Business
Lincoln Gold Closes Oversubscribed Private Placement
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 Closes Oversubscribed Private PlacementNOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATESVANCOUVER, BC / ACCESSWIRE / June 4, 2021 / Lincoln Gold Mining Inc. (\"Lincoln\" or the \"Company\") (TSXV:LMG) is pleased to announce that further to its news releases of May 5 and May 27, 2021, it has closed its oversubscribed non-brokered private placement offering (the \"Private Placement\") of 2,768,666 units of the Company (the \"Units\") at a price of $0.15 per Unit to raise gross proceeds of $415,300.Each Unit consists of one common share in the capital of the Company (a \"Common Share\") and one Common Share purchase warrant (a \"Warrant\"). Each Warrant entitles the holder, on exercise thereof, to purchase one additional Common Share at a price of $0.25 for a period of 24 months from the closing of the Private Placement.The Company paid aggregate cash finders' fees of $10,500 and issued 70,000 Finders' Warrants in connection with the Private Placement. Each Finder's Warrant entitles the holder to acquire one common share of the Company at $0.25 per share for 24 months from the date of closing.All securities issued in connection with the Private Placement are subject to a four-month hold period expiring October 5, 2021, under applicable Canadian securities laws, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside Canada.Net proceeds from the Private Placement will be primarily used towards a pre-feasibility study and the final stages of the permitting process for the Company's Pine Grove Gold Project in Nevada and for general working capital purposes.This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the \"U.S. Securities Act\") or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws, unless an exemption from such registration is available.About LincolnLincoln Gold Mining Inc. is an advanced-stage gold mine exploration and development company holding a 100% inter...