Lake Winn Resources Corp. announced a non-brokered private placement of up to 4,200,000 units at an issue price of CAD 0.06 per unit for aggregate gross proceeds of CAD 252,000 on January 9, 2023. The transaction may include participation from certain members of the company's board and management.

Each unit consists of one common share in the capital of the company and one common share purchase warrant. Each warrant entitles the holder thereof to purchase one additional share at a price of CAD 0.09 per share for a period of 12 months from the date of issuance. The company may pay a finder's fee on the offering within the amount permitted by the policies of the exchange.

Closing of the offering is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including the 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 offering is not subject to a minimum aggregate amount of subscriptions.