Business · Companies · 4 hrs ago
Matachewan and McChip acquire 14.5 million Labrador Gold shares
On October 23, Matachewan and McChip acquired 14,526,500 Labrador Gold shares in Toronto-based Labrador Gold Corp.'s second private-placement tranche.
A private placement raises money by selling shares directly to investors rather than through a public offering.
In this tranche, Labrador Gold issued 72,526,500 shares at five cents each.
The sale brought in $3,626,325 in gross proceeds for the company.
The share purchase links the two mining companies to Labrador Gold as investors, but the disclosed details do not state their resulting ownership percentages.
Matachewan and McChip announced the acquisition on October 26; no further steps or plans are stated.
Matachewan Consolidated Mines and McChip Resources acquired a total of 14,526,500 Labrador Gold shares.
The shares were acquired on October 23, 2026, when Labrador Gold closed the second tranche of a private placement.
The tranche issued 72,526,500 shares at $0.05 each and raised gross proceeds of $3,626,325.
The companies announced the acquisition in an early warning disclosure dated October 26, 2026.
- Who
- Matachewan Consolidated Mines and McChip Resources.
- What
- They acquired 14,526,500 Labrador Gold common shares.
- When
- The acquisition took place on October 23, 2026.
- Where
- Not stated.
- Why
- The shares were acquired in connection with the closing of Labrador Gold’s second-tranche private placement.
This story does not have two clearly opposing sides.
Matachewan and McChip acquired the shares in connection with the closing of Labrador Gold’s second-tranche private placement.
The companies announced the acquisition in an early warning disclosure.
- Shares acquired
- 14,526,500 Labrador Gold common shares
- Acquisition date
- October 23, 2026
- Private placement tranche
- 72,526,500 shares issued at $0.05 each
- Gross proceeds
- $3,626,325
- Acquirors
- Matachewan Consolidated Mines and McChip Resources