Lake Winn Resources Corp. Announces Conditional Approval of NEX Reactivation
Vancouver, March 30, 2023 - Lake Winn Resources Corp. (TSXV:LWR.H), (OTC:EQTXF) (the "Company") is pleased to announce that it has received conditional approval from the TSX Venture Exchange (the "Exchange") of its application to graduate from the NEX board of the Exchange to Tier 2 of the Exchange as a Tier 2 Mining Issuer (the "Reactivation"). The Reactivation is subject to certain conditions which the Company must meet, including completion of a private placement, first announced in a news release dated March 27, 2023 (the "Concurrent Financing"). The Concurrent Financing will consist of up to 4,200,000 Units (the "Units") at a price of $0.06 per Unit for proceeds of up to $252,000. Each Unit will consist of one common share in the capital of the Company (a "Share") and one common share purchase warrant (a "Warrant"). Each Warrant entitles the holder thereof to purchase one additional Share at a price of $0.09 per Share for a period of 12 months from the date of issuance.
Closing of the Reactivation and the Concurrent Financing is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals.
About Lake Winn
Lake Winn Resources Corp. is a Vancouver based lithium and gold company based on exploration and development of lithium and gold projects in Canada. The Company's flagship property, Li Property which hosts the Little Nahanni Pegmatite Group (LNPG) lithium-cesium-tantalum (LCT) pegmatite dykes that have been traced for over 13km with an exposed strike length and up to 500m width.
The company's gold property, the Cloud Property is in the province of Manitoba, in the Flin Flon Gold Belt approximately 40 kilometers north?east of the town of Flin?Flon. Access to the property is provided by Manitoba highway 10 to the all?weather Kississing Lake Road. The company also has the Quartz Property 76 kilometres east of Flin Flon where there are historic high grade gold drill intercepts.
On Behalf of the Board of Directors of Lake Winn Resources Corp.
Patrick Power
CEO and Director
Telephone: (604) 218-8772
"Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release."
Forward-looking Statements: Certain statements in this press release are "forward-looking statements" which reflect the Company's current expectations and projections about future events and financial trends that it believes might affect its financial condition, results of operations, business strategy and financial needs. In some cases, these forward-looking statements can be identified by words or phrases such as "may", "might", "will", "expect", "anticipate", "estimate", "intend", "plan", "indicate", "seek", "believe", "estimates", "predicts" or "likely", or the negative of these terms, or other similar expressions intended to identify forward-looking statements. Whether actual results, performance or achievements will conform to the Company's expectations and predictions is subject to a number of known and unknown risks, uncertainties, assumptions and other factors, including without limitation, those risks and uncertainties discussed elsewhere on the website at www.prosmartinc.com and in the Company's filings on SEDAR. Investors should not place undue reliance on forward-looking information. The forward-looking information contained herein is made as of the date hereof and is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.