Lake Winn Resources Corp. ( TSXV:LWR ) , ( Frankfurt:EEI ) , ( OTC:EQTXF ), (the ” Company ” or ” Lake Winn “), is pleased to announce that further to its news release dated September 16, 2020, the Company has received final approval of the TSX Venture Exchange (the ” TSXV “) in respect of the proposed acquisition of the Blueberry property (the ” Property “) from W.S. Ferreira Ltd. (the ” Vendor “) which is located near Blueberry Lake, Manitoba (the ” Transaction “).
The Property is being acquired in consideration of: (i) the issuance of 2,000,000 common shares of Lake Winn to the Vendor, (ii) a cash payment to the Vendor in the amount of $265,000 and (iii) the issuance to the Vendor of a net smelter royalty of 2% on production generated on the Property which may be purchased by Lake Winn for a total cash payment to the Vendor in the amount of $1,000,000.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
The Company has agreed to pay a certain eligible third party an aggregate cash finder’s fee in the amount of $47,625 in connection with the Transaction.
All securities issued in connection with the Transaction will be subject a statutory hold period of four months and one day from the date of issuance, in accordance with applicable securities legislation.
For further information contact :
Patrick Power
CEO and Director
Lake Winn Resources Corp.
Telephone: (604) 218-8772