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Lincoln Gold Announces Non-Brokered Private Placement of Units and Flow Through Shares
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES ...
About this update from Lincoln Gold Mining Inc
[{"type":"text","content":"Lincoln Gold Announces Non-Brokered Private Placement of Units and Flow Through SharesNOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATESVANCOUVER, BC / ACCESSWIRE / April 21, 2022 / Lincoln Gold Mining Inc. (\"Lincoln\" or the \"Company\") (TSXV:LMG) is pleased to announce a non-brokered private placement offering (the \"Unit Private Placement\") of up to 5,000,000 units of the Company (each, a \"Unit\") at a price of $0.08 per Unit to raise gross proceeds of up to $400,000. Net proceeds from the Unit Private Placement will be primarily used towards the mine operations permitting process and the pre-feasibility study for the Company's Pine Grove Gold Project in Nevada, and for general working capital purposes.Each Unit will consist of one common share in the capital of the Company (a \"Common Share\") and one half a Common Share purchase warrant (each whole warrant, a \"Warrant\"). Each Warrant will entitle the holder, on exercise thereof, to purchase one additional Common Share (a \"Warrant Share\") at a price of $0.18 per Warrant Share for a period of 24 months from the closing of the Unit Private Placement.In addition, the Company announces a non-brokered private placement offering (the \"Flow-Through Private Placement\", together with the Unit Private Placement, the \"Offering\") of Common Shares that will qualify as \"flow-through shares\" within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the \"Tax Act\") (\"Flow-Through Shares\") consisting of up to 3,000,000 Flow Through Shares at a price of $0.10 per Flow-Through Share for gross proceeds of up to $300,000. Net proceeds from the Flow-Through Private Placement will be used to incur eligible \"Canadian exploration expenses\" that are \"flow-through mining expenditures\" (as such term is defined in the Tax Act) related to exploration expenses at the Shawinigan nickel, copper and cobalt project located near Shawinigan, P.Q. There are no Common Share purchase warrants attached to the Flow-Through Private Placement.Closing of the Offering is subject to all necessary regulatory approvals including acceptance from the TSX Venture Exchange. All securities issued in connection with the Offering will be subject to a four-month hold period from the applicable closing date(s) under applicable Canadian securities laws, in addi...