(TheNewswire)
Vancouver, British Columbia – TheNewswire - March 30, 2023 – Lake Winn Resources Corp. ( TSXV: LWR.H ) , ( OTC:EQTXF) (the “ Company ”) is pleased to announce that it hasreceived conditional approval from the TSX Venture Exchange (the“ Exchange ”) of its application to graduate from the NEX board of theExchange to Tier 2 of the Exchange as a Tier 2 Mining Issuer (the“ Reactivation ”).
The Reactivation is subject to certain conditions whichthe Company must meet, including completion of a private placement,first announced in a news release dated March 27, 2023 (the“ ConcurrentFinancing ”). The Concurrent Financing willconsist of up to 4,200,000 Units (the “ Units ”) at a priceof $0.06 per Unit for proceeds of up to $252,000. Each Unit willconsist of one common share in the capital of the Company (a“ Share ”) and one common share purchase warrant (a “ Warrant ”). EachWarrant entitles the holder thereof to purchase one additional Shareat a price of $0.09 per Share for a period of 12 months from the dateof issuance.
Closing of the Reactivation and the ConcurrentFinancing is subject to a number of conditions, including receipt ofall necessary corporate and regulatory approvals.
About Lake Winn
Lake Winn Resources Corp. is a Vancouver based lithium and goldcompany based on exploration and development of lithium and goldprojects in Canada. The Company’s flagship property, Li Property which hosts the Little Nahanni Pegmatite Group (LNPG) lithium-cesium-tantalum ( LCT ) pegmatite dykesthat have been traced for over 13km with an exposed strike length andup to 500m width.
The company’s gold property, the Cloud Property is in the provinceof Manitoba, in the Flin Flon Gold Belt approximately 40 kilometersnorth?east of the town of Flin?Flon. Access to the property isprovided by Manitoba highway 10 to the all?weather Kississing LakeRoad. The company also has the Quartz Property 76 kilometres east ofFlin Flon where there are historic high grade gold drill intercepts.
On Behalf of the Board of Directors of Lake Winn Resources 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 these terms, or other similarexpressions intended to identify forward-looking statements. Whetheractual results, performance or achievements will conform to theCompany's expectations and predictions issubject to a number of known and unknown risks, uncertainties,assumptions and other factors, including without limitation, thoserisks and uncertainties discussed elsewhere on the website atwww.prosmartinc.com and in the Company's filings on SEDAR. Investorsshould not place undue reliance on forward-looking information. 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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