LEXT:CC - Lexston Mining Corporation Announces a Private Placement to Raise up to $400000
(TheNewswire)
Vancouver, British Columbia – TheNewswire - April 26, 2024 - LexstonMining Corporation (the “Company” or “Lexston” )(CSE:LEXT) (OTC:LEXTF) (Frankfurt:W5G) is pleased to announce anon-brokered private placement to raise gross proceeds of up to$400,000 through the issuance of up to 6,666,666 units at a price of$0.06 per unit (the “PrivatePlacement” ). Each unit will consist of onecommon share and one common share purchase warrant. Each commonshare purchase warrant will entitle the holder to purchase one commonshare at a price of $0.08 for two years from the date ofissuance.
The Company plans to use the proceeds of the PrivatePlacement for general working capital and exploration of mineralproperties. Certain directors and officers of the Company mayparticipate in the Private Placement. Finder’s fees in cash and/orsecurities may be paid on gross proceeds of the Private Placement, aspermitted by securities laws.
The securities to be issued in connection with thePrivate Placement are subject to the Company’s filing requirementswith the Canadian Securities Exchange. All securities will be subjectto a four-month statutory hold period after closing.
About Lexston MiningCorporation
The Company is a Canadian mineral exploration company,focused on the acquisition and development of mineral projects, withthe objective to enhance value to all its stakeholders. The Companyhas a mineral exploration projects in British Columbia and Nunavut,Canada.
On Behalf of the Board ofDirectors
LEXSTON MINING CORPORATION
Jagdip Bal
Chief Executive Officer
Telephone: (604) 928-8913
Email: info@lexston.ca
The Canadian Securities Exchange hasnot reviewed and does not accept responsibility for the adequacy oraccuracy of the content of this news release.
Forward-looking statements
This news release contains"forward-looking information" under applicable Canadiansecurities legislation. Such forward-looking information reflectsmanagement's current beliefs and are based on a number of estimatesand/or assumptions made by and information currently available to theCompany that, while considered reasonable, are subject to known andunknown risks, uncertainties, and other factors that may cause theactual results and future events to differ materially from thoseexpressed or implied by such forward-looking information. Readers arecautioned that such forward-looking information are neither promisesnor guarantees and are subject to known and unknown risks anduncertainties including, but not limited to, general business,economic, competitive, political and social uncertainties, uncertainand volatile equity and capital markets, lack of available capital,actual results of exploration activities, environmental risks, futureprices of base and other metals, operating risks, accidents, labourissues, objections by aboriginal people, delays in obtaininggovernmental approvals and permits, obtaining consents of aboriginalpeople and other risks in the mining industry.
These statements include but are notlimited to obtaining financing, exploration permits, exploration ofproperties for minerals, liquidity of the common shares of the Companyand future financings of the Company. These statements reflectmanagement's current estimates, beliefs, intentions, and expectations.They are not guarantees of future performance. The Company cautionsthat all forward- lookingstatements are inherently uncertain and that actual performance may beaffected by many material factors, many of which are beyond theCompany’s control. Such factors include, among other things: risksand uncertainties relating to the acquisition of new properties,liquidity of the common shares of the Company, financings, the marketvaluing the Company in a manner not anticipated by management of theCompany. Accordingly, actual and future events, conditions andresults may differ materially from the estimates, beliefs, intentionsand expectations expressed or implied in the forward-lookinginformation. Except as required under applicable securitieslegislation, the Company does not undertake to publicly update orrevise forward-looking information.
The Company is presently anexploration stage company. Exploration is highly speculative innature, involves many risks, requires substantial expenditures, andmay not result in the discovery of mineral deposits that can be minedprofitably. Furthermore, the Company currently has no reserves on itsproperties. As a result, there can be no assurance that suchforward-looking statements will prove to be accurate, and actualresults and future events could differ materially from thoseanticipated in such statements.
Copyright (c) 2024 TheNewswire - All rights reserved.