Business
Lake Winn Announces Private Placement Of Units And Flow-Through Shares For Gross Proceeds Of Up To $4.5 Million
(TheNewswire) Vancouver, British Columbia – TheNewswire - July 31, 2023 ...
About this update from Lake Winn Resources Corp.
[{"type":"text","content":"Lake Winn Announces Private Placement Of Units And Flow-Through Shares For Gross Proceeds Of Up To $4.5 Million\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 July 31, 2023 – Lake Winn Resources\nCorp.\n \n \n (TSXV: LWR,\n \n FSE\n \n :\n \n EE1A\n \n ) (the “\n \n \n Company\n \n \n ”) is\npleased to announce that it will proceed with a non-brokered private\nplacement of up to 1\n \n 6\n \n ,\n \n 666\n \n ,667 units of the Company (the “\n \n \n Units\n \n \n ”) at a price\nof $0.0\n \n 6\n \n per Unit and up to 29,166,667\nflow-through common shares in the capital of the Company (the\n“\n \n \n FT Shares\n \n \n ” and individually a “\n \n \n FT Share\n \n \n ”) at $0.12\nper FT Share for gross proceeds of up to $4,500,000 (the\n“\n \n \n Offering\n \n \n ”).\n \n \n \n \n Each Unit will consist of one non-flow-through common\nshare in the capital of the Company (a “\n \n \n Share\n \n \n ”) and a Share\npurchase warrant (a “\n \n \n Warrant\n \n \n ”). Each Warrant will entitle the\nholder to purchase one additional non-flow-through common share in the\ncapital of the Company (a “\n \n \n Warrant Share\n \n \n ”) at a price of $0.10 per\nWarrant Share for a period of 24 months from the closing of the\nOffering.\n \n \n \n \n Each FT Share will be designated as a flow-through\nshare pursuant to the\n \n \n Income\nTax Act\n \n \n (Canada).\n \n \n \n \n The Company may pay a finder’s fee on the Offering\nwithin the amount permitted by the policies of the TSX Venture\nExchange (the “\n \n \n Exchange\n \n \n ”). Closing of the Offering is\nsubject to a number of conditions, including receipt of all necessary\ncorporate and regulatory approvals, including the Exchange. All\nsecurities issued in connection with the Offering will be subject to a\nstatutory hold period of four months plus a day from the date of\nissuance in accordance with applicable securities legislation. The\ngross proceeds from the FT Shares will be used to fund exploration\nwork on the Company’s lithium properties in the Northwest\nTerritories, and the net proceeds from the...