# Matachewan and McChip Acquire Labrador Gold Shares

> Matachewan and McChip buy 42.675 million Labrador Gold shares in private placement.
- Title: Matachewan and McChip Acquire Labrador Gold Shares | Shortify
- Summary: Matachewan and McChip buy 42.675 million Labrador Gold shares in private placement. Matachewan Consolidated Mines and McChip Resources acquired 42,675,809…
- Keywords: matachewan consolidated mines, mcchip resources, labrador gold corp, tsxv, common shares, private placement, non-brokered, money, business, Matachewan, McChip, Acquire
- Source: Financialpost — https://financialpost.com/globe-newswire/early-warning-disclosure-by-matachewan-consolidated-mines-limited-and-mcchip-resources-inc-2
- Read time: 1 min
- Topics: matachewan consolidated mines, mcchip resources, labrador gold corp, tsxv, common shares, private placement, non-brokered, money, business
## 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.
## Key takeaway

Matachewan Consolidated Mines and McChip Resources acquired 42,675,809 Labrador Gold Corp shares in a non-brokered private placement for $2.13 million.