Loncor Gold Announces Brokered Private Placement for Gross Proceeds of up to C$5.0 Million
Loncor Gold (TSX: LN) (OTCQX: LONCF) has announced a brokered private placement to raise up to C$5.0 million through the sale of up to 9,090,909 units at C$0.55 per unit. Each unit includes one common share and half a warrant, with each whole warrant exercisable at C$0.80 for 36 months. Red Cloud Securities will act as sole agent with an option to sell additional units for up to C$1.0 million.
The offering, scheduled to close on May 23, 2025, will be available to purchasers in select Canadian provinces and internationally. Proceeds will fund exploration at the company's Imbo Project in the Democratic Republic of the Congo's Ngayu Greenstone Belt and general corporate purposes.
Loncor Gold (TSX: LN) (OTCQX: LONCF) ha annunciato un collocamento privato con intermediari per raccogliere fino a 5,0 milioni di C$ mediante la vendita di un massimo di 9.090.909 unità a 0,55 C$ ciascuna. Ogni unità comprende un'azione ordinaria e mezza warrant, con ogni warrant intero esercitabile a 0,80 C$ per 36 mesi. Red Cloud Securities agirà come agente unico con un'opzione per vendere ulteriori unità fino a 1,0 milione di C$.
L'offerta, prevista per chiudere il 23 maggio 2025, sarà disponibile per acquirenti in alcune province canadesi e a livello internazionale. I proventi finanzieranno l'esplorazione del Progetto Imbo dell'azienda nella cintura di rocce verdi di Ngayu nella Repubblica Democratica del Congo e scopi aziendali generali.
Loncor Gold (TSX: LN) (OTCQX: LONCF) ha anunciado una colocación privada con corredores para recaudar hasta 5,0 millones de C$ mediante la venta de hasta 9.090.909 unidades a 0,55 C$ por unidad. Cada unidad incluye una acción común y media warrant, siendo cada warrant completo ejercitable a 0,80 C$ durante 36 meses. Red Cloud Securities actuará como agente exclusivo con una opción para vender unidades adicionales por hasta 1,0 millón de C$.
La oferta, programada para cerrarse el 23 de mayo de 2025, estará disponible para compradores en ciertas provincias canadienses e internacionalmente. Los fondos se destinarán a la exploración del Proyecto Imbo de la empresa en el cinturón de rocas verdes Ngayu de la República Democrática del Congo y a propósitos corporativos generales.
Loncor Gold (TSX: LN) (OTCQX: LONCF)는 중개인 사모 발행을 통해 최대 5백만 캐나다 달러를 조달할 예정이며, 단가는 단위당 0.55 캐나다 달러로 최대 9,090,909 단위를 판매합니다. 각 단위는 보통주 1주와 워런트 0.5개로 구성되며, 워런트 1개는 36개월 동안 0.80 캐나다 달러에 행사할 수 있습니다. Red Cloud Securities가 단독 대리인으로 활동하며 최대 1백만 캐나다 달러 추가 단위 판매 옵션을 보유합니다.
이번 공모는 2025년 5월 23일에 마감될 예정이며, 일부 캐나다 주와 국제적으로 구매자에게 제공됩니다. 자금은 콩고 민주 공화국의 Ngayu 그린스톤 벨트에 위치한 회사의 Imbo 프로젝트 탐사와 일반 기업 목적에 사용될 예정입니다.
Loncor Gold (TSX : LN) (OTCQX : LONCF) a annoncé un placement privé avec courtier visant à lever jusqu'à 5,0 millions de C$ par la vente de jusqu'à 9 090 909 unités à 0,55 C$ l'unité. Chaque unité comprend une action ordinaire et une demi-option d'achat, chaque option complète pouvant être exercée à 0,80 C$ pendant 36 mois. Red Cloud Securities agira en tant qu'agent unique avec une option de vente d'unités supplémentaires jusqu'à 1,0 million de C$.
L'offre, dont la clôture est prévue pour le 23 mai 2025, sera accessible aux acheteurs dans certaines provinces canadiennes et à l'international. Les fonds serviront à financer l'exploration du projet Imbo de la société dans la ceinture de roches vertes de Ngayu en République démocratique du Congo ainsi que des besoins généraux de l'entreprise.
Loncor Gold (TSX: LN) (OTCQX: LONCF) hat eine vermittelte Privatplatzierung angekündigt, um bis zu 5,0 Millionen C$ durch den Verkauf von bis zu 9.090.909 Einheiten zu je 0,55 C$ pro Einheit zu beschaffen. Jede Einheit umfasst eine Stammaktie und eine halbe Option, wobei jede ganze Option für 36 Monate zu 0,80 C$ ausgeübt werden kann. Red Cloud Securities wird als alleiniger Agent fungieren und hat eine Option zum Verkauf zusätzlicher Einheiten im Wert von bis zu 1,0 Millionen C$.
Das Angebot, das am 23. Mai 2025 abgeschlossen werden soll, steht Käufern in ausgewählten kanadischen Provinzen und international zur Verfügung. 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.
- Raising up to C$6 million (including agent's option) to fund exploration activities
- Warrants provide potential additional funding at C$0.80 per share
- Securities will be immediately freely tradeable under Canadian securities legislation
- Potential dilution for existing shareholders
- Offering price of C$0.55 per unit may represent a discount to market price
- Success of the offering depends on market conditions and investor interest
Toronto, Ontario--(Newsfile Corp. - May 1, 2025) - Loncor Gold Inc. (TSX: LN) (OTCQX: LONCF) (FSE: LO5) ("Loncor" or the "Company") is pleased to announce that it has entered into an agreement with Red Cloud Securities Inc. (the "Agent") to act as sole agent and bookrunner in connection with a "best efforts" private placement (the "Marketed Offering") for 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
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 1,818,182 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.
There is an offering document related to the Offering that 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 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/250512
FAQ
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