Lincoln Mining Closes $71,000 in Second and Final Tranche of Over-Subscribed Private Placement
Vancouver, British Columbia (FSCwire) - Lincoln Mining Corp., TSX-V: LMG (“Lincoln” or the Company”) is pleased to announce that it has closed the second and final tranche of its previously announced non-brokered private placement (see news release January 9, 2018), which was over-subscribed.
Lincoln issued 1,420,000 units under the second and final tranche, for a total of 14,841,904 units issued under the private placement at a price of $0.05 per unit (“Units”) for gross proceeds of $742,095.20. Each Unit is comprised of one common share of the Company and one non-transferable common share purchase warrant (a “Warrant”). Each Warrant entitles the holder to acquire one additional common share of the Company at an exercise price of $0.08 per share until April 26, 2022.
Lincoln intends to use the proceeds raised from the private placement for permitting on the Pine Grove project and for general working capital purposes.
All securities issued or issuable under the second tranche of the private placement will be subject to a four month hold period in Canada expiring on June 21, 2018, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside of Canada.
Lincoln Mining Corp. is a Canadian precious metals exploration and development company with two projects in various stages of exploration and development, namely the Pine Grove gold property in Nevada and the Oro Cruz gold property in California. In the United States, the Company operates under Lincoln Gold US Corp. and Lincoln Resource Group Corp., both Nevada corporations.
For further information, please contact Investor Relations at 604-688-7377 or visit the Company’s website at www.lincolnmining.com.
On behalf of Lincoln Mining Corporation
"Paul Saxton"
Paul Saxton, President & CEO
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.
THIS PRESS RELEASE INCLUDES FORWARD-LOOKING STATEMENTS OR INFORMATION. ALL STATEMENTS OTHER THAN STATEMENTS OF HISTORICAL FACT INCLUDED IN THIS RELEASE, INCLUDING WITHOUT LIMITATION, STATEMENTS REGARDING THE USE OF THE PROCEEDS FROM THE PRIVATE PLACEMENT, ARE FORWARD-LOOKING STATEMENTS THAT INVOLVE VARIOUS RISKS AND UNCERTAINTIES. THERE CAN BE NO ASSURANCE THAT SUCH STATEMENTS WILL PROVE TO BE ACCURATE AND ACTUAL RESULTS AND FUTURE EVENTS COULD DIFFER MATERIALLY FROM THOSE ANTICIPATED IN SUCH STATEMENTS. IMPORTANT FACTORS THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THE COMPANY'S PLANS OR EXPECTATIONS INCLUDE AVAILABILITY OF CAPITAL AND FINANCING TO MAINTAIN THE COMPANY’S PROJECTS; CHANGES IN PLANNED WORK OR USE OF PROCEEDS RESULTING FROM LOGISTICAL, TECHNICAL OR OTHER FACTORS; GENERAL ECONOMIC, MARKET OR BUSINESS CONDITIONS; FLUCTUATING METAL PRICES; THE POSSIBILITY OF COST OVERRUNS OR UNANTICIPATED EXPENSES IN WORK PROGRAMS; REGULATORY CHANGES; TIMELINESS OF GOVERNMENT OR REGULATORY APPROVALS AND OTHER RISKS DETAILED HEREIN AND FROM TIME TO TIME IN THE FILINGS MADE BY THE COMPANY. THE COMPANY MAKES ALL REASONABLE EFFORTS TO UPDATE ITS CORPORATE MATERIAL, DOCUMENTATION AND FORWARD-LOOKING INFORMATION ON A TIMELY BASIS.
To view the associated document to this release, please click on the following link:
public://news_release_pdf/LincolnMining02202018.pdf
To view the original release, please click here
Source: Lincoln Mining Corp. (TSX Venture:LMG, OTC Pink:LNCLF, FWB:ZMG1)
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