Lake Winn Resources Corp. announced a non-brokered private placement of 16,666,667 units at an issue price of CAD 0.06 per unit for the gross proceeds of CAD 1,000,000 and up to 29,166,667 flow through common shares at an issue price of CAD 0.12 per flow through share for the gross proceeds of up to CAD 3,500,000, for the aggregate gross proceeds of CAD 4,500,000 on July 31, 2023. Each Unit will consist of one non-flow-through common share and a Share purchase warrant.

Each Warrant will entitle the holder to purchase one additional non-flow-through common share at a price of CAD 0.10 per warrant share for a period of 24 months from the closing of the Offering. Closing of the Offering is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including the TSX Venture Exchange. All securities issued in connection with the Offering will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.

The Company may pay a finder?s fee on the Offering within the amount permitted by the policies of the TSX Venture Exchange.