Business
Lake Winn Resources Corp. Announces Closing of Private Placements and Shares for Debt Settlement
(TheNewswire) Vancouver, British Columbia - TheNewswire - November ...
About this update from Lake Winn Resources Corp.
[{"type":"text","content":"Lake Winn Resources Corp. Announces Closing of Private Placements and Shares for Debt Settlement\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n Vancouver, British Columbia -\n \n \n TheNewswire\n \n \n - November 24, 2020 - Lake\nWinn Resources Corp. (\n \n \n TSXV:LWR\n \n \n )\n \n \n (\n \n \n Frankfurt:EEI\n \n \n )\n \n \n (\n \n \n OTC:EQTXF\n \n \n ), (the \"\n \n \n Company\n \n \n \" or\n\"\n \n \n Lake Winn\n \n \n \"), is pleased to announce that further to its news\nreleases dated September 16, 2020 and September 30, 2020, the Company\nhas closed the non-brokered private placement Equity Offerings for\naggregate proceeds of $2,750,000 and a Shares for Debt Transaction as\nfollows:\n \n \n \n \n Closing of Equity Offerings\n \n \n \n \n The Company is pleased to announce the closing of a\nnon-brokered private placement of approximately $1,250,000 in\nflow-through units (the \"\n \n \n FT Units\n \n \n \") of the Company (the\n\"\n \n \n FT\n \n \n Unit\n \n \n Offering\n \n \n \") at a subscription price of\n$0.10 per FT Unit. Each FT Unit consisted of one common share of the\nCompany (a \"\n \n \n FT Unit\nShare\n \n \n \") and one-half of one common share\npurchase warrant (each whole warrant a \"\n \n \n FT Unit Warrant\n \n \n \"), with each FT Unit Warrant entitling the holder\nthereof to acquire one common share of the Company (a\n\"\n \n \n FT Unit Warrant\nShare\n \n \n \") at a price of $0.30 for a period of\ntwo (2) years following the closing of the FT Unit Offering.\n \n \n \n \n The gross proceeds from the FT Unit Offering will be\nused by the Company to incur eligible \"Canadian exploration\nexpenses\" that will qualify as \"flow\n \n \n -\n \n \n through mining expenditures\" as\nsuch terms are defined in the\n \n \n Income Tax Act\n \n \n (Canada) (the\n\"\n \n \n Qualifying\nExpenditures\n \n \n \") related to the Company's\nprojects in Manitoba. All Qualifying Expenditures will be renounced in\nfavour of the subscribers of the FT Unit Shares effective December 31,\n2020.\n \n \n \n \n The Company is also pleased to announce the closing of\nan additional two non-brokered private placements of approximately\n$1,500,000 in units (the \"\n \n \n Units\n \n \n \") of the Company (collectively, the\n\"\n \n \n Unit\nOfferings\n \n \n \").\n \n \n \n \n The first Unit Offering was closed at a subscription\...