LONCOR GOLD ANNOUNCES PRIVATE PLACEMENT FINANCING – Loncor Gold (OTC:LONCF) – Press Release

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/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

TORONTO, March 28, 2023 /CNW/ – Loncor Gold Inc. (“Loncor” or the “Company“) LN LONCF LO is pleased to announce a non-brokered private placement of up to 4,000,000 units of the Company at a price of Cdn$0.40 per unit for gross proceeds of up to Cdn$1,600,000 (the “Financing“).  Each such unit will consist of one common share of the Company and one common share purchase warrant of the Company, with each such warrant entitling the holder thereof to acquire one common share of the Company at an exercise price of Cdn$0.60 for a period of 24 months following the closing date of the Financing.  Closing of the Financing is subject to receipt of all necessary approvals, including approvals of the Toronto Stock Exchange and the board of directors of the Company.  The Company intends to use the proceeds from the Financing for general corporate purposes and working capital. 

The Company also reports that discussions are continuing with potential strategic partners with respect to the development of Loncor’s gold deposits.

This press release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.  The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“), or the securities laws of any state of the United States and may not be offered or sold within the United States (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements. 

About Loncor Gold Inc. 

Loncor is a Canadian gold exploration company focussed on the Ngayu Greenstone Gold Belt in the northeast of the Democratic Republic of the Congo

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