Lancaster Resources Announces Financing

Executive Summary

• Lancaster Resources announced a non‑brokered private placement to raise up to $800,000 by issuing up to 16 million common shares at $0.05 per share.
• Proceeds are earmarked for advancing the Lake Cargelligo Gold Project to drill‑ready status, exploration at the Lac Iris Polymetallic Project, and general working capital.
• Closing of the offering is expected on March 27, 2026; finders’ fees of up to 8% cash may be paid to qualified finders.

Key Details

• Offering size: Up to $800,000 gross proceeds.
• Shares offered: Up to 16,000,000 common shares.
• Issue price: $0.05 per share (non‑brokered).
• Use of proceeds:
• Advance Lake Cargelligo Gold Project to drill‑ready status.
• Exploration work at Lac Iris Polymetallic Project (Quebec, Canada).
• General working capital.
• Finders’ fees: Up to 8% cash payable to qualified finders.
• Statutory hold period: Shares subject to a four‑month and one‑day hold from issuance date.
• Closing date: Expected March 27, 2026.
• Regulatory disclaimer: Offering not registered under U.S. securities laws; cannot be offered or sold in the United States absent exemption or registration.

Notable Quotes

(No direct quotes were provided in the release.)