Lake Winn Announces Proposed Share Consolidation
LAKE WINN ANNOUNCES PROPOSED SHARE CONSOLIDATION
Vancouver, British Columbia – October 11, 2024 – Lake Winn Resources Corp. (TSXV: LWR, FSE: EE1A )
(the “ Company”) announces that it intends to consolidate the common shares in the capital of the
Company (the “ Common Shares”) on the basis of ten (10) pre -consolidation Common Shares for every
one (1) post-consolidation Common Share (the “Consolidation”).
The Company currently has 75,243,306 Common Shares issued and outstanding, and following the
Consolidation, the Company will have approximately 7,524,331 Common Shares issued and outstanding,
prior to rounding for fractional shares.
The Consolidation was approved by the board of directors of the Company (the “ Board”) on October 7,
2024 in accordance with the Articles of the Company, but remains subject to the approval of the TSX
Venture Exchange (the “ Exchange”). The Company will issue a further news release upon receiving
Exchange approval, announcing the effective date of the Consolidation. The Company will not be changing
its name in conjunction with the Consolidation.
Management and the Board is requesting the Consolidation as the current share structure does not allow
the Company to raise sufficient funds to keep it operating as a going concern. The proposed Consolidation
will allow the Company to attract new capital and enable the Company to fully meet its ongoing business
objectives.
About Lake Winn
Lake Winn Resources Corp. is a mineral exploration company focused on advancing the 100% owned Little
Nahanni Pegmatite project located in the Northwest Territories near the Yukon Border. The project covers
9682.5 hectares that includes a major portion of a 13 km-long, and up to 500 m wide, lithium, cesium, and
tantalum pegmatite dyke swarm. The project has had historic drilling and channel sampling that confirm
significant lithium, tantalum, cesium, and tin.
ON BEHALF OF THE BOARD OF DIRECTORS OF LAKE WINN RESOURCES CORP.
Patrick Power
President, CEO & Director
Lake Winn Resources Corp.
Telephone: (604) 218-8772
www.lakewinn.ca
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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.
Forward-looking Statements: Certain statements in this news 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 iden tified 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, the completion
of the Consolidation and the receipt of approval for the Consolidation by the Exchange. Investors should
not place undue rel iance on forward -looking information. Important factors that could cause actual
results to differ materially from the Company’s expectations include actual exploration results, results of
future resource estimates, future metal prices, availability of capital and financing on acceptable terms,
general economic, market or business conditions, uninsured risks, regulatory changes, defects in title,
availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns,
delays in receiving government approvals, unanticipated environmental impacts on operations and costs
to remedy same, and other exploration or other risks detailed herein and from time to time in the filings
made by the Company with securities regulators. 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.