Labrador Gold Closes $5.76M Non-Brokered Private Placement
Labrador secured $5.76m in capital to fund exploration activities at its Yukon and Ontario projects.
Labrador Gold Corp. (LAB) closed the final tranche of its non-brokered private placement on October 23, 2026, with the announcement issued on October 26, 2026. The offering raised $5,760,115.45 in aggregate gross proceeds, bringing the total financing to $7,893,905.90, including the first tranche closed in October 2026.
The company issued 115,202,309 common shares at $0.05 per share, split into 61,326,500 non-flow-through shares (HD Shares) and 53,875,809 flow-through shares (FT Shares). Lead investors Matachewan Consolidated Mines, Limited and McChip Resources Inc. subscribed for $726,325 worth of HD Shares. Five company insiders subscribed for 8,700,000 FT Shares and 17,526,500 HD Shares totaling $1,311,325.
Proceeds from FT Shares will be used for eligible Canadian exploration expenses, with proceeds renounced to subscribers. HD Share proceeds fund exploration, development, working capital, and general corporate purposes. Lead investors face a one-year contractual lock-up expiring October 23, 2027. All other securities carry a statutory hold period expiring February 24, 2027.
The offering was subject to TSX Venture Exchange acceptance and exempt from MI 61-101 valuation and minority shareholder approval requirements.
Labrador Gold Corp. (LAB) has closed a financing round that fulfills a previously announced and upsized capital raise, securing the liquidity needed to continue its hybrid exploration and investment strategy. The capital directly supports the company’s obligation to deploy an additional $3 million in investments within six months to maintain its TSXV hybrid-issuer listing status.
The transaction increases the share count by approximately 40%, rising from roughly 170 million to approximately 285.2 million shares. The $0.05 issue price aligns with recent market trading levels and provides a slight premium over the October 21 low of $0.04. The inclusion of flow-through shares is designed to attract tax-conscious Canadian investors and facilitate placement in the challenging small-cap mining market.
The company maintains a strong balance sheet post-closing, with the financing extending the cash runway into 2027. No immediate distress or emergency fundraising is indicated.
Labrador Gold Corp. (LAB) is shifting its operational model from a pure exploration junior to a hybrid mining and investment issuer. The company’s flagship exploration portfolio includes the Hopedale Property in Labrador, which qualifies for TSXV listing, the 127,100-hectare Watson Project in Ontario's Fort Hope greenstone belt, and the Mariposa and Eureka Dome projects in the Yukon's White Gold District.
The Watson Project is held through an 80%-owned joint venture with Nemo Resources. In addition to its exploration assets, Labrador Gold holds strategic minority investments in San Cristobal Mining, which operates a major silver-zinc-lead mine in Bolivia, and Northern Shield Resources. Management, led by CEO Roger Moss, is pursuing a systematic exploration strategy based on previous successes at the Kingsway and Hopedale properties.