San Lorenzo Gold raises $20M as investor demand soars after share surge

San Lorenzo Gold has expanded its private placement to $20 million after strong investor interest in the stock market today. The financing follows a sharp rise in the company's share price and positive drill results at its Salvadora project in Chile.

The move comes as the firm's market value has surged, outperforming competitors with similar copper-gold ventures in the region.

The company initially secured $15 million, with the full amount subscribed by investors. Due to high demand, an additional $5 million was added, bringing the total to $20 million. The funds will mainly speed up development at Salvadora, with the rest improving finance.

The financing is split into two parts: $15 million at $2.51 per unit and $5 million at $2.64 per unit. Each unit includes one common share and half a warrant, exercisable at $3.50 within a year. The deal also allows for cash finder's fees of up to 6% and broker warrants.

San Lorenzo Gold's share price has climbed from a 52-week low of CAD 0.06 in mid-2025 to over CAD 3.00. This increase has pushed its market capitalisation to between CAD 233 million and CAD 278 million. The rise follows positive operational updates, including strong drill results at Salvadora.

The company's market value has grown by roughly 45% since mid-2025, reaching CAD 15 million by February 2026. This performance outpaces peers like K2 Gold (up 22%) and Sociedad Química y Minera's exploration units (up 18%). Key improvements in late 2025, such as converting debt into equity, helped set the stage for this financing.

Final approval for the placement still requires sign-off from the TSX Venture Exchange.

The expanded financing will support faster development at Salvadora and boost San Lorenzo Gold's financial flexibility. With a stronger balance sheet and rising market confidence, the company aims to advance its exploration plans in Chile's coastal range. The deal's completion now depends on regulatory approval from the TSX Venture Exchange.