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Lake Winn Resources ( (TSE:LWR) ) just unveiled an update.
Lake Winn Resources Corp. has successfully closed the first tranche of its non-brokered private placement, raising C$291,000 through the sale of 5,290,909 units. The proceeds will be used for exploration costs related to the Little Nahanni project and general working capital. Each unit consists of one common share and one share purchase warrant, with the warrants exercisable at $0.08 for 24 months. The company also issued broker warrants and paid finders fees as part of the transaction. This move is expected to bolster Lake Winn’s financial position and support its exploration activities, potentially enhancing its market positioning in the mineral exploration industry.
More about Lake Winn Resources
Lake Winn Resources Corp. is a mineral exploration company focused on advancing the 100% owned Little Nahanni Pegmatite project located in the Northwest Territories near the Yukon Border. The project covers 9682.5 hectares and includes a major portion of a 13 km-long, and up to 500 m wide, lithium, cesium, and tantalum pegmatite dyke swarm with historic drilling and channel sampling confirming significant lithium, tantalum, cesium, and tin.
Average Trading Volume: 16,718
Technical Sentiment Signal: Strong Sell
Current Market Cap: C$524.8K
See more insights into LWR stock on TipRanks’ Stock Analysis page.