Blue Lagoon Completes First Tranche of Private Placement

Blue Lagoon Completes First Tranche of Private Placement

 

(TheNewswire)

 
  
  Blue Lagoon Resources Inc. 
 
 

March 4, 2025 Vancouver, British Columbia TheNewswire - Blue Lagoon Resources Inc. (the " Company ") (CSE: BLLG; FSE: 7BL; OTCQB: BLAGF) is pleased to announce that it has closed the first tranche of the non-brokered private placement offering (the " Offering ") previously announced by the Company on February 24, 2025. The Company issued 2,390,000 units (the " Units ") at a price of $0.25 per Unit for aggregate gross proceeds of $597,500.

 

  Each Unit consists of one common share in the capital of the Company and one-half of one transferrable common share purchase warrant. Each whole warrant (a "   Warrant   ") entitles the holder to purchase one additional common share of the Company at an exercise price of $0.35 per share until March 4, 2027.  

 

  The proceeds raised from the Offering are expected to be used to advance the Dome Mountain gold project that recently received it mining permits and for general corporate purposes. The securities issued under the Offering are subject to a four month hold period expiring on July 5, 2025, in accordance with applicable Canadian securities laws.  

 

  The Company also announces that in order to preserve its cash flow, the Company will issue 70,175 common shares at a price of $0.285 in lieu of an advanced NSR payment in connection with its Freegold claims.  

 

  For   further   information,   please   contact:  

 

  Rana   Vig  

 

  President   and   Chief   Executive   Officer   Telephone:   604-218-4766  

 

  Email:    rana@ranavig.com   

 

  The   CSE   has   not   reviewed   and   does   not   accept   responsibility   for   the   adequacy   or   accuracy   of   this   release.  

 

  Not for distribution to United States Newswire Services or for dissemination in the United States  

 

Copyright (c) 2025 TheNewswire - All rights reserved.

 

 

News Provided by TheNewsWire via QuoteMedia

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