Ms. Penny White reports
LANCASTER RESOURCES INCREASES OFFERING
Lancaster Resources Inc. is increasing the total amount of its offering of a non-brokered private placement that was previously announced on Jan. 19, 2024, from $200,000 to $400,000.
The proceeds from the private placement will be used for exploration at the Alkali Flat lithium brine project in New Mexico, marketing publicity, additional property acquisitions and exploration, renewable energy and DLE testing and development, salaries, consulting fees, travel expenses, and debt settlement.
Finders' fees of up to 8 per cent in cash and 8 per cent in warrants may be paid to finders in connection with the offering. All securities issued as part of the offering will be subject to a statutory hold period of four months and one day from the issuance date.
About Lancaster Resources Inc.
Lancaster (Canadian Securities Exchange: LCR, OTCQB: LANRF and Frankfurt Stock Exchange: 6UF0) is engaged in exploring and critical minerals to take advantage of the global shift toward decarbonization and electrification. Lancaster has rights to acquire 100 per cent of the Alkali Flat lithium project, near Lordsburg, N.M., United States, a set of claims approximately 5,200 acres (8.1 square miles) in size that Lancaster is exploring for concentrated subsurface lithium brine deposits. Lancaster's vision is to produce net-zero lithium using direct lithium extraction technology powered by solar or geothermal energy.
Lancaster owns the Catley Lake uranium project and the Centennial East uranium project, both in the Athabasca basin in Saskatchewan, Canada. Lancaster's project portfolio includes the Nelson Lake copper project in Saskatchewan, Canada, held through its subsidiary Nelson Lake Copper Corp. Lancaster also has rights to acquire the Trans-Taiga lithium property located within the James Bay lithium district of Quebec, and guiding Lancaster's journey is a skilled management and technical team with collective involvement in over 15 commercial mineral discoveries and endowed with extensive experience in the creation of lithium brine targets and the exploration and development of exploration projects across Canada, the American West, Mexico and South America.
We seek Safe Harbor.
© 2024 Canjex Publishing Ltd. All rights reserved.