From Financialpost · · 1m
Matachewan and McChip Acquire Labrador Gold Shares
Matachewan and McChip buy 42.675 million Labrador Gold shares in private placement.
In brief
Matachewan and McChip buy 42.675 million Labrador Gold shares in private placement. Matachewan Consolidated Mines and McChip Resources acquired 42,675,809 Labrador Gold Corp shares in a non-brokered private placement for $2.13 million. Originally reported by Financialpost.
Acquisition Announcement
Matachewan Consolidated Mines and McChip Resources Inc. announced they acquired 42,675,809 Labrador Gold Corp common shares on October 19, 2026.
First Tranche Details
The First Tranche involved 42,675,809 common shares issued at $0.05 per share for $2,133,790.45 total proceeds.
Ownership Split
Matachewan owns 21,337,905 shares (9.995%) and McChip owns 21,337,904 shares (9.995%) after the First Tranche closing.
Strategic Investment
The Acquirors hold shares as part of a strategic investment and plan to subscribe for additional shares in the second tranche.
Director Appointment
Raymond D. Harari was appointed as a director and is expected to become President of Labrador Gold Corp.
Future Plans
The Acquirors may buy or sell shares in private transactions or propose corporate transactions involving Labrador Gold Corp.
In short
Matachewan Consolidated Mines and McChip Resources acquired 42,675,809 Labrador Gold Corp shares in a non-brokered private placement for $2.13 million.
