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Lake Winn Announces Extension of Private Placement and Provides Update on Binding Letter of Intent with Jaxon Mining Inc.
(TheNewswire) Vancouver, British Columbia – TheNewswire - August 18, 202...
About this update from Lake Winn Resources Corp.
[{"type":"text","content":"Lake Winn Announces Extension of Private Placement and Provides Update on Binding Letter of Intent with Jaxon Mining Inc.\n\n\n (TheNewswire)\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n Vancouver, British Columbia –\n \n\n TheNewswire -\n \n\n August 18, 2025 – Lake Winn Resources\nCorp.\n \n\n (TSXV: LWR, FSE: EE1A) (the\n“\n \n\n Company\n \n\n ”) announces that further to its news release dated June 2,\n2025, the Company is still proceeding with a non-brokered private\nplacement (the “\n \n\n Offering\n \n\n ”) of up to 11,818,182 units (the\n“\n \n\n Units\n \n\n ”) at a price of $0.055 per Unit, for gross proceeds of up\nto $650,000.\n \n\n\n\n The Company anticipates closing the first tranche of\nthe Offering (the “\n \n\n First\nTranche\n \n\n ”) in the week of August 18\n \n\n th\n \n\n .\n \n\n\n\n The Company intends to use the net proceeds from the\nOffering for exploration costs related to the Company’s Little\nNahanni project and for general working capital.\n \n\n\n\n Closing of the First Tranche and the Offering is\nsubject to a number of prescribed conditions, including, without\nlimitations, approval of the TSX Venture Exchange (the “\n \n\n TSXV\n \n\n ”). The outside\ndate upon which final acceptance of the Offering will be granted by\nthe Exchange has been extended until August 2025.\n \n\n\n\n The Company may pay finder’s fees on the Offering\nwithin the amount permitted under the policies of the TSXV.\n \n\n\n\n Update on Binding Letter of Intent\nwith Jaxon Mining Inc.\n \n\n\n\n On July 24, 2025, the Company announced a binding\nletter of intent with Jaxon Mining Inc. (“\n \n\n Jaxon\n \n\n ”) in\nconnection with Jaxon’s Blunt Mountain\nsilver-antimony-gold-lead-zinc-copper property (the “\n \n\n LOI\n \n\n ”). The\nCompany’s stock was halted the same day given that such proposed\ntransaction may have constituted a Fundamental Acquisition under TSXV\npolicies.\n \n\n\n\n Given the time and expense related to a possible\nFundamental Acquisition, the Company and Jaxon have terminated the LOI\nwithout recourse pursuant to a termination agreement dated August 18,\n2025.\n \n\n\n\n The Company expects to continue to focus on its key\ncritical miner...