Lake Winn Announces Closing of Private Placement
LAKE WINN ANNOUNCES CLOSING OF PRIVATE PLACEMENT
February 1st, 2023 – Vancouver, British Columbia – Lake Winn Resources Corp.
(“Lake Winn” or the “Company”) (NEX: LWR.H) (FSE: EEI) (OTC: EQTXF) – Lake Winn
Resources Corp. is pleased to announce that, further to its news release dated January
9, 2022, 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 4,798,336 Units for aggregate gross proceeds of $287,900.
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.
Proceeds will be used for contractual payments pursuant to the Company’s purchase of
the Blueberry property near Blueberry Lake, Manitoba, as first set out in the Company’s
news release dated September 16, 2020. The Company received final approval from the
Exchange for the Blueberry Lake property acquisition on November 27, 2020. The
Company will also use part of the proceeds for general corporate working capital.
About Lake Winn
Lake Winn Resources Corp. is a Vancouver based lithium and gold company, listed on
the NEX Board of the TSX Venture Exchange (Symbol: LWR.H) focusing on the
exploration and development of lithium and gold projects in Canada. The Company’s Li
Property which hosts the Little Nahanni Pegmatite Group (LNPG) lithium-cesium-
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.
The company’s Cloud Project is in the province of Manitoba, in the Flin Flon Gold Belt
approximately 40 kilometers northeast of the town of Flin ‐Flon. Access to the property is
provided by Manitoba highway 10 to the all‐weather Kississing Lake Road. The company
also has the Quartz property 76 kilometers east of Flin Flon where there are historic high
grade gold drill intercepts.
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.”
Forward-looking Statements: Certain statements in this press release are "forward -
looking statements" which reflect the Company's current expectations and projections
about future events and financial trends that it believes might affect its financial condition,
results of operations, business strategy and financial needs. In some cases, these
forward-looking statements can be identified by words or phrases such as "may", "might",
"will", "expect", "anticipate", "estimate", "intend", "plan", "indicate", "seek", "believe",
"estimates", "predicts" or "likely", or the negative of these terms, or other similar
expressions intended to identify forward -looking statements. Whether actual results ,
performance or achievements will conform to the Company's expectations and
predictions is subject to a number of known and unknown risks, uncertainties,
assumptions and other factors, including without limitation, those risks and uncertainties
discussed elsewhere on the website at www.prosmartinc.com and in the Company's
filings on SEDAR. Investors should not place undue reliance on forward -looking
information. The forward -looking information contained herein is made as of the date
hereof and is not obligated to update or revise any forward -looking information, whether
as a result of new information, future events or otherwise, except as required by
applicable securities laws.