Lexston Mining arranges $500,000 private placement

Executive Summary

• Lexston Mining Corp. has arranged a non-brokered private placement to raise up to $500,000 in gross proceeds.
• The company will issue up to 6.25 million units at a price of $0.08 per unit, with each unit comprising one common share and one common share purchase warrant.
• Proceeds are designated for general working capital and exploration expenditures, with potential participation from directors and officers.

Key Details

• Gross Proceeds: Up to $500,000.
• Instrument: Non-brokered private placement units.
• Quantity: Up to 6.25 million units.
• Price: $0.08 per unit.
• Unit Composition: Each unit consists of one common share and one common share purchase warrant.
• Warrant Terms: Each warrant entitles the holder to purchase one common share at an exercise price of $0.10.
• Warrant Expiration: Five years from the date of issuance.
• Use of Proceeds: General working capital purposes and exploration expenditures.
• Insider Participation: Certain directors and officers of the company may participate in the private placement.
• Regulatory Status: Securities are subject to filing requirements with and acceptance by the Canadian Securities Exchange.
• Hold Period: All securities are subject to a four-month statutory hold period after closing.

Notable Quotes

• None provided in the text.