Lincoln Gold Mining Inc. Announces Warrant Repricing and Extension
VANCOUVER, April 11, 2022 - Lincoln Gold Mining Inc. ("Lincoln" or the "Company") (TSXV:LMG) announces that, subject to the approval of the TSX Venture Exchange, Lincoln intends to proceed with a repricing and extension of certain outstanding common share (each, a "Share") purchase warrants (the "Warrants") of the Company. Warrant Repricing and Extension
The Company intends to reprice an aggregate of 10,881,038 Warrants and extend the expiry date of an aggregate of 4,512,372 Warrants as follows:
| Number of Warrants Outstanding | Issue Date | Original Exercise Price | Original Expiry Date | New Exercise Price | New Expiry |
| 1,342,190(1) | January 26, 2018 | $0.80(1) | April 26, 2022 | $0.08 | January 26, 2023 |
| 142,000(1) | February 20, 2018 | $0.80(1) | April 26, 2022 | $0.08 | February 20, 2023 |
| 600,000(1) | May 30, 2018 | $0.80(1) | April 26, 2022 | $0.08 | May 30, 2023 |
| 2,428,182 | August 13, 2020 | $0.15 | August 13, 2022 | $0.08 | June 4, 2023 |
| 2,768,666 | June 4, 2021 | $0.25 | June 4, 2023 | $0.08 | No Change |
| 3,600,000 | July 20, 2021 | $0.25 | July 20, 2024 | $0.08 | No Change |
Note:
- Figures adjusted pursuant to a 10:1 consolidation made effective on September 24, 2019.
In connection with the repricing and in addition to the extension of the Warrants listed above, the terms of the Warrants will be amended to include an accelerated expiry clause such that the exercise period of the Warrants will be reduced to 30 days if, for any ten consecutive trading days during the unexpired term of the Warrants, the closing price of the Shares exceeds the new exercise price of the Warrants by 25% or more. The 30-day expiry period will commence on the day that the Company disseminates a press release announcing the accelerated expiry period.
About Lincoln
Lincoln Gold Mining Inc. is an advanced-stage gold mine exploration and development company holding a 100% interest in the Pine Grove Gold Project, in the Walker Lane structural zone of western Nevada. The Company has prepared a preliminary economic assessment of the Pine Grove Gold Project pursuant to National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Lincoln is working with the U.S. Forest Service to secure the permits necessary to develop the Pine Grove Gold Project into a low-cost heap leach operation with a high-grade gravity circuit.
Lincoln also owns an interest in a joint venture in respect of the Oro Cruz Gold Property in California. Lincoln's joint venture partner is advancing the Oro Cruz Gold Property towards further exploration, development and production.
Lincoln is developing exploration plans for the Shawinigan Property in Quebec to evaluate the copper, nickel and cobalt opportunities at the project.
Lincoln holds its interests in the US projects through its wholly owned subsidiaries, Lincoln Resource Group Corp. and Lincoln Gold US Corporation, both Nevada corporations.
For more information, please contact Paul Saxton, President and CEO of the Company.
On behalf of Lincoln Gold Mining Inc.
Paul Saxton
President and CEO, Lincoln Gold Mining Inc.
Tel: (604) 688-7377
Email: saxton@lincolnmining.com
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
Neither 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.
All statements, trend analysis and other information contained in this press release relative to markets about anticipated future events or results constitute forward-looking statements. All statements, other than statements of historical fact, included herein, including, without limitation, statements relating to the extension and repricing of the Warrants are forward-looking statements. Forward- looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements. Important factors that could cause actual results to differ materially from Lincoln's expectations include unanticipated delays in obtaining or failure to obtain regulatory or stock exchange approvals for the extension and repricing of the Warrants and delays in obtaining or failure to obtain warrant holder consent for the repricing of the Warrants. Forward-looking statements are based on estimates and opinions of management at the date the statements are made. Lincoln does not undertake any obligation to update forward-looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements.
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
SOURCE: Lincoln Gold Mining Inc.
