Business
Lake Winn Announces Plan to Spin-Out Manitoba Gold Projects into New Company
(TheNewswire) Vancouver, British Columbia – TheNewswire - July 12, 2...
About this update from Lake Winn Resources Corp.
[{"type":"text","content":"Lake Winn Announces Plan to Spin-Out Manitoba Gold Projects into New Company\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 \n \n Vancouver, British Columbia –\n \n \n TheNewswire -\n \n \n July 12, 2023 –\n \n \n \n \n Lake Winn\nResources Corp.\n \n \n (TSXV:LWR\n \n \n )\n \n \n ,\n \n \n (\n \n \n OTC:EQTXF) (the “\n \n \n Company\n \n \n ”) is pleased to announce that the\nCompany has initiated plans to spin-out (the “\n \n \n Spin-Out\n \n \n ”) its\nCloud and Quartz properties in Manitoba into a new exploration\ncompany, to be named Gold Winn Resources Corp. (“\n \n \n Gold Winn\n \n \n ”). The\nCompany intends to complete the Spin-Out by way of a Plan of\nArrangement (the “\n \n \n PoA\n \n \n ”) and apply for the listing of Gold Winn\non a Canadian stock exchange (the “\n \n \n Stock Exchange\n \n \n ”).\nIn connection with the listing, it is intended that Gold Winn will\ncomplete one or more non-brokered private placements to fund general\nworking capital. Full details of the Spin-Out, including anticipated\ncapitalization structure and exchange ratio for the Company’s\nshareholders to receive shares of Gold Winn, will be outlined in a\nsubsequent news release and in a management information circular to be\ndistributed to the Company’s shareholders. The transaction will be\nsubject to shareholder, court, and applicable Stock Exchange\napproval.\n \n \n \n \n About the Cloud Project\n \n \n \n The Company acquired the Cloud Project on September 16, 2020 from W.S.\nFerreira Ltd. (“\n \n Ferreira\nLtd.\n \n ”). The Cloud Project is located in the Flin Flon Gold\nBelt and comprises of eight mining claims as well as an area of\ninterest. The Company has drilled eight holes as part of a 1683 meter\ndrill program on the Cloud Project, completed in February of 2021.\n \n \n \n About the Quartz Property\n \n \n \n The Company acquired the Quartz Property on January 6, 2021 from\nFerreira Ltd. The Quartz Property is located near the southern shores\nof Rood, east of the Flin Flon Gold Belt and comprises of two mining\nclaims.\n \n \n \n About Lake Winn\n \n \n \n \n Lake Winn Resources Corp., is a Vancouver based gold\ncompany, listed on the TS...