LPT Capital Ltd. and Lincoln Gold Corporation Close Business Combination and Financing

About this update from Lincoln Gold Mining Inc

[{"type":"text","content":"\n\n\n\nVANCOUVER, Aug. 18 /CNW/ - Lincoln Mining Corporation (previously named\nLPT Capital Ltd.) ("Lincoln Mining") (TSXV: LMG.P) is pleased to report that,\nfurther to the joint news release of Lincoln Gold Corporation ("Lincoln Gold")\nand LPT Capital Ltd. dated August 11, 2009, the parties have closed the\nbusiness combination transaction (the "Merger") effective August 18, 2009,\nsubject to receipt of final approval from the TSX Venture Exchange (the\n"Exchange") with respect to the "Qualifying Transaction" of LPT Capital Ltd.\nas a capital pool company.\n\n\nConcurrent with the closing of the Merger on August 18, 2009, Lincoln\nMining completed a private placement of units (on a post-consolidated basis)\nto raise gross proceeds of $4.97 million through the issue of 29,255,057 units\nat a price of $0.17 per unit. Each unit consists of one post-consolidated\ncommon share of Lincoln Mining and one-half of one warrant, with each whole\nwarrant entitling the holder thereof to purchase one additional common share\nof Lincoln Mining at a price of $0.25 until August 18, 2011. The securities\nissued under the private placement are subject to a four-month hold period in\nCanada expiring on December 19, 2009 in accordance with applicable Canadian\nsecurities laws and the policies of the Exchange.\n\n\nIn connection with the closing of the private placement, finder's fees\ntotaling $232,589 in cash and 670,588 shares of Lincoln Mining are payable,\nrepresenting 8% of the funds introduced by the finders to Lincoln Mining.\n\n\nPrior to the closing of the Merger, Lincoln Mining completed a share\nconsolidation, effective August 17, 2009, on the basis of one (1) new share\nfor every one and one-half (1.5) pre-consolidation shares and changed its name\nfrom "LPT Capital Ltd." to "Lincoln Mining Corporation".\n\n\nPursuant to the completion of the plan of arrangement under the Merger,\neach shareholder of Lincoln Gold as at the close of business on August 17,\n2009 is entitled to 0.31 post-consolidated shares of Lincoln Mining for each\none share of Lincoln Gold. Olympia Trust Company, Lincoln Mining's transfer\nagent, will be mailing a letter of transmittal to the registered shareholders\nof Lincoln Gold providing instructions on how to exchange share certificates\nof ...

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