Lake Winn Resources Corp (C:LWR)
Shares Issued 75,243,306
Last Close 10/11/2024 $0.025
Friday October 11 2024 - News Release

Mr. Patrick Power reports

LAKE WINN ANNOUNCES PROPOSED SHARE CONSOLIDATION

Lake Winn Resources Corp. intends to consolidate the common shares in the capital of the company on the basis of one postconsolidation common share for every 10 preconsolidation common shares.

The company currently has 75,243,306 common shares issued and outstanding, and following the consolidation, the company will have approximately 7,524,331 common shares issued and outstanding, prior to rounding for fractional shares.

The consolidation was approved by the board of directors of the company on Oct. 7, 2024, in accordance with the articles of the company, but remains subject to the approval of the TSX Venture Exchange. The company will issue a further news release upon receiving exchange approval announcing the effective date of the consolidation. The company will not be changing its name in conjunction with the consolidation.

Management and the board are requesting the consolidation as the current share structure does not allow the company to raise sufficient funds to keep it operating as a going concern. The proposed consolidation will allow the company to attract new capital and enable the company to fully meet its continuing business objectives.

About Lake Winn Resources Corp.

Lake Winn is a mineral exploration company focused on advancing the 100-per-cent-owned Little Nahanni pegmatite project, located in the Northwest Territories near the Yukon border. The project covers 9,682.5 hectares that include a major portion of a 13-kilometre-long and up-to-500-metre-wide lithium/cesium/tantalum pegmatite dike swarm. The project has had historic drilling and channel sampling that confirm significant lithium, tantalum, cesium and tin.

We seek Safe Harbor.

© 2024 Canjex Publishing Ltd.