Lake Winn Resources Corp (C:LWR)
Shares Issued 75,243,306
Last Close 9/17/2024 $0.03
Wednesday September 18 2024 - News Release

Mr. Patrick Power reports

LAKE WINN PROVIDES UPDATE WITH RESPECT TO ITS PRIVATE PLACEMENT

Further to the news release dated Aug. 23, 2024, Lake Winn Resources Corp. is closing its non-brokered private placement of units of the company. Each unit was offered at a price of five cents per unit for gross proceeds of $244,000. Each unit consisted of one common share in the capital of the company and one share purchase warrant. Each warrant is 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 closed tranche one of the offering on June 14, 2024 (3.68 million units for gross proceeds of $184,000), and tranche two of the offering closed on July 30, 2024 (1.2 million units for gross proceeds of $60,000). The company is not proceeding with a third tranche.

All securities issued in connection with the offering are subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities laws. The company used the full amount of the proceeds raised from the offering to pay outstanding accounts payable.

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 that include a major portion of a 13-kilometre-long and up-to-500-metre-wide lithium, cesium and tantalum pegmatite dike swarm. The project has had historic drilling and channel sampling that confirm significant lithium, tantalum, cesium and tin.