Labrador Gold Corp. has announced plans to raise between $2,000,000 and $4,000,000 through a non-brokered private placement priced at $0.05 per share, involving a mix of flow-through and non-flow-through common shares.

The financing is led by Matachewan Consolidated Mines, Limited and McChip Resources Inc., which have committed to subscribe for $2,133,790.45 in flow-through shares. Under the terms of the arrangement, the lead investors will enter into an investor rights agreement granting them the right to nominate two directors to the board, alongside participation and top-up rights to maintain a pro rata ownership percentage, subject to regulatory acceptance and a 19.99% ownership ceiling. Shares acquired by the lead investors will be subject to a one-year contractual lock-up.

Concurrently, Labrador Gold intends to appoint Raymond D. Harari as President and a director of the company, effective upon the closing of the offering. Harari will serve as the initial board nominee for the lead investors, with a second nominee slated for appointment at the next annual meeting scheduled on or before April 30, 2027.

“Labrador Gold has a quality shareholder base and, in Roger, a geologist who took the Kingsway property from grassroots to a sale to New Found Gold, which few in this business ever achieve. I'm here to bring the same discipline to the capital markets strategy that he brings to exploration,” said Raymond D. Harari.

— Raymond D. Harari, Incoming President and Director

Gross proceeds from the sale of flow-through shares will be directed toward eligible Canadian exploration expenses on the company's mineral properties, while net proceeds from non-flow-through shares will support general working capital, corporate purposes, and ongoing exploration and development activities. The placement is expected to close on or about September 28, 2026, subject to customary closing conditions and final approval from the TSX Venture Exchange.

The financing supports the company's ongoing corporate strategy following final approval from the TSX Venture Exchange earlier in the year for its transition to operate as a hybrid mining and investment issuer.

Read the full announcement: Labrador Gold Announces Non-Brokered Private Placement of Up to $4 Million and Appointment of Raymond D. Harari as President and Director