(TheNewswire)
Vancouver, British Columbia - TheNewswire- August22, 2023 - Lake Winn Resources Corp. (TSXV:LWR ) ( FSE:EE1A) (the “ Company ”) announces that Gold Winn Resources Corp.(“ GoldWinn ”),the exploration company involved with the Company’s spin-out of itsCloud and Quartz properties in Manitoba (the “ Spin-Out ”), intends toincrease the size of its non-brokered private placement, as previouslyannounced in a news release issued on August 16, 2023 (the“ Offering ”), from a maximum of 7,500,000 special warrants (the“ SpecialWarrants ”) to 10,000,000 Special Warrants at a price of $0.025 per SpecialWarrant, for gross proceeds of up to $250,000.
All other termsof the Offering will remain the same as previously announced. EachSpecial Warrant will entitle the holder to one common share of GoldWinn (a “ Gold Winn Common Share ”). Each Special Warrant will automaticallyconvert, without the payment of any additional consideration, into oneGold Winn Common Share on the date (the “ ConversionDate ”)that is the earlier of (i) the date on which the Spin-Out is completed(immediately following the completion of the Spin-Out), and (ii)December 31, 2023. For greater certainty, no Special Warrants may beexercised by the holder thereof prior to the Conversion Date.Additional information on the Spin-Out is can be found in theCompany’s news releases dated July 12, 2023 and July 31, 2023(copies of which are available under the Company’s SEDAR+ profile at www.sedarplus.com ). The Offering, including the increase in size,remains subject to a number of conditions, including receipt of allnecessary corporate and regulatory approvals.
This newsrelease does not constitute an offer to sell or a solicitation of anoffer to buy any of the securities in the United States. Thesecurities have not been and will not be registered under the UnitedStates Securities Act of 1933, as amended (the “ U.S. SecuritiesAct ”)or any state securities laws and may not be offered or sold within theUnited States or to U.S. persons unless registered under the U.S.Securities Act and applicable state securities laws or an exemptionfrom such registration is available.
About Lake Winn
Lake Winn Resources Corp. is a mineral exploration company focused onadvancing its 100% owned Little Nahanni Lithium Project, which islocated in the western Northwest Territories near the Yukon Border.The project covers 7,080 hectares that encompasses a 7 km long, and upto 500 m wide, lithium, tantalum, cesium, and tin pegmatite dykeswarm. Lake Winn is listed on the TSX Venture Exchange.
On Behalf of the Board of Directors of Lake Winn Resources Corp.
PatrickPower
CEO andDirector
Lake WinnResources Corp.
Telephone: (604)218-8772
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-looking Statements: Certain statements in this news release are “forward-lookingstatements” which reflect the Company’s current expectations andprojections about future events and financial trends that it believesmight affect its financial condition, results of operations, businessstrategy and financial needs. In some cases, these forward-lookingstatements can be identified by words or phrases such as “may”,“might”, “will”, “expect”, “anticipate”,“estimate”, “intend”, “plan”, “indicate”, “seek”,“believe”, “estimates”, “predicts” or “likely”, or thenegative of these terms, or other similar expressions intended toidentify forward-looking statements. Whether actual results,performance or achievements will conform to the Company's expectationsand predictions 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, the Offering being fullysubscribed, and statements regarding the Company’s plans to completethe Spin-Out 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, the ability to obtain requisite approvalsfor the Offering, results of future resource estimates, future metalprices, availability of capital and financing on acceptable terms,general economic, market or business conditions, uninsured risks,regulatory changes, defects in title, availability of personnel,materials and equipment on a timely basis, accidents or equipmentbreakdowns, delays in receiving government approvals, unanticipatedenvironmental impacts on operations and costs to remedy same, andother exploration or other risks detailed herein and from time to timein the filings made by the Company with securities regulators. Theforward-looking information contained herein is made as of the datehereof and is not obligated to update or revise any forward-lookinginformation, whether as a result of new information, future events orotherwise, except as required by applicable securities laws.
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