Lake Victoria Gold Launches $7.5M Private Placements to Fund Tanzanian Projects
Funding rounds aim to advance LVG's exploration next to Barrick Gold and AngloGold Ashanti mines.
Lake Victoria Gold (TSXV: LVG) (OTCQB: LVGLF) (FSE: E1K) has unveiled plans for a significant financing package, announcing two private placements that could raise up to $7.5 million. The move marks a decisive step toward expanding its gold exploration footprint in Tanzania’s mineral-rich Lake Victoria Goldfields.
The company will offer up to $6 million through a non-brokered LIFE private placement priced at $0.175 per unit, with a minimum target of $3 million. Each unit will consist of one common share and one-half of a warrant, with each full warrant allowing the holder to buy an additional share at $0.27 for three years. In a parallel effort, Lake Victoria Gold plans to raise as much as $1.5 million via a concurrent non-brokered placement at the same price per share.
Strategic Focus on Key Gold Projects
Management intends to allocate the proceeds toward exploration and maintenance at its Tembo and Imwelo gold projects, as well as general working capital. Tembo sits adjacent to Barrick Gold’s (NYSE: B) (TSX: ABX) Bulyanhulu mine, while Imwelo lies just west of AngloGold Ashanti’s (NYSE: AU) Geita Gold Mine. These strategic locations give Lake Victoria Gold a foothold near two of Tanzania’s most prominent producers.
The company expects to close the placements around August 29, 2025, pending TSX Venture Exchange approval. Certain insiders plan to participate, a move that qualifies as a related party transaction but remains exempt from formal valuation and minority approval requirements.
LIFE Exemption Opens Access for Investors
Lake Victoria Gold will rely on Canada’s Listed Issuer Financing Exemption, allowing securities from the LIFE offering to be issued without a hold period. This exemption, available under National Instrument 45-106, is designed to make financing easier for public companies. The concurrent placement, in contrast, will carry a standard four-month-plus-one-day hold period.
Investors can access the offering document through the company’s website and SEDAR+ to review terms before committing to the raise. Closing remains contingent on standard regulatory conditions, and the company may pay finder’s fees in connection with the transactions.
Building Momentum in Tanzania
Lake Victoria Gold has been steadily consolidating its position in the Lake Victoria region, a zone long recognized for its gold potential. Alongside its 100% interest in both Tembo and Imwelo, the company benefits from a partnership with Taifa Group, Tanzania’s largest mining contractor. Taifa has committed to handling civil and mining work for Imwelo, bringing more than three decades of expertise.
With this capital raise, Lake Victoria Gold signals its intent to accelerate exploration in a region dominated by established players such as Barrick and AngloGold Ashanti, while building the financial base to transform its projects into production-ready assets.
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