Mr. Patrick Power reports
LAKE WINN ANNOUNCES PRIVATE PLACEMENT
Lake Winn Resources Corp. is conducting a non-brokered private placement of up to 7,272,727 units at a price of 5.5 cents per unit, for gross proceeds of up to $400,000.
Each unit will consist of one common share in the capital of the company and one share purchase warrant. Each warrant will be exercisable to purchase an additional share at an exercise price of eight cents per warrant share for a period of 24 months after the date of issuance.
The company intends to use the net proceeds from the offering for exploration expenditures related to the company's Little Nahanni project, as well as general working capital and administrative expenses.
Closing is subject to a number of prescribed conditions, including, without limitation, approval of the TSX Venture Exchange. The securities to be issued under the offering will be offered by way of private placement to purchasers in the provinces of British Columbia, Alberta, and Ontario, and such other provinces or territories of Canada as may be determined by the company, in each case, pursuant to applicable exemptions from the prospectus requirements under applicable securities laws. Securities issued under the offering will be subject to a four-month hold period, which will expire four months and one day from the date of closing of the offering.
The company may pay finders' fees on the offering in accordance with the policies of the TSX Venture Exchange.
About Lake Winn Resources Corp.
Lake Winn is a mineral exploration company focused on advancing the 100-per-cent-owned Little Nahanni pegmatite project, located in the Northwest Territories, near the Yukon border. The project covers 9,682.5 hectares, including a major portion of a 13-kilometre-long, up-to-500-m-wide, lithium, cesium and tantalum pegmatite dike swarm. The project has had historical drilling and channel sampling that confirm significant lithium, tantalum, cesium and tin.
We seek Safe Harbor.
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