Business
Proposed Issuance of Shares in Settlement of Debt
VANCOUVER, BC / ACCESSWIRE / November 13, 2018 / Lincoln Mining Corporation, TSX-V: LMG ("Li...
About this update from Lincoln Gold Mining Inc
[{"type":"text","content":"Proposed Issuance of Shares in Settlement of DebtVANCOUVER, BC / ACCESSWIRE / November 13, 2018 / Lincoln Mining Corporation, TSX-V: LMG (\"Lincoln\" or the \"Company\") announces it is arranging an agreement with an arm's length creditor pursuant to which Lincoln plans to issue up to 400,000 common shares (the \"Shares\") and 400,000 share purchase warrants (the \"Warrants\") to settle indebtedness of up to $20,000. The Shares issued will be at a deemed price of $0.05 per share, and each Warrant entitles the holder to purchase one common share at a price of $0.08 per share until April 26, 2022. The issuance of the shares remains subject to the approval of TSX Venture Exchange.The debt settlement with the creditor has been unanimously approved by the Company's independent directors. The Company expects that the proposed debt settlement will assist the Company in preserving its cash for working capital and seeking new financing transactions in order to maintain its operations and advance the permitting and development of the Company's Pine Grove project in Nevada. Lincoln Mining Corp. is a Canadian precious metals exploration and development company with two projects in various stages of exploration and development, namely the Pine Grove gold property in Nevada and the Oro Cruz gold property in California. In the United States, the Company operates under Lincoln Gold US Corp. and Lincoln Resource Group Corp., both Nevada corporations.For further information, please contact Investor Relations at 604-688-7377 or visit the Company's website at www.lincolnmining.com.On behalf of Lincoln Mining Corporation\"Paul Saxton\"Paul Saxton, President & CEO Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.THIS PRESS RELEASE INCLUDES FORWARD-LOOKING STATEMENTS OR INFORMATION. ALL STATEMENTS OTHER THAN STATEMENTS OF HISTORICAL FACT INCLUDED IN THIS RELEASE, INCLUDING WITHOUT LIMITATION, STATEMENTS REGARDING THE PROPOSED SHARES FOR DEBT TRANSACTION AND THE EXPECTED BENEFITS THEREOF, ARE FORWARD-LOOKING STATEMENTS THAT INVOLVE VARIOUS RISKS AND UNCERTAINTIES. THERE CAN BE NO ASSURANCE THAT SUCH STATEMENTS WILL PROVE TO BE ACCURATE AND ACTUAL RESULTS AND FUTURE EVENTS COULD DIFFER MATERIA...