{"id":15998,"date":"2025-03-18T02:53:24","date_gmt":"2025-03-18T02:53:24","guid":{"rendered":"https:\/\/businesstriumphs.com\/index.php\/2025\/03\/18\/blue-lagoon-completes-second-tranche-of-private-placement-crescat-capital-phoenix-gold-fund-and-nicola-mining-increase-their-positions-2\/"},"modified":"2025-03-18T02:53:24","modified_gmt":"2025-03-18T02:53:24","slug":"blue-lagoon-completes-second-tranche-of-private-placement-crescat-capital-phoenix-gold-fund-and-nicola-mining-increase-their-positions-2","status":"publish","type":"post","link":"https:\/\/businesstriumphs.com\/index.php\/2025\/03\/18\/blue-lagoon-completes-second-tranche-of-private-placement-crescat-capital-phoenix-gold-fund-and-nicola-mining-increase-their-positions-2\/","title":{"rendered":"Blue Lagoon Completes Second Tranche of Private Placement \u2013 Crescat Capital, Phoenix Gold Fund and Nicola Mining Increase Their Positions."},"content":{"rendered":"<\/p>\n
\n

(TheNewswire) <\/p>\n

\n<\/div>\n

March 17, 2025 Vancouver, British Columbia TheNewswire \u2013 Blue Lagoon Resources Inc. (the \u2018Company\u2019) (CSE: BLLG; FSE: 7BL; OTCQB: BLAGF) is pleased to announce that it has closed a second tranche of its previously announced non-brokered private placement (the \u2018Offering\u2019), bringing the total funds raised across both tranches to $1,297,500 .<\/p>\n

In this second tranche, the Company issued <\/span> 2,800,000 units (the \u2018Units\u2019) at a price of $0.25 per Unit, raising gross proceeds of $700,000 <\/span><\/span> . <\/span><\/p>\n

The financing saw <\/span> continued participation from key institutional investors and stakeholders, including Crescat Capital LLC, Phoenix Gold Fund, and the Company\u2019s toll milling partner, Nicola Mining <\/span><\/span> , <\/span> all of whom have previously invested in Blue Lagoon. <\/span> This marks Crescat\u2019s fifth investment in the Company over the past three years, further validating its confidence in Dome Mountain\u2019s potential <\/span><\/span> , <\/span> while Phoenix Gold Fund and Nicola Mining\u2019s increased participation underscores their ongoing belief and support for the Company\u2019s management and growth strategy. <\/span><\/p>\n

\u2018We are excited to see <\/span> strong backing from sophisticated investors llike Crescat Capital, Phoenix Gold Fund, and Nicola Mining <\/span><\/span> , <\/span> all of whom recognize the value of <\/span> Dome Mountain\u2019s advancement towards production <\/span><\/span> ,\u2019 said <\/span> Rana Vig, <\/span><\/span> President & <\/span><\/span> CEO of Blue Lagoon Resources<\/span><\/span> . \u2018These investments come at a transformative time, following the recent granting of a <\/span> mining permit for Dome Mountain <\/span><\/span> \u2013 one of only nine such permits issued in British Columbia since 2015. With this key milestone achieved, we are now laser focused on last preparatory activities and tasks related to the safe and secure opening of Dome Mountain, including finishing the installation of our water treatment facility which is on track to be completed before the end of May. With these final steps underway, we are targeting early <\/span> Q3 2025 <\/span><\/span> as the start of <\/span> production <\/span><\/span> .,\u2019 he added. <\/span><\/p>\n

Each Unit in the <\/span> Offering <\/span> 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 \u2018Warrant\u2019) entitles the holder to purchase one additional common share of the Company at an exercise price of $0.35 per share until March 14, 2027. The proceeds raised from the Offering are expected to be used to finish the installation of the <\/span> water treatment facility <\/span> at the mine site, other <\/span> preparatory work <\/span> and for general corporate purposes. The securities issued under the Offering are subject to a four month hold period expiring on July 15, 2025, in accordance with applicable Canadian securities laws. <\/span><\/p>\n

Any production decision in advance of obtaining a feasibility study of mineral reserves demonstrating economic and technical viability of the project is associated with increased uncertainty and risk of failure. <\/span><\/p>\n

About Blue Lagoon Resources Inc. <\/span><\/p>\n

Blue Lagoon Resources is a Canadian based publicly listed mining company (CSE: BLLG; FSE: 7BL; OTCQB: BLAGF) focused on building shareholder value through the aggressive development of its 100% owned Dome Mountain Gold project. The Company is run by professionals with significant finance and mining experience and operates within a prime mining jurisdiction in British Columbia, Canada. With the granting of a full <\/span> mining permit, <\/span><\/span> a key milestone achieved in February 2025 \u2013 one of only nine such permits issued in British Columbia since 2015 \u2013 Blue Lagoon is now focused on last preparatory activities and tasks related to the safe and secure opening of the Dome Mountain Gold Mine, targeting <\/span> Q3 2025 <\/span><\/span> as the start of gold <\/span> production <\/span><\/span> . The Company\u2019s <\/span> primary objective has always been to become a cash-flowing mining company, to ultimately deliver tangible monetary value to shareholders, state, and local communities. <\/span><\/p>\n

For further information, please contact: <\/span><\/p>\n

Rana Vig <\/span><\/p>\n

President and Chief Executive Officer <\/span><\/p>\n

Telephone: \u00a0604-218-4766 <\/span><\/p>\n

Email: ranavig@bluelagoonresources.com <\/span><\/p>\n

The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. <\/span><\/p>\n

Statement Regarding Forward-Looking Information: This release includes certain statements that may be deemed \u2018forward-looking statements\u2019. All statements in this release, other than statements of historical facts, that address events or developments that Blue Lagoon Resources Inc. (the \u2018Company\u2019) expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words \u2018expects\u2019, \u2018targets\u2019, \u2018plans\u2019, \u2018anticipates\u2019, \u2018believes\u2019, \u2018intends\u2019, \u2018estimates\u2019, \u2018projects\u2019, \u2018potential\u2019, \u2018mine\u2019, \u2018production\u2019 and similar expressions, or that events or conditions \u2018will\u2019, \u2018would\u2019, \u2018may\u2019, \u2018could\u2019 or \u2018should\u2019 occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include results of exploration activities may not show quality and quantity necessary for further exploration or future exploitation of minerals deposits, volatility of gold and silver prices, delays in mine development activities, future cash flow expectations and continued availability of capital and financing, permitting and other approvals, and general economic, market or business conditions. \u00a0Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company\u2019s management, contractors and consultants on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management\u2019s, contractor\u2019s and consultants\u2019 beliefs, estimates or opinions, or other factors, should change. <\/span><\/p>\n

Not for distribution to United States Newswire Services or for dissemination in the United States <\/span><\/p>\n

Copyright (c) 2025 TheNewswire \u2013 All rights reserved. <\/p>\n<\/p>\n<\/div>\n

News Provided by TheNewsWire via QuoteMedia<\/p>\n<\/p>\n

This post appeared first on investingnews.com<\/div>\n","protected":false},"excerpt":{"rendered":"

(TheNewswire) March 17, 2025 Vancouver, British Columbia TheNewswire \u2013 Blue Lagoon Resources Inc. (the \u2018Company\u2019) (CSE: BLLG; FSE: 7BL; OTCQB: BLAGF) is pleased to announce that it has closed a second tranche of its previously announced non-brokered private placement (the \u2018Offering\u2019), bringing the total funds raised across both tranches to $1,297,500 . In this second […]<\/p>\n","protected":false},"author":0,"featured_media":15999,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-15998","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investing"],"_links":{"self":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/15998","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/comments?post=15998"}],"version-history":[{"count":0,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/15998\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media\/15999"}],"wp:attachment":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media?parent=15998"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/categories?post=15998"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/tags?post=15998"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}