Lahontan Gold Accelerates Warrant Expiry After Price Threshold Met
Lahontan Gold Corp. is accelerating the expiry of outstanding warrants issued in 2023 after its stock price met a required trading threshold, prompting a May 18, 2026 deadline for holders to exercise or lose them.
Lahontan Gold Corp. (TSX.V: LG) (OTCQB: LGCXF) announced it is accelerating the expiry of outstanding warrants originally issued on September 1, 2023, after the company's stock price met a required trading threshold. The warrants, which were set to expire later, will now expire on May 18, 2026, at 5:00 p.m. Toronto time, unless exercised before that deadline.
The acceleration was triggered by the company's shares trading at or above the stipulated price for 20 consecutive trading days ending April 27, 2026. Under the terms of the warrant agreement, Lahontan Gold has the right to accelerate expiry once such conditions are met. Holders must submit their exercise documentation and payment prior to the accelerated expiry date; any unexercised warrants after that time will become null and void.
This move is significant for the company's capital structure as it may bring in additional funds if warrant holders choose to exercise. The proceeds could support Lahontan's ongoing development plans, particularly at its flagship Santa Fe Mine project in Nevada. The company holds four top-tier gold and silver exploration properties in the Walker Lane region of mining-friendly Nevada. The Santa Fe Mine project, covering 26.4 km², had historical production of 359,202 ounces of gold and 702,067 ounces of silver between 1988 and 1995 from open pit mines using heap-leach processing.
According to a NI 43-101 compliant technical report, the Santa Fe Mine has an Indicated Mineral Resource of 1,539,000 oz Au Eq (48,393,000 tonnes grading 0.92 g/t Au and 7.18 g/t Ag) and an Inferred Mineral Resource of 411,000 oz Au Eq (16,760,000 tonnes grading 0.74 g/t Au and 3.25 g/t Ag). The company plans to advance the project toward production, update the preliminary economic assessment, and drill test its satellite West Santa Fe project during 2025.
The acceleration of warrant expiry is a strategic financial move that could strengthen Lahontan's balance sheet without diluting existing shareholders beyond the original warrant terms. For more details on the warrant acceleration, the full press release is available at https://ibn.fm/KjK3I. Additional information about Lahontan Gold Corp. can be found on its website at http://www.lahontangoldcorp.com, and the latest news and updates are available at http://ibn.fm/LGCXF.