Loncor Gold Inc. Successfully Closes Brokered Private Placement
Toronto, Ontario — Loncor Gold Inc. (TSX: LN) (OTCQX: LONCF) (FSE: LO5) announced on May 23, 2025, the successful closure of its brokered private placement, raising gross proceeds of C$9.4 million. The company sold 17,090,910 units at C$0.55 per unit, with each unit comprising one common share and half a warrant. Each whole warrant allows the purchase of one common share at C$0.80 until May 23, 2028.
Red Cloud Securities acted as the sole agent for the placement, receiving C$503,999 in fees and 877,562 broker warrants exercisable at C$0.61 per share until May 23, 2028. The funds raised will be utilized to support exploration activities at Loncor’s Imbo Project in the Democratic Republic of the Congo’s Ngayu Greenstone Belt and for general corporate purposes.
Company Overview
Loncor Gold Inc. is a materials sector company based in Toronto, Canada, specializing in exploration and mining services. The company focuses on exploring and developing gold projects, serving customers globally. Loncor is listed on the Toronto Stock Exchange and trades in Canadian dollars (CAD).
Financial Snapshot
- Close Price (2025-05-20): C$0.81
- 52 Weeks High (2025-05-19): C$0.95
- 52 Weeks Low (2024-06-17): C$0.3275
- Market Cap: C$102,850,000
- Price Earnings Ratio: -23.57
The successful private placement is a strategic move for Loncor Gold as it seeks to advance its exploration projects and strengthen its financial position. The company continues to focus on its core operations in the metals and mining industry, with a particular emphasis on gold exploration and development.