Lakewood Exploration Raises $300,000 IN Initial Public Offering and Lists ON the Canadian Securities Exchange
Lakewood Exploration Inc.
200 - 551 Howe Street
Vancouver, British Columbia
V6C 2C2
NEWS RELEASE
LAKEWOOD EXPLORATION RAISES $300,000 IN INITIAL PUBLIC OFFERING AND
LISTS ON THE CANADIAN SECURITIES EXCHANGE
VANCOUVER, APRIL 30, 2021 – Lakewood Exploration Inc. (CSE:LWD) Lakewood Exploration Inc. (the “Company”) is pleased to announce that it has completed its initial public offering of common shares through its agent, Canaccord Genuity Corp. (the “Agent”). The offering of 3,000,000 common shares (the “Offering”) was fully subscribed for gross proceeds of $300,000. In consideration for the Agent’s services provided in connection with the Offering, the Company paid a cash commission and a corporate finance fee. The Company also issued the Agent and a member of its selling group an aggregate of 240,000 non-transferable and non-assignable warrants to purchase common shares of the Company (the “Agent’s Warrants”). Each Agent’s Warrant is exercisable to purchase one common share for a price of $0.10 per common share until April 30, 2023.
The Company’s common shares were listed on the Canadian Securities Exchange on April 29, 2021 and are expected to begin trading under the symbol “LWD” on May 3, 2021.
The Company has also commenced the work program set out in its technical report regarding the Lacy Property dated April 30, 2018 and the final prospectus dated March 11, 2021. The technical report and final prospectus are filed on the Company’s SEDAR profile at www.sedar.com.
FOR FURTHER INFORMATION PLEASE CONTACT:
Michael Dake, Chief Executive Officer and Corporate Secretary, at 200 - 551 Howe Street
Vancouver, British Columbia V6C 2C2, email: [email protected]
Certain statements in this release are forward-looking statements within the meaning of Canadian securities laws, including but not limited to, statements relating to the trading date of the Company’s common shares on the Canadian Securities Exchange and the use of proceeds from the Offering. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them.