(TheNewswire)
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Vancouver, British Columbia – TheNewswire - May 23, 2024 – Lake WinnResources Corp. (TSXV: LWR, FSE: EE1A) (the“ Company ”) is pleased to announce a non-brokered private placement(the “ Offering ”) of up to 70,000,000 units of the Company (the“ Units ”) at a price of $0.05 per Unit for gross proceeds of up to$3,500,000.
Each Unit will consist of one common share in thecapital of the Company (a “ Share ”) and one Share purchase warrant (a“ Warrant ”). Each Warrant will be exercisable to purchase anadditional Share (a “ WarrantShare ”) at an exercise price of $0.08 perWarrant Share for a period of 24 months after the date of issuance.
Closing of the Offering is subject to a number ofconditions, including receipt of all necessary corporate andregulatory approvals. All securities issued in connection with theOffering will be subject to a statutory hold period of four monthsplus a day from the date of issuance in accordance with applicablesecurities laws.
The Company may pay finder’s fees on the Offeringwithin the amount permitted under the policies of the TSX VentureExchange (the “ TSXV ”). Assuming completion of the Offeringin full, the Company intends to use the proceeds from Offering asfollows: up to $2,500,000 on exploration expenditures for theCompany’s Little Nahanni Pegmatite project, (ii) up to $500,000 for outstanding accountspayable, (iii) subject to TSXV policies, up to $200,000 on digitaladvertising for the Company, and (iv) up to $300,000 for generalworking capital and administrative expenses.
This news release does not constitute an offer to sellor a solicitation of an offer to buy any of the securities in theUnited States. The securities have not been and will not be registeredunder the United States Securities Act of 1933, as amended (the“ U.S. SecuritiesAct ”) or any state securities laws and may notbe offered or sold within the United States or to U.S. persons unlessregistered under the U.S. Securities Act and applicable statesecurities laws or an exemption from such registration isavailable.
About Lake Winn
Lake Winn Resources Corp. is a mineral explorationcompany focused on advancing the 100% owned Little Nahanni Pegmatiteproject located in the Northwest Territories near the Yukon Border.The project covers an extensive lithium, cesium, and tantalumpegmatite dyke swarm. The project has had historic drilling andchannel sampling that confirm significant lithium, tantalum, cesium,and tin.
ON BEHALF OF THE BOARD OF DIRECTORS OF LAKE WINNRESOURCES CORP.
Patrick Power
President, CEO & Director
Lake Winn Resources Corp.
Telephone: (604) 218-8772
info@lakewinn.ca
www.lakewinn.ca
Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this release.
Forward-lookingStatements: Certain statements in this newsrelease are “forward-looking statements” which reflect theCompany’s current expectations and projections about future eventsand financial 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 ofthese terms, 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, delays resulting from or inability to obtain applicableregulatory approval for the Offering and the Offering being fullysubscribed, are forward-looking statements that involve various risksand uncertainties. Investors should not place undue reliance onforward-looking information. Important factors that could cause actualresults to differ materially from the Company’s expectations includeactual exploration results, results of future resource estimates,future metal prices, availability of capital and financing onacceptable terms, general economic, market or business conditions,uninsured risks, regulatory changes, defects in title, availability ofpersonnel, materials and equipment on a timely basis, accidents orequipment breakdowns, delays in receiving government approvals,unanticipated environmental impacts on operations and costs to remedysame, and other exploration or other risks detailed herein and fromtime to time in the filings made by the Company with securitiesregulators. 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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