Lake Winn Resources arranges $400,000 private placement

Executive Summary

• Lake Winn Resources Corp. announced a non‑brokered private placement of up to 7,272,727 units at C$0.055 per unit, targeting gross proceeds of up to $400,000.
• Each unit consists of one common share and one warrant exercisable at C$0.08 per share for 24 months after issuance.
• Net proceeds are earmarked for exploration work on the Little Nahanni project and for general working capital and administrative expenses.

Key Details

• Units Offered: Up to 7,272,727 units.
• Price per Unit: C$0.055 (5.5 cents).
• Gross Proceeds Target: Up to $400,000.
• Unit Composition: 1 common share + 1 share purchase warrant.
• Warrant Terms: Exercise price C$0.08 per share; exercisable for 24 months from issuance date.
• Use of Proceeds: Exploration expenditures on the Little Nahanni pegmatite project; general working capital and administrative expenses.
• Closing Conditions: Subject to TSX Venture Exchange approval and other prescribed conditions.
• Placement Scope: Private placement to purchasers in British Columbia, Alberta, Ontario, and potentially other Canadian provinces/territories under prospectus exemptions.
• Hold Period: Securities subject to a four‑month hold period, expiring four months and one day after closing.
• Finder’s Fees: Company may pay finder’s fees per TSX Venture Exchange policies.

Notable Quotes

(No executive quotes were provided in the release.)