Lake Winn Announces Closing of Private Placement and Fulfillment of Conditions for NEX Reactivation
Vancouver, British Columbia – May 15, 2023 – Lake Winn Resources Corp. (NEX: LWR.H, OTC: EQTXF) (the “Company”) is pleased to announce that, further to its news releases dated March 27, 2023, and March 29, 2023, it has closed its previously announced non-brokered private placement (the “Offering”) of units of the Company (the “Units”) at a price of $0.06 per Unit. Each Unit consists of one common share in the capital of the Company (a “Share”) and one common share purchase warrant (a “Warrant”). Each Warrant entitles the holder thereof to purchase one additional Share at a price of $0.09 per Share for a period of 12 months from the date of issuance.
The Offering consisted of 4,308,334 Units for aggregate gross proceeds of $258,500.04. All securities issued in connection with the closing of the Offering are subject to a statutory hold period for four months plus a day in accordance with applicable securities legislation. The Offering remains subject to final approval from the TSX Venture Exchange (the “Exchange”).
Proceeds will be used in support of the Company’s application to graduate from the NEX board of the Exchange to Tier 2 of the Exchange as a Tier 2 Mining Issuer (the “Reactivation”). With the closing of the Offering, the Company has now fulfilled all conditions required for the Reactivation. The Company expects to be transferred to Tier 2 of the Exchange and to have the “.H” symbol removed from the Company’s ticker in the imminent future.
About Lake Winn
Lake Winn Resources Corp., is a Vancouver based lithium company, listed on the NEX Board of the TSX Venture Exchange (Symbol: LWR.H) focusing on exploration and development of lithium projects in Canada. The Company’s Li Property which hosts the Little Nahanni Pegmatite Group (LNPG) lithiumcesium-tantalum (LCT) pegmatite dykes that have been traced for over 13km. The property is located in the North West Territories and is 37km northwest of the recently closed tungsten mine (Cantung). A gated road that extends northwest from Cantung passes within 5km of the LNPG property.
On Behalf of the Board of Directors of Lake Winn Resources Corp.
Patrick Power CEO and Director Lake Winn Resources Corp.
Telephone: (604) 218-8772 1111 Melville Street, 11th Floor Vancouver, British Columbia Canada V6E 3V6
Tel: (604) 689-1799 / Fax: (604) 689-8199
“Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.”
On Behalf of the Board of Directors of Lake Winn Resources Corp.
Patrick Power CEO and Director Lake Winn Resources Corp.
Telephone: (604) 218-8772
“Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.”
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