Labrador Gold investors Matachewan Consolidated Mines and McChip Resources acquired a combined 14,526,500 common shares on October 23, 2026, through the closing of the company’s second private-placement tranche. The purchases left the two joint actors holding approximately 19.99% of Labrador Gold’s outstanding common shares on a non-diluted basis, they announced on October 26.

Key Takeaways

  • Each investor bought 7,263,250 shares at $0.05 per share.
  • The full second tranche raised gross proceeds of $3,626,325 for Labrador Gold.
  • The acquisitions were completed treasury subscriptions, not marketplace purchases or a formal bid.

Labrador Gold closes second placement tranche

The second tranche of the non-brokered private placement comprised 72,526,500 common shares issued on a non-flow-through basis at $0.05 each. Matachewan and McChip subscribed under separate agreements with Labrador Gold, paying $363,162.50 apiece.

Because Labrador Gold issued the shares from treasury, the transactions provided financing to the company rather than transferring existing shares between investors on a marketplace. The disclosed gross proceeds cover the second tranche, not necessarily the entire offering.

Joint holding reaches 57.2 million shares

Following completion, Matachewan held 28,601,155 common shares and McChip held 28,601,154. Each position represented approximately 9.995% of the outstanding common shares on a non-diluted basis; together, the joint actors held 57,202,309 shares.

The investors described their holdings as strategic investments. Their subscriptions were made under subscription agreements and an October 19, 2026 investor rights agreement, which provided for a collective 19.99% holding after the second tranche, subject to its cap, TSXV acceptance and applicable law.

Raymond D. Harari was appointed a director in connection with the offering.

Early warning reports remain the next disclosure

Matachewan and McChip said each would file an early warning report under applicable securities laws. National Instrument 62-103’s early warning disclosure requirements specify the information required in news releases and reports; that regulatory framework does not itself verify these purchases or establish that the promised filings have been made.

The investors said the acquisitions did not constitute a formal bid and did not rely on an exemption from formal-bid requirements. They intend to review their holdings continually and may buy or sell shares or consider corporate transactions with Labrador Gold. Those statements describe possible future actions, not an announced additional purchase, sale or transaction.

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