategico nel settore minerario Michael Gentile è entrato come azionista significativo, acquisendo 5,25 milioni di azioni e 2,625 milioni di warrant, rappresentando l'8,54% di proprietà (non diluito) e il 12,29% (parzialmente diluito). I proventi finanzieranno principalmente l'esplorazione in Australia e in Bosnia, in particolare il progetto di Foča, dove i sondaggi storici hanno mostrato risultati promettenti di 15 metri a 13,25% Pb+Zn, con recenti campionamenti di rocce che hanno restituito fino a 347 g/t Ag, 10,1% Pb e 40% Zn.
Leviathan Gold (LVXFF) ha cerrado con éxito una colocación privada no mediada, recaudando 3.25 millones de dólares a través de la venta de 32.5 millones de unidades a 0.10 dólares por unidad. Cada unidad incluye una acción común y medio warrant, con warrants ejercitables a 0.15 dólares hasta abril de 2027.
El notable inversor estratégico en minería Michael Gentile se ha unido como un accionista significativo, adquiriendo 5.25 millones de acciones y 2.625 millones de warrants, representando un 8.54% de propiedad (no diluida) y un 12.29% (parcialmente diluida). Los ingresos se destinarán principalmente a la exploración en Australia y Bosnia, particularmente en el proyecto de Foča, donde las perforaciones históricas mostraron resultados prometedores de 15 metros a 13.25% Pb+Zn, con muestreos recientes de rocas que arrojaron hasta 347 g/t Ag, 10.1% Pb y 40% Zn.
레비아탄 골드 (LVXFF)는 비중개 사모 배치를 성공적으로 마감하고, 325만 달러를 모금했습니다. 이는 0.10 달러에 3,250만 유닛을 판매한 결과입니다. 각 유닛은 하나의 보통주와 반 개의 워런트를 포함하며, 워런트는 2027년 4월까지 0.15 달러에 행사할 수 있습니다.
저명한 전략적 광산 투자자 마이클 젠틸이 주요 주주로 합류하여 525만 주와 262.5만 개의 워런트를 인수하였으며, 이는 8.54%의 소유권(희석되지 않음)과 12.29% (부분 희석됨)를 나타냅니다. 수익금은 주로 호주와 보스니아에서의 탐사 자금으로 사용될 예정이며, 특히 포차 프로젝트에서 역사적인 시추 결과가 15미터에서 13.25% Pb+Zn의 유망한 결과를 보여주었고, 최근 암석 샘플링에서는 최대 347 g/t Ag, 10.1% Pb 및 40% Zn이 나왔습니다.
Leviathan Gold (LVXFF) a réussi à clôturer un placement privé non intermédié, levant 3,25 millions de dollars grâce à la vente de 32,5 millions d'unités à 0,10 dollar par unité. Chaque unité comprend une action ordinaire et une demi-option, avec des options exerçables à 0,15 dollar jusqu'en avril 2027.
L'investisseur stratégique en mines Michael Gentile a rejoint en tant qu'actionnaire significatif, acquérant 5,25 millions d'actions et 2,625 millions d'options, représentant 8,54% de propriété (non diluée) et 12,29% (partiellement diluée). Les produits seront principalement utilisés pour financer l'exploration en Australie et en Bosnie, en particulier le projet de Foča, où des forages historiques ont montré des résultats prometteurs de 15 mètres à 13,25% Pb+Zn, avec des échantillons récents de roche donnant jusqu'à 347 g/t Ag, 10,1% Pb et 40% Zn.
Leviathan Gold (LVXFF) hat erfolgreich eine nicht vermittelte Privatplatzierung abgeschlossen und 3,25 Millionen Dollar durch den Verkauf von 32,5 Millionen Einheiten zu je 0,10 Dollar pro Einheit gesammelt. Jede Einheit umfasst eine Stammaktie und eine halbe Warrant, wobei Warrants bis April 2027 zu 0,15 Dollar ausgeübt werden können.
Der bemerkenswerte strategische Bergbauinvestor Michael Gentile ist als bedeutender Aktionär eingetreten und hat 5,25 Millionen Aktien und 2,625 Millionen Warrants erworben, was 8,54% Eigentum (nicht verwässert) und 12,29% (teilweise verwässert) entspricht. Die Erlöse werden hauptsächlich die Erkundung in Australien und Bosnien finanzieren, insbesondere das Projekt Foča, wo historische Bohrungen vielversprechende Ergebnisse von 15 Metern mit 13,25% Pb+Zn zeigten, und aktuelle Gesteinsproben bis zu 347 g/t Ag, 10,1% Pb und 40% Zn ergaben.
- Secured $3.25M in fresh capital through private placement
- Strategic investment from prominent mining investor Michael Gentile
- Strong exploration results from Foča project with high-grade mineralization
- Insider participation in financing shows management confidence
- Significant dilution with 32.5M new shares issued
- Warrant exercise could lead to additional future dilution
- Financing completed at relatively low price of $0.10 per unit
VANCOUVER, British Columbia, April 11, 2025 (GLOBE NEWSWIRE) -- Leviathan Gold Ltd. (“Leviathan”, the “Company”) (LVX – TSXV, 0GP – Germany) is pleased to announce the closing of a non-brokered private placement pursuant to which the Company sold 32,500,000 units (each, a “Unit”) in the capital of the Company at a price of
Each Unit consists of one common share (each, a “Common Share”) and one-half of one Common Share purchase warrant (each whole warrant, a “Warrant”) of the Company. Each Warrant shall entitle the holder thereof to acquire one Common Share in the capital of the Company at a price of
Following completion of the Offering, Michael Gentile will beneficially own and control 5,250,000 Common Shares and 2,625,000 Warrants, representing
Mr. Gentile is considered one of the leading strategic investors in the junior mining sector, owning significant top five ownership stakes in over 20 small-cap mining and mining exploration companies.
He recently co-founded Bastion Asset Management in January 2022, a rapidly growing money management firm in Montreal with over
Leviathan Gold’s President and Chief Executive Officer, Luke Norman, remarked: “We are delighted to welcome Mr. Gentile as a strategic market-leading investor in Leviathan, and for his confidence in our property portfolio and executive team. We look forward to working with Mr. Gentile in proactively advancing Leviathan’s project portfolio and market presence.
Further, we are very excited to open this new chapter in the history of the Company. Our Foča project in Bosnia is a tremendous asset located in an under-explored yet highly endowed metallogenic belt that is home to the likes of Adriatic Metal’s Vareš, project, the Trepča mines complex in Kosovo and others, clearly demanding a systematic modern-day approach to exploration. Our early move in this district has allowed us to secure prime ground, that includes the Vrela target, where historic drilling indicated an average mineralized thickness of 15 metres at
Proceeds from this Offering will be used by the Company primarily for exploration in Australia and Bosnia and for general working capital purposes.
In connection with the Offering, the Company paid a finder’s fee in the amount of
All securities issued pursuant to the Offering are subject to a hold period of four months plus a day from the date of issuance. Completion of this Offering remains subject to the final approval of the TSX Venture Exchange.
Related Party Transaction
Certain directors and officers of the Company subscribed for an aggregate of 3,125,000 Units for gross proceeds of
Early Warning Disclosure
Following completion of the Offering, Michael Gentile will beneficially own and control 5,250,000 Common Shares and 2,625,000 Warrants, representing
This press release and Mr. Gentile’s corresponding early warning report (the "Early Warning Report") which is expected to be filed on SEDAR+ in the near term, constitutes the required disclosure pursuant to section 5.2 of National Instrument 62-104 - Take-Over Bids and Issuer Bids ("NI 62- 104"). The securities acquired under the Offering are being acquired by Mr. Gentile for investment purposes. Mr. Gentile has no current intention to enter into any of the transactions listed in clauses (a) to (k) of item 5 of Form 62-103F1 of National Instrument 62-103 – The Early Warning System and Related Take-over Bid and Insider Reporting Issues ("NI 62-103"), but in the future he may acquire or dispose of securities of the Company depending on market conditions, reformulation of plans and/or other relevant factors, in each case in accordance with applicable securities laws.
The Early Warning Report that will be filed on SEDAR+ in respect of the Offering will satisfy the requirement of section 5.2 of NI 62-104 to have the Early Warning Report filed by an acquiror, in this case by Mr. Gentile, with the securities regulatory authorities in each of the jurisdictions in which the Company is a reporting issuer and which contains the information required by section 3.1 of NI 62-103, which includes the information required by Form 62-103F1.
A copy of the Early Warning Report filed by Mr. Gentile in connection with the Offering will be available under the Company's profile on the SEDAR+ website at www.sedarplus.ca.
About Leviathan Gold Ltd.
Leviathan Gold Ltd. is a Canadian-based mineral exploration company listed on the TSXV (LVX) and Germany (0GP).
On behalf of the Company,
Luke Norman, Chief Executive Officer and Director
For further information please visit the Company website www.leviathangold.com or contact:
Adam Ross, Investor Relations,
Direct: (604) 229-9445
Toll Free: 1(833) 923-3334
Email: info@leviathangold.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 release. No securities regulatory authority has either approval or disapproved of the contents of this press release.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Forward-Looking Statements
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release, including statements regarding the use of proceeds and receipt of final approval of the TSX Venture Exchange. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Leviathan cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by many material factors, many of which are beyond Leviathan’s control. Such factors include, among other things: risks and uncertainties relating to whether exploration activities will result in commercially viable quantities of mineralized materials; the possibility of changes to project parameters as plans continue to be refined; the ability to execute planned exploration and future drilling programs; COVID-19; the ability to obtain qualified workers, financing, permits, approvals, and equipment in a timely manner or at all and on reasonable terms; changes in the commodity and securities markets; non-performance by contractual counterparties; and general business and economic conditions, Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Although Leviathan has attempted to identify important risks and factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors and risks that cause actions, events or results not to be as anticipated, estimated or intended. Consequently, undue reliance should not be placed on such forward-looking statements. In addition, all forward-looking statements in this press release are given as of the date hereof. Leviathan disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, save and except as may be required by applicable securities laws. The forward-looking statements contained herein are expressly qualified by this disclaimer.
FAQ
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