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Lake Victoria Gold to Issue Shares to Pay Debenture Interest

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Lake Victoria Gold (OTCQB: LVGLF) has announced two key developments. First, the company will issue 228,872 common shares at $0.195 per share to satisfy $44,630 in interest payments on convertible debentures worth $750,000 that were issued in July and August 2024.

Additionally, the company has extended its exclusivity period by 45 days with Nyati Resources (T) Limited, following their May 1, 2025 Letter of Intent, to complete due diligence and finalize joint venture agreements.

Lake Victoria Gold (OTCQB: LVGLF) ha annunciato due sviluppi importanti. In primo luogo, la società emetterà 228.872 azioni ordinarie a 0,195 $ per azione per soddisfare 44.630 $ di pagamenti di interessi su obbligazioni convertibili del valore di 750.000 $ emesse a luglio e agosto 2024.

Inoltre, la società ha prorogato il periodo di esclusività di 45 giorni con Nyati Resources (T) Limited, a seguito della Lettera di Intenti del 1 maggio 2025, per completare la due diligence e finalizzare gli accordi di joint venture.

Lake Victoria Gold (OTCQB: LVGLF) ha anunciado dos desarrollos clave. Primero, la compañía emitirá 228,872 acciones ordinarias a $0.195 por acción para cubrir $44,630 en pagos de intereses sobre bonos convertibles por un valor de $750,000 emitidos en julio y agosto de 2024.

Además, la empresa ha extendido su período de exclusividad por 45 días con Nyati Resources (T) Limited, tras su Carta de Intención del 1 de mayo de 2025, para completar la debida diligencia y finalizar los acuerdos de empresa conjunta.

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ë˜í•œ, 2025ë…� 5ì›� 1ì¼ìž ì˜í–¥ì„œì— ë”°ë¼ Nyati Resources (T) Limited와ì� ë…ì  ê¸°ê°„ì� 45ì� 연장하여 실사 완료 ë°� í•©ìž‘ íˆ¬ìž ê³„ì•½ ì²´ê²°ì� 마무리할 계íšìž…니ë‹�.

Lake Victoria Gold (OTCQB : LVGLF) a annoncé deux développements clés. Premièrement, la société émettra 228 872 actions ordinaires à 0,195 $ par action pour régler 44 630 $ de paiements d’intérêts sur des débentures convertibles d’une valeur de 750 000 $ émises en juillet et août 2024.

De plus, la société a prolongé sa période d’exclusivité de 45 jours avec Nyati Resources (T) Limited, suite à leur lettre d’intention du 1er mai 2025, afin de compléter la due diligence et finaliser les accords de coentreprise.

Lake Victoria Gold (OTCQB: LVGLF) hat zwei wichtige Entwicklungen bekannt gegeben. Erstens wird das Unternehmen 228.872 Stammaktien zu 0,195 $ pro Aktie ausgeben, um 44.630 $ an Zinszahlungen auf wandelbare Schuldverschreibungen im Wert von 750.000 $, die im Juli und August 2024 ausgegeben wurden, zu begleichen.

Darüber hinaus hat das Unternehmen die Exklusivitätsperiode mit Nyati Resources (T) Limited um 45 Tage verlängert, um nach dem Absichtsschreiben vom 1. Mai 2025 die Due Diligence abzuschließen und Joint-Venture-Vereinbarungen zu finalisieren.

Positive
  • None.
Negative
  • Dilution of existing shareholders through issuance of additional shares
  • Continued reliance on convertible debentures indicates potential cash flow constraints

Vancouver, British Columbia--(Newsfile Corp. - July 3, 2025) - Lake Victoria Gold Ltd. (TSXV: LVG) (OTCQB: LVGLF) (FSE: E1K) ("LVG" or the "Company") announces that under the terms of the $750,000 of convertible debentures issued on July 26, 2024 and August 8, 2024, it has elected to satisfy its obligation to pay an aggregate of $44,630 in interest accrued on the convertible debentures up to June 30th 2025 by issuing to such debenture holders an aggregate of 228,872 common shares in the capital of the Company (the "Shares") at a price of $0.195 per Share, as determined in accordance with the debenture terms.

The issuance of the Shares is subject to the approval of the TSX Venture Exchange.

The Company is also pleased to confirm that, further to news release of the exclusivity period under the May 1, 2025 Letter of Intent with Nyati Resources (T) Limited has been extended by an additional 45 days to allow both parties to complete due diligence and finalize definitive joint venture agreements.

About Lake Victoria Gold (LVG):
Lake Victoria Gold is a rapidly growing gold exploration and development company listed on the TSX Venture Exchange under the symbol LVG. Leveraging our unique position and experience, the Company is principally focused on growth and consolidation in the highly prolific and prospective Lake Victoria Goldfield in Tanzania.

The Company has a 100% interest in the Tembo project which has over 50 thousand meters of drilling and is located adjacent to Barrick's Bulyanhulu Mine. The Company also holds a 100% interest in the Imwelo Project which is a fully permitted gold project west of AngloGold Ashanti's Geita Gold Mine. With historical resource estimates and a 2021 pre-feasibility study, the project is fully permitted for mine construction and production, positioning it as a near-term development opportunity.

LVG has assembled a highly experienced team with a track record of developing, financing, and operating mining projects in Africa with management, directors and partners owning more than 60% of the shares. Notably, the Company is grateful for the validation that comes with the support and equity investment from and recent strategic partnership with .

On Behalf of the Board of Directors of the Company,

Simon Benstead
Executive Chairman & CFO
Phone: +1 604-685-9316
Email: [email protected]

For more information, please contact:

Simon Benstead
Executive Chairman & CFO
Phone:+ 1 604-685-9316
Email: [email protected]

Marc Cernovitch
CEO & Director
Phone: +1 604-685-9316
Email: [email protected]

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.

Cautionary Statement Regarding Forward-Looking Information
This news release includes certain "forward-looking information" within the meaning of applicable Canadian securities legislation, including: the completion of transaction and obtaining regulatory approval for the transaction. All statements in this news release that address events or developments that we expect to occur in the future are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, although not always, identified by words such as "expect", "plan", "anticipate", "project", "target", "potential", "schedule", "forecast", "budget", "estimate", "intend" or "believe" and similar expressions or their negative connotations, or that events or conditions "will", "would", "may", "could", "should" or "might" occur. All such forward-looking statements are based on the opinions and estimates of management as of the date such statements are made.

Forward-looking statements necessarily involve assumptions, risks and uncertainties, certain of which are beyond LVG's control, including risks associated with or related to: receipt of all regulatory approvals; the state of financing availability; the volatility of metal prices and LVG's common shares; actual exploration or development plans and costs differing materially from the Company's estimates; and other risks disclosed in the Company's public filings.

LVG's forward-looking statements are based on the opinions and estimates of management and reflect their current expectations regarding future events and operating performance and speak only as of the date hereof. LVG does not assume any obligation to update forward-looking statements if circumstances or management's beliefs, expectations or opinions should change other than as required by applicable law. There can be no assurance that forward-looking statements will prove to be accurate, and actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements. Accordingly, no assurance can be given that any events anticipated by the forward-looking statements will transpire or occur, or if any of them do, what benefits or liabilities LVG will derive therefrom. For the reasons set forth above, undue reliance should not be placed on forward-looking statements.

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FAQ

How many shares will LVGLF issue to pay its debenture interest?

Lake Victoria Gold will issue 228,872 common shares at a price of $0.195 per share to pay $44,630 in accrued interest.

What is the total value of Lake Victoria Gold's convertible debentures issued in 2024?

The company issued $750,000 worth of convertible debentures in July and August 2024.

How long has the exclusivity period been extended with Nyati Resources?

The exclusivity period under the May 1, 2025 Letter of Intent has been extended by 45 days to complete due diligence and finalize joint venture agreements.

What is the price per share for LVGLF's interest payment shares?

Lake Victoria Gold is issuing shares at $0.195 per share to satisfy the debenture interest payment.

When were Lake Victoria Gold's convertible debentures originally issued?

The convertible debentures were issued on July 26, 2024 and August 8, 2024.
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