Matachewan and McChip acquire nearly 20% of Labrador Gold
Matachewan and McChip bought 42.7 million Labrador Gold shares at $0.05 each, reaching about a 19.99% stake, according to a GlobeNewswire early warning disclosure.
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what happened
Matachewan Consolidated Mines and McChip Resources reported that on October 19, 2026, they jointly acquired 42,675,809 common shares of Labrador Gold Corp. The shares were issued in the first tranche of the company's non-brokered private placement, priced at $0.05 each, for gross proceeds of $2,133,790.45.
According to the filing published by GlobeNewswire, the two acquirors now hold about 19.99% of the outstanding shares on a non-diluted basis. They describe the stake as a strategic investment and plan to take part in the second tranche. Raymond D. Harari was appointed a director in connection with the transaction and is expected to become president later. Each company will file an early warning report as required by securities law.
why it matters
The deal concerns a small mineral explorer, so it is unlikely to move broader markets. For investors in Labrador Gold, the main point is that a large block now sits with strategic holders and that the upcoming second tranche could change the company's share structure.
tags
instruments
sources
- Early Warning Disclosure by Matachewan Consolidated Mines, Limited and McChip Resources Inc. — globenewswire.com, 20 October 2026 at 22:45 UTC
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