Latest news with #Lahontan
Yahoo
4 days ago
- Climate
- Yahoo
Massive Fish Kill at California Trout Hatchery Will Impact Stocking Efforts for Years
A fish hatchery in California's Eastern Sierras experienced a major failure late last month due to a sustained power outage and a problem with the facility's backup generators. In an announcement on May 27 officials with the California Department of Fish and Wildlife said the power failure at the Fish Springs Trout Hatchery caused 'a widespread loss of fish,' totaling around 75 to 80 percent of the fish stocks there, a mixture of rainbow, brown, and Lahontan cutthroat trout. The losses at Fish Springs included fertilized eggs and fingerlings that were slated to be released next year, along with mature, catchable fish that would have been released in the coming months. Hatchery staff said this could impact stockings in the Eastern Sierras for the next two seasons, but that they would explore ways to minimize those impacts by bringing in fish from other hatcheries or buying eggs from private vendors. The trout raised at Fish Springs are typically stocked for recreational fishing at public waters across Mono and Inyo Counties, and it's one of 21 hatcheries operated by CDFW. 'We're devastated by the loss of these fish, which were the product of years of hard work and round-the-clock care by our expert hatchery staff,' CDFW program manager Russell Black said a release. Along with sourcing additional eggs and fish from other state-run hatcheries, Black explained that the agency's current priority is to assess and repair the facility's backup diesel generators. They were supposed to kick in during the power outage but didn't. The initial power outage occurred during the afternoon of May 20 and lasted for about two hours, according to CDFW, which had scheduled a contractor to fix the hatchery's backup generators just two days later, on May 22. It's unclear from the announcement if hatchery staff knew the generators were non-operational at the time the outage occurred — CDFW noted that backup power failures at its hatcheries are rare. Regardless, the effects were devastating for the trout as water levels dropped, temperatures rose, and dissolved oxygen levels decreased. Read Next: 'Senseless' Vandal Poisons Oregon Fish Hatchery, Killing 18,000 Salmon with Liquid Bleach In a statement Wednesday, the Los Angles Department of Water and Power, which supplies electricity to the Fish Springs Hatchery, said the initial power outage was caused by a car colliding with a power pole. The utility company said its crews repaired the outage as quickly as possible and clarified that the hatchery's other electrical problems were not its responsibility. 'While the loss of fish at the hatchery was unfortunate, we want to clarify that LADWP does not provide backup generators.'
Yahoo
22-04-2025
- Business
- Yahoo
Lahontan Announces Upsize to Private Placement of Units
Toronto, Ontario--(Newsfile Corp. - April 22, 2025) - Lahontan Gold Corp. (TSXV: LG) (OTCQB: LGCXF) (the "Company" or "Lahontan") is pleased to announce that, further to its press release of April 8, 2025, the Company has increased the size of its non-brokered private placement financing to up to 44,000,000 units (each, a "Unit") at a price of $0.05 per Unit for aggregate gross proceeds of up to $2,200,000 (the "Offering"). Each Unit is comprised of one common share of the Company (each, a "Common Share") and one-half of one whole Common Share purchase warrant (each whole warrant, a "Warrant") of the Company. Each Warrant entitling the holder thereof to purchase one Common Share at a price of $0.08 per Common Share for a period of two (2) years from the date of issuance, provided, however, that should the closing price at which the Common Shares trade on the TSX Venture Exchange (or any such other stock exchange in Canada as the Common Shares may trade at the applicable time) exceed CDN$0.12 for ten (10) consecutive trading days at any time following the date that is four months and one day after the date of issuance, the Company may accelerate the Warrant Term (the "Reduced Warrant Term") such that the Warrants shall expire on the date which is 30 business days following the date a press release is issued by the Company announcing the Reduced Warrant Term Gross proceeds raised from the Offering will be used for general working capital purposes and for exploration at the Company's Santa Fe Mine Project. Closing of the Offering is subject to receipt of all necessary corporate and regulatory approvals, including the approval of TSX Venture Exchange. All securities issued in connection with the Offering will be subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation. This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons as defined under applicable United States securities laws unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. About Lahontan Gold Corp. Lahontan Gold Corp. is a Canadian mine development and mineral exploration company that holds, through its US subsidiaries, four top-tier gold and silver exploration properties in the Walker Lane of mining friendly Nevada. Lahontan's flagship property, the 26.4 km2 Santa Fe Mine project, had past production of 359,202 ounces of gold and 702,067ounces of silver between 1988 and 1995 from open pit mines utilizing heap-leach processing*. The Santa Fe Mine has a Canadian National Instrument 43-101 compliant Indicated Mineral Resource of 1,539,000 oz Au Eq (grading 0.99 g/t Au Eq) and an Inferred Mineral Resource of 411,000 oz Au Eq (grading 0.76 g/t Au Eq), all pit constrained (Au Eq is inclusive of recovery, please see Santa Fe Project Technical Report*). The Company plans to continue advancing the Santa Fe Mine project towards production, update the Santa Fe Preliminary Economic Assessment, and drill test its satellite West Santa Fe project during 2025. For more information, please visit our website: * Please see the "Preliminary Economic Assessment, NI 43-101 Technical Report, Santa Fe Project", Authors: Kenji Umeno, P. Eng., Thomas Dyer, PE, Kyle Murphy, PE, Trevor Rabb, P. Geo, Darcy Baker, PhD, P. Geo., and John M. Young, SME-RM; Effective Date: December 10, 2024, Report Date: January 24, 2025. The Technical Report is available on the Company's website and SEDAR+. On behalf of the Board of Directors Kimberly Ann Founder, CEO, President, and Director FOR FURTHER INFORMATION, PLEASE CONTACT: Lahontan Gold Corp. Kimberly AnnFounder, Chief Executive Officer, President, DirectorPhone: 1-530-414-4400 Email: Website: Cautionary Note Regarding Forward-Looking Statements: Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the TSXV. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company's filings with Canadian securities regulators, which filings are available at NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. To view the source version of this press release, please visit Sign in to access your portfolio
Yahoo
05-02-2025
- Business
- Yahoo
Lahontan Announces Closing of Private Placement and Sale of Common Shares by Victoria Gold Corp.
Toronto, Ontario--(Newsfile Corp. - February 4, 2025) - Lahontan Gold Corp. (TSXV: LG) (OTCQB: LGCXF) (the "Company" or "Lahontan") is pleased to announce that, further to its press release of January 17, 2025, the Company has closed its non-brokered private placement financing for gross proceeds of Cdn$720,000 through the issuance of 36,000,000 common shares (each, a "Common Share") in the capital of the Company at a price of Cdn$0.02 per Common Share (the "Offering"). The Company also wishes to announce that Victoria Gold Corp. ("Victoria") has completed the sale of 42,132,139 Common Shares of Lahontan (the "Victoria Sale"), representing 17.4% of the Company's outstanding Common Shares, after giving effect to the Offering. The sale was made through a share purchase agreement in reliance upon the prospectus exemptions contained in NI 45-102. Lahontan understands the purchasers to be comprised of existing shareholders, including two prominent precious metals institutional investors. Kimberly Ann, Lahontan Gold Corp CEO, Chair, and Founder commented: "The Company is very pleased to close this fully subscribed no-warrant Offering and to see the completion of the Victoria Sale. Following closing of the Offering and completion of the Victoria Sale, a significant majority of the Company's Common Shares are now held by a group of very supportive long-term investors, including Company management, who share a common vision of the Company's future and the full development of the Santa Fe Mine project. In particular, the Victoria Sale removes a significant share overhang which we believe has negatively affected the Company's share price since Victoria announced on August 15, 2024 that it had entered into receivership. With management aligned with our key shareholders, Lahontan looks forward to a successful 2025, driving forward our mine permitting activities and targeting opportunities to enhance the Santa Fe Mine project Preliminary Economic Assessment." Gross proceeds raised from the Offering will be used for general working capital purposes as follows: (i) approximately 29% will be used for general and administrative purposes; (ii) approximately 29% will be used for exploration at the Company's Santa Fe Mine project; (iii) approximately 17% will be used for metallurgical testing and supporting consultants for the Company's Santa Fe Mine project; and (iv) approximately 25% will be used at the Company's Santa Fe Mine project for exploration permitting. Less than 10% of the proceeds from the Offering will be used for payments to non-arm's length parties of the Company other than normal course compensation of its officers, directors, employees and consultants as part of general working capital purposes or to persons conducting investor relations activities. All securities issued in connection with the Offering will be subject to a hold period of four months plus a day from the date of issuance (June 5, 2025) and the resale rules of applicable securities legislation. The Offering constituted a related party transaction within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101") as an insider of the Company acquired 10,000,000 Common Shares pursuant to the Offering. The Company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(b) and 5.7(1)(a) of MI 61-101, as the Company is not listed on a specified market and the fair market value of the participation in the Offering by the insider does not exceed 25% of the market capitalization of the Company in accordance with MI 61-101. The Company did not file a material change report in respect of the related party transaction at least 21 days before the closing of the of the Offering, which the Company deems reasonable in the circumstances in order to complete the Offering in an expeditious manner. About Lahontan Gold Corp. Lahontan Gold Corp. is a Canadian mine development and mineral exploration company that holds, through its US subsidiaries, four top-tier gold and silver exploration properties in the Walker Lane of mining friendly Nevada. Lahontan's flagship property, the 26.4km2 Santa Fe Mine project, had past production of 356,000 ounces of gold and 784,000 ounces of silver between 1988 and 1995 from open pit mines utilizing heap-leach processing (Nevada Division of Minerals, The Santa Fe Mine has a Canadian National Instrument 43-101 compliant Indicated Mineral Resource of 1,539,000 oz Au Eq (grading 0.99 g/t Au Eq) and an Inferred Mineral Resource of 411,000 oz Au Eq (grading 0.76 g/t Au Eq), all pit constrained (Au Eq is inclusive of recovery, please see Santa Fe Project Technical Report*). The Company plans to continue advancing the Santa Fe Mine project towards production, update the Santa Fe Preliminary Economic Assessment, and drill test its satellite West Santa Fe project during 2025. For more information, please visit our website: * Please see the "Preliminary Economic Assessment, NI 43-101 Technical Report, Santa Fe Project", Authors: Kenji Umeno, P. Eng., Thomas Dyer, PE, Kyle Murphy, PE, Trevor Rabb, P. Geo, Darcy Baker, PhD, P. Geo., and John M. Young, SME-RM; Effective Date: December 10, 2024, Report Date: January 24, 2025. The Technical Report is available on the Company's website and SEDAR+. On behalf of the Board of Directors Kimberly Ann Founder, CEO, President, and Director FOR FURTHER INFORMATION, PLEASE CONTACT: Lahontan Gold Corp. Kimberly AnnFounder, Chief Executive Officer, President, DirectorPhone: 1-530-414-4400 Email: Website: Cautionary Note Regarding Forward-Looking Statements: Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the TSXV. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company's filings with Canadian securities regulators, which filings are available at NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. To view the source version of this press release, please visit
