Business
Final Approval of Lincoln Mining Qualifying Transaction and Resumption of Trading
Final Approval of Lincoln Mining Qualifying Transaction and Resumption of Trading
About this update from Lincoln Gold Mining Inc
[{"type":"text","content":"\nFinal Approval of Lincoln Mining Qualifying Transaction and Resumption of Trading\n\n\n Aug. 20, 2009 (Filing Services Canada) -- Lincoln Mining Corporation (LMG - TSX Venture), (previously named LPT Capital Ltd.), is pleased to report that, further to its August 18, 2009 news release, Lincoln Mining has obtained final approval of the TSX Venture Exchange (the \"Exchange\") of the business combination transaction (the \"Merger\") with Lincoln Gold Corporation (\"Lincoln Gold\") which constitutes the \"Qualifying Transaction\" of Lincoln Mining under Exchange policy.As indicated in an Exchange bulletin issued today, common shares of Lincoln Mining will resume trading on the Exchange at market open on August 21, 2009. Lincoln Mining will be classified as a Tier 2 \"junior natural resource - mining\" company on the Exchange. After completion of the transactions comprising the Merger, Lincoln Mining has the following issued and outstanding securities:* 58,388,067 common shares;* Warrants to purchase 2,075,760 common shares of Lincoln Mining held by former holders of share purchase warrants of Lincoln Gold Corporation, at exercise prices ranging from Cdn$0.65 to US$4.35 per share. 1,317,500 of these warrants, with an exercise price of US$0.45 per share, will expire on August 23, 2009; and* warrants to purchase 14,627,531 common shares of Lincoln Mining at an exercise price of Cdn$0.25 per share until August 18, 2011, issued in connection with the private placement of Lincoln Mining that closed on August 18, 2009.Lincoln Mining?s flagship assets are the Pine Grove property in Nevada, and the La Bufa property in Chihuahua, Mexico.Pine Grove is an advanced stage gold property located approximately 20 miles south of the copper mining town of Yerington, Nevada. Past production is estimated at 240,000 ozs. gold and drilling by Teck Resources in the 1990's identified gold mineralization on the property. Lincoln Mining is currently working towards preparation of a pre-feasibility study and permitting for production.La Bufa is a gold-silver exploration property located in the Sierra Madre at the mining town of Guadalupe y Calvo, Chihuahua State, Mexico. Minera Lincoln de Mexico, a subsidiary of Lincoln Gold, is earning into a 60% ownership position from Almaden Resources Ltd., which controls approximately 2,300 hectares of land that surroun...