Lake Winn Resources Corp. has received conditional approval from the TSX Venture Exchange of its application to graduate from the NEX board of the exchange to Tier 2 of the exchange as a Tier 2 mining issuer.
The Reactivation is subject to certain conditions which the Company must meet, including completion of a private placement, first announced in a news release dated March 27, 2023 (the ” Concurrent Financing “). The Concurrent Financing will consist of up to 4,200,000 Units (the ” Units “) at a price of $0.06 per Unit for proceeds of up to $252,000. Each Unit will consist 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.
Closing of the Reactivation and the Concurrent Financing is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals.
About Lake Winn
Lake Winn Resources Corp. is a Vancouver based lithium and gold company based on exploration and development of lithium and gold projects in Canada. The Company’s flagship property, Li Property which hosts the Little Nahanni Pegmatite Group (LNPG) lithium-cesium-tantalum ( LCT ) pegmatite dykes that have been traced for over 13km with an exposed strike length and up to 500m width.
The company’s gold property, the Cloud Property is in the province of Manitoba, in the Flin Flon Gold Belt approximately 40 kilometers north-east 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 kilometres east of Flin Flon where there are historic high grade gold drill intercepts.
