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Lincoln To Settle Debt

03.05.2023  |  Accesswire

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

VANCOUVER, May 3, 2023 - Lincoln Gold Mining Inc. ("Lincoln" or the "Company") (TSXV:LMG) announces that, subject to regulatory approval, it intends to settle up to $3,007,290 of debt through debt settlement agreements, by issuing $0.17 units (the "Debt Units") of the Company, each Debt Unit being comprised of one common share of the Company and one common share purchase warrant (the "Debt Unit Warrants"), with each Debt Unit Warrant being exercisable for an additional common share of the Company at $0.35 for 36 months.

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 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

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.

Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statements relating to the effective date of the Consolidation, the number of common shares outstanding following the Consolidation, the treatment of fractional shares in the Consolidation, measures to be taken by shareholders with regard to post-consolidated common shares and other statements relating to the Consolidation that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this release are forward-looking statements that involve 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 expectations include those relating to the Company's ability to complete the Consolidation, the Company not being able to obtain the Exchange's final confirmation of the Consolidation, the number of post-Consolidation common shares being different from the number set out herein and the treatment of fractional shares in the Consolidation being different from what is set out herein and other risks detailed from time to time in the filings made by the Company with securities regulators.

The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including, without limitation, the Company not being able to obtain the Exchange's final confirmation of the Consolidation. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will not update or revise publicly any of the included forward-looking statements unless as expressly required by applicable law.

SOURCE: Lincoln Gold Mining Inc.



View source version on accesswire.com:
https://www.accesswire.com/752616/Lincoln-To-Settle-Debt


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