(TheNewswire)
February 1 st , 2023 – TheNewswire - Vancouver, British Columbia – Lake WinnResources Corp. (“ Lake Winn ” or the“ Company ”) (NEX:LWR.H) ( FSE:EEI) (OTC:EQTXF) – Lake Winn Resources Corp. is pleased toannounce that, further to its news release dated January 9, 2022, ithas closed its previously announced non-brokered private placement(the “ Offering ”) of units of the Company (the “ Units ”) at a priceof $0.06 per Unit. Each Unit consists of one common share in the capital of the Company (a “ Share ”) and one common sharepurchase warrant (a “ Warrant ”). Each Warrant entitles the holderthereof to purchase one additional Share at a price of $0.09 per Sharefor a period of 12 months from the date of issuance.
The Offering consisted of 4,798,336 Units for aggregategross proceeds of $287,900. All securities issued in connection withthe closing of the Offering are subject to a statutory hold period forfour months plus a day in accordance with applicable securitieslegislation.
Proceeds will be used for contractual payments pursuantto the Company’s purchase of the Blueberry property near BlueberryLake, Manitoba, as first set out in the Company’s news release datedSeptember 16, 2020. The Company received final approval from theExchange for the Blueberry Lake property acquisition on November 27,2020. The Company will also use part of theproceeds for general corporate working capital.
About Lake Winn
Lake Winn Resources Corp. is a Vancouver based lithiumand gold company, listed on the NEX Board of the TSX Venture Exchange(Symbol: LWR.H) focusing on the exploration and development of lithiumand gold projects in Canada. The Company’s Li Property which hosts the Little Nahanni Pegmatite Group (LNPG) lithium-cesium-tantalum ( LCT ) pegmatite dykesthat have been traced for over 13km. The property is located in theNorth West Territories and is 37km northwest of the recently closedtungsten mine (Cantung). A gated road that extends northwest fromCantung passes within 5km of the LNPG property.
The company’s Cloud Project is in the province ofManitoba, in the Flin Flon Gold Belt approximately 40 kilometersnortheast of the town of Flin ? Flon. Access to the property is provided by Manitoba highway10 to the all ? weatherKississing Lake Road. The company also has the Quartz property 76kilometers east of Flin Flon where there are historic high grade golddrill intercepts.
On Behalf of the Board of Directors of Lake WinnResources Corp.
Patrick Power
CEO and Director
Lake Winn Resources Corp.
Telephone: (604) 218-8772
info@lakewinn.ca
“Neither the Exchange nor itsRegulation Services Provider (as that term is defined in the policiesof the Exchange) accepts responsibility for the adequacy or accuracyof this release.”
Forward-lookingStatements: Certain statements in this pressrelease are "forward-looking statements" which reflect theCompany's current expectations and projections about future events andfinancial trends that it believes might affect its financialcondition, results of operations, business strategy and financialneeds. In some cases, these forward-looking statements can beidentified by words or phrases such as "may","might", "will", "expect","anticipate", "estimate", "intend","plan", "indicate", "seek","believe", "estimates", "predicts" or"likely", or the negative of these terms, or other similarexpressions intended to identify forward-looking statements. Whetheractual results, performance or achievements will conform to theCompany's expectations and predictions is subject to a number of knownand unknown risks, uncertainties, assumptions and other factors,including without limitation, those risks and uncertainties discussedelsewhere on the website at www.prosmartinc.com and in the Company'sfilings on SEDAR. Investors should not place undue reliance onforward-looking information. The forward-looking information containedherein is made as of the date hereof and is not obligated to update orrevise any forward-looking information, whether as a result of newinformation, future events or otherwise, except as required byapplicable securities laws.
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