# San Lorenzo Gold Upsizes Private Placement to Raise Up to $80 Million

- URL: https://stocks.freetheai.org/news/san-lorenzo-gold-upsizes-private-placement-to-raise-up-to-80-million-668484
- Published: 2026-10-16T21:42:00Z
- Category: company_news; sentiment: mixed; impact: medium
- Symbols: [TSXV:SLG](https://stocks.freetheai.org/symbols/TSXV-SLG)
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San Lorenzo Gold Corp. (TSXV:SLG) has increased its best-efforts private placement offering to issue up to 15,094,400 shares at a price of $5.30 per share, aiming to generate gross proceeds of up to $80.0 million. The expanded offering builds on a previously announced financing plan to support ongoing operations. Shares were trading down 1.75% at 5.61 CAD following the announcement.

The raised capital is designated to fund exploration activities at the company's Salvadora property. The transaction is divided into two parts: a Listed Issuer Financing Exemption tranche of up to $50.0 million, which will be freely tradeable in Canada, and a non-LIFE tranche of up to $30.0 million. While the increased offering demonstrates capital availability for exploration, the issuance of additional shares will dilute existing equity holders.

Investors will look to the expected closing date on or about November 10, 2026, which remains subject to regulatory approvals. Subsequent updates on final proceeds, firm closing confirmation, and future drilling results at Salvadora will be key indicators of progress.

## Key points

- San Lorenzo Gold Corp. raised its private placement offering size to up to $80.0 million.
- The offering consists of up to 15,094,400 shares priced at $5.30 per share.
- Financing includes a freely tradeable LIFE tranche up to $50.0 million and a non-LIFE tranche up to $30.0 million.
- Proceeds will fund exploration work at the Salvadora property, with closing targeted for around November 10, 2026.

## Questions and answers

### How much money is San Lorenzo Gold raising in its private placement?

San Lorenzo Gold Corp. is raising up to $80.0 million by offering up to 15,094,400 shares at $5.30 per share.

### What will San Lorenzo Gold use the funds for?

The company plans to use the gross proceeds from the financing to fund exploration work at its Salvadora project.

### When is San Lorenzo Gold's offering expected to close?

The private placement offering is expected to close on or about November 10, 2026, subject to required approvals.