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Lake Winn Provides Update With Respect to its Private Placement and a Corporate Update on its Cloud Project, Flin Flon Gold Belt, Manitoba
(TheNewswire) Vancouver, British Columbia – August 23, 2024 – TheNewswire...
About this update from Lake Winn Resources Corp.
[{"type":"text","content":"Lake Winn Provides Update With Respect to its Private Placement and a Corporate Update on its Cloud Project, Flin Flon Gold Belt, Manitoba\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 Vancouver, British Columbia –\nAugust 23, 2024 –\n \n\n TheNewswire –\n \n\n\n\n Lake Winn Resources Corp.\n \n\n (TSXV: LWR, FSE: EE1A) (the “\n \n\n Company\n \n\n ”)\nannounces, further to its news release of July 30, 2024, that the\nCompany has received an extension from the TSX Venture Exchange (the\n“\n \n\n TSXV\n \n\n ”) to close its non brokered private placement (the\n“\n \n\n Offering\n \n\n ”) on or before September 20, 2024.\n \n\n\n\n The Offering has been reduced from 70,000,000 units of\nthe Company (the “\n \n\n Units\n \n\n ”) to 40,000,000 Units at a price of\n$0.05 per Unit for gross proceeds of up to $2,000,000.\n \n\n Each Unit will consist of one common share in the capital of\nthe Company (a “\n \n\n Share\n \n\n ”) and one Share purchase warrant (a\n“\n \n\n Warrant\n \n\n ”). Each Warrant will be exercisable to purchase an\nadditional Share (a “\n \n\n Warrant\nShare\n \n\n ”) at an exercise price of $0.08 per\nWarrant Share for a period of 24 months after the date of issuance.\n \n\n\n\n The Company closed tranche one of the Offering on June\n25, 2024 (3,680,000 Units for gross proceeds of $184,000) and tranche\ntwo of the Offering closed on July 30, 2024 (1,200,000 Units for gross\nproceeds of $60,000). The Company expects to close one or more\ntranches of the Offering on or before September 20, 2024.\n \n\n\n\n Closing of the Offering is subject to a number of\nconditions, including receipt of all necessary corporate and\nregulatory approvals. All securities issued in connection with the\nOffering will be subject to a statutory hold period of four months\nplus a day from the date of issuance in accordance with applicable\nsecurities laws.\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 Updated Use of Proceeds\n \n\n\n\n Assuming completion of the Offering in full, the\nCompany has updated its use of proceeds and intends to use the net\nproceeds from Offering as follows: (i)...