(TheNewswire)
Vancouver, B C - TheNewswire - May 15, 2023 - LakeWinn Resources Corp. (NEX:LWR.H ) ( OTC:EQTXF) (the “ Company ”) ispleased to announce that, further to its news releases dated March 27,2023, and March 29, 2023, it has closed its previously announcednon-brokered private placement (the “ Offering ”) of unitsof the Company (the “ Units ”) at a price of $0.06 per Unit.Each Unit consists of one common share in the capital of the Company (a “ Share ”) and one common share purchase warrant (a“ Warrant ”). Each Warrant entitles the holder thereof to purchaseone additional Share at a price of $0.09 per Share for a period of 12months from the date of issuance.
The Offering consisted of 4,308,334 Units for aggregategross proceeds of $258,500.04 . All securities issued inconnection with the closing of the Offering are subject to a statutoryhold period for four months plus a day in accordance with applicablesecurities legislation. The Offering remains subject to final approvalfrom the TSX Venture Exchange (the “ Exchange ”).
Proceeds will be used in support of the Company’sapplication to graduate from the NEX board of the Exchange to Tier 2of the Exchange as a Tier 2 Mining Issuer (the “ Reactivation ”).With the closing of the Offering, the Company has now fulfilled allconditions required for the Reactivation. The Company expects to betransferred to Tier 2 of the Exchange and to have the “.H” symbolremoved from the Company’s ticker in the imminent future.
About Lake Winn
Lake Winn Resources Corp., is a Vancouver based lithiumcompany, listed on the NEX Board of the TSX Venture Exchange (Symbol:LWR.H) focusing on exploration and development of lithium projects inCanada. The Company’s Li Property whichhosts the Little NahanniPegmatite Group (LNPG) lithium-cesium-tantalum( LCT )pegmatite dykes that have been traced for over 13km. The property islocated in the North West Territories and is 37km northwest of therecently closed tungsten mine (Cantung). A gated road that extendsnorthwest from Cantung passes within 5km of the LNPG property.
On Behalf of the Board of Directors of Lake WinnResources Corp.
Patrick Power
CEO and Director
Lake Winn Resources Corp.
Telephone: (604) 218-8772
“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 theseterms, or other similar expressions intended to identifyforward-looking statements. Whether actual results, performance orachievements will conform to the Company's expectations andpredictions is subject to a number of known and unknown risks,uncertainties, assumptions and other factors, including withoutlimitation, those risks and uncertainties discussed elsewhere on thewebsite at www.prosmartinc.com and in the Company's filings on SEDAR.Investors should not place undue reliance on forward-lookinginformation. The forward-looking information contained herein is madeas of the date hereof and is not obligated to update or revise anyforward-looking information, whether as a result of new information,future events or otherwise, except as required by applicablesecurities laws.
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