Lara Exploration arranges private placements

Executive Summary

• Lara Exploration Ltd. announced a financing plan to raise up to C$33,750,000 through a combination of a brokered and a concurrent non-brokered private placement.
• The brokered portion involves up to 6.75 million common shares at C$3.00 per share, while the non-brokered portion involves up to 4.5 million common shares at the same price.
• Proceeds are designated for advancing the Planalto copper-gold project in Brazil and for general corporate and working capital purposes.

Key Details

• Total Gross Proceeds: Up to C$33,750,000 (approximately US$25,000,000 based on the stated exchange rate of C$1.35 = US$1.00).
• Brokered Private Placement:
  • Structure: Best efforts brokered private placement.
  • Lead Agent: SCP Resource Finance LP, acting on behalf of a syndicate of agents.
  • Shares: Up to 6.75 million common shares.
  • Price: C$3.00 per common share (US$2.22 per share).
  • Gross Proceeds: Up to C$20,250,000 (US$15,000,000).
  • Fees: Cash fee of 6% of gross proceeds payable to agents (reduced to 0% for insider purchasers).
• Non-Brokered Private Placement:
  • Structure: Concurrent non-brokered private placement.
  • Shares: Up to 4.5 million common shares.
  • Price: C$3.00 per common share.
  • Gross Proceeds: Up to C$13,500,000 (US$10,000,000).
  • Fees: No finders' fees expected.
• Closing Date: Expected on or about March 31, 2026, or as otherwise agreed.
• Conditions: Subject to regulatory approvals, including TSX Venture Exchange approval.
• Hold Period: Securities subject to a statutory four-month hold period under Canadian securities laws from the date of closing.
• Use of Proceeds: Advancement of the Planalto copper-gold project and general corporate/working capital purposes.

Notable Quotes

• None provided in the text.