Lake Winn Resources Corp. has launched a non-brokered private placement structured to raise aggregate gross proceeds of up to $180,000 through the issuance of up to 3,000,000 units.

Under the terms of the financing, each unit is priced at $0.06 and comprises one common share alongside one-half of one common share purchase warrant. Each whole warrant entitles the holder to acquire an additional common share at an exercise price of $0.10 for a duration of sixty months following the date of issuance. Net proceeds raised from the placement are earmarked to support general working capital requirements across the business.

The company may pay finder's fees to eligible arm's-length parties in connection with the offering, subject to compliance with the policies of the TSX Venture Exchange. Final completion of the financing remains conditional upon receiving all necessary regulatory acceptances, including formal approval from the exchange. All securities issued under the arrangement will be subject to a statutory hold period of four months and one day under applicable Canadian securities laws, and the offering may be closed in one or more tranches.

The capital raising effort runs alongside active operational planning for the business, anchored by the Little Nahanni Pegmatite Group project in the Northwest Territories. That 100%-owned property covers an expansive area of 9,682.5 hectares and encompasses a prominent 13-kilometre-long pegmatite dyke swarm.

Lake Winn previously detailed broader corporate plans for the asset, including a scheduled drill program for the project and a proposed corporate name change to Northern Critical Minerals Ltd. Shares of Lake Winn Resources Corp. are currently trading at $0.05, representing a decline of 9.09% during the trading session.

Read the full announcement: Lake Winn Announces Private Placement