Lighthouse Gold closes $854,000 private placement

Executive Summary

• Lighthouse Gold Inc. has closed its non-brokered private placement of units, issuing 12.2 million units at $0.07 per unit.
• The offering generated approximately $854,000 in aggregate gross proceeds.
• Proceeds are intended for the exploration of mineral properties and general working capital.

Key Details

• Transaction Type: Non-brokered private placement of units.
• Units Issued: 12,200,000 units.
• Price Per Unit: $0.07 CAD.
• Gross Proceeds: Approximately $854,000.
• Warrant Terms: Each unit includes one-half of one share purchase warrant. Each warrant is exercisable to purchase one additional share at an exercise price of $0.13 per share.
• Warrant Expiry: 18 months from the closing date.
• Use of Proceeds: Exploration of mineral properties and general working capital.
• Hold Period: Securities are subject to a statutory hold period of four months plus one day.
• Related Party Transactions: A director participated in the offering as a related party. The transaction was exempt from formal valuation and shareholder approval requirements under Multilateral Instrument 61-101 because the fair market value of shares issued to related parties did not exceed 25% of the company's market capitalization.

Notable Quotes

• None provided in the text.