Lincoln Gold Announces Convertible Debenture Financing
Lincoln Gold Mining (TSXV:LMG) has announced a non-brokered private placement of convertible debenture units to raise up to C$150,000. Each Note Unit includes an unsecured convertible debenture and warrants exercisable at C$0.35 for 24 months. The debentures have an 18% annual interest rate and are convertible into common shares at C$0.15 per share.
The proceeds will fund general working capital and development of the Bell Mountain Project, which Lincoln plans to acquire from Eros Resources Corp. The company aims to complete the acquisition concurrent with or shortly after the private placement closing, subject to TSXV approval. All securities issued will have a four-month hold period.
Lincoln Gold Mining (TSXV:LMG) ha annunciato un collocamento privato non mediato di unità di obbligazioni convertibili per raccogliere fino a C$150.000. Ogni unità di nota include un'obbligazione convertibile non garantita e warrant esercitabili a C$0,35 per 24 mesi. Le obbligazioni hanno un tasso di interesse annuale del 18% e sono convertibili in azioni ordinarie a C$0,15 per azione.
Il ricavato finanzierà il capitale di esercizio generale e lo sviluppo del Bell Mountain Project, che Lincoln prevede di acquisire da Eros Resources Corp. L'azienda mira a completare l'acquisizione in concomitanza con o poco dopo la chiusura del collocamento privato, soggetto all'approvazione di TSXV. Tutti i titoli emessi avranno un periodo di blocco di quattro mesi.
Lincoln Gold Mining (TSXV:LMG) ha anunciado una colocación privada no mediada de unidades de bonos convertibles para recaudar hasta C$150,000. Cada unidad de bono incluye un bono convertible no garantizado y garantías ejercitables a C$0.35 durante 24 meses. Los bonos tienen una tasa de interés anual del 18% y son convertibles en acciones ordinarias a C$0.15 por acción.
Los ingresos financiarán el capital de trabajo general y el desarrollo del Bell Mountain Project, que Lincoln planea adquirir de Eros Resources Corp. La empresa tiene como objetivo completar la adquisición simultáneamente o poco después del cierre de la colocación privada, sujeto a la aprobación de TSXV. Todos los valores emitidos tendrán un período de bloqueo de cuatro meses.
링컨 골드 마이닝 (TSXV:LMG)는 최대 C$150,000를 모으기 위해 전환 가능한 채권 단위의 비중개 사모 발행을 발표했습니다. 각 채권 단위는 무담보 전환 사채와 24개월 동안 C$0.35에 행사할 수 있는 워런트를 포함합니다. 사채는 연 18%의 이자율을 가지며, C$0.15에 보통주로 전환될 수 있습니다.
모금된 자금은 일반 운영 자본과 벨 마운틴 프로젝트 개발에 사용될 예정이며, 링컨은 이를 Eros Resources Corp.로부터 인수할 계획입니다. 회사는 TSXV 승인에 따라 사모 발행 종료와 동시에 또는 곧이어 인수를 완료하는 것을 목표로 하고 있습니다. 발행된 모든 증권은 4개월의 보유 기간이 있습니다.
Lincoln Gold Mining (TSXV:LMG) a annoncé un placement privé non intermédié d'unités d'obligations convertibles pour lever jusqu'à C$150.000. Chaque unité de Note comprend une obligation convertible non garantie et des bons de souscription exerçables à C$0,35 pendant 24 mois. Les obligations offrent un taux d'intérêt annuel de 18 % et sont convertibles en actions ordinaires à C$0,15 par action.
Les recettes serviront à financer le fonds de roulement général et le développement du Bell Mountain Project, que Lincoln prévoit d'acquérir auprès d'Eros Resources Corp. L'entreprise vise à finaliser l'acquisition en même temps ou peu après la clôture du placement privé, sous réserve de l'approbation de la TSXV. Tous les titres émis seront soumis à une période de blocage de quatre mois.
Lincoln Gold Mining (TSXV:LMG) hat eine nicht vermittelte Privatplatzierung von wandelbaren Schuldverschreibungs-Einheiten angekündigt, um bis zu C$150.000 zu sammeln. Jede Schuldverschreibungs-Einheit umfasst eine ungesicherte wandelbare Schuldverschreibung und Optionen, die innerhalb von 24 Monaten zu C$0,35 ausgeübt werden können. Die Schuldverschreibungen haben einen Zinssatz von 18 % pro Jahr und sind zu C$0,15 pro Aktie in Stammaktien umwandelbar.
Die Erlöse werden das allgemeine Betriebskapital und die Entwicklung des Bell Mountain Project finanzieren, das Lincoln von Eros Resources Corp. erwerben möchte. Das Unternehmen beabsichtigt, die Übernahme gleichzeitig oder kurz nach dem Abschluss der Privatplatzierung abzuschließen, vorbehaltlich der Genehmigung durch die TSXV. Alle ausgegebenen Wertpapiere unterliegen einer Haltefrist von vier Monaten.
- Raising up to C$150,000 in new capital
- Advancing towards acquisition of Bell Mountain Project
- Warrants provide additional funding potential at C$0.35 exercise price
- High interest rate of 18% on convertible debentures
- Potential dilution from conversion of debentures at C$0.15 per share
- Small financing amount indicates capital access
VANCOUVER, BC / ACCESSWIRE / December 13, 2024 / Lincoln Gold Mining Inc. ("Lincoln") (TSXV:LMG) is pleased to announce that it intends to complete a non-brokered private placement (the "Private Placement") of convertible debenture units (the "Note Units") for gross proceeds of up to C
The Company intends to use the proceeds from the Private Placement for general working capital and corporate purposes and on exploration and development of the Bell Mountain Project upon completing the acquisition of the Bell Mountain Project from Eros Resources Corp. (the "Acquisition"). The Company intends to complete the Acquisition concurrently with closing the Private Placement or shortly thereafter. Closing of the Acquisition is subject to TSXV (as defined below) approval.
Paul Saxton, President and CEO of Lincoln Gold Mining Inc., stated, "This funding will be instrumental in advancing the Bell Mountain project, which will be Lincoln's flagship project upon completing its acquisition from Eros. While we are working to complete the final steps with the TSXV to close the Bell Mountain acquisition, we remain focused on driving the Bell Mountain project into production."
The Notes will have a maturity date (the "Maturity Date") of 24 months from the date of issuance, unless previously converted in accordance with the terms of the Notes. From and after the date of issue of the Notes until the Maturity Date, any principal amount (the "Principal") may be converted, at the option of the Note holder, into Common Shares at a conversion price of C
Within 10 days of the Maturity Date, the Note holder may elect, at its sole option, to have the then outstanding Principal repaid in cash or converted into Common Shares, in accordance with the terms of the Note and by providing the Company with written notice of such election.
Closing of the Private Placement is subject to all necessary regulatory and stock exchange approvals and execution of final documentation. All securities issued in connection with the Private Placement will be subject to a four-month hold period from the date of issue under applicable Canadian securities laws, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside Canada.
For comprehensive details on the Acquisition, please refer to Lincoln's news releases dated August 10, 2023, October 27, 2023, November 6, 2023, January 5, 2024, March 15, 2024, May 14, 2024 and August 14, 2024, available on SEDAR+ at www.sedarplus.ca, or www.lincolnmining.com.
About Lincoln
Lincoln Gold Mining Inc. is an advanced-stage gold mine exploration and development company holding a
For further information, please contact:
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 policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Information
This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". This information and these statements, referred to herein as "forward‐looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions with respect to, among other things: the securities offered under the Private Placement, the Company's intention to complete the Acquisition and the use of proceeds from the Private Placement.
These forward‐looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things: delays in obtaining or failure to obtain required regulatory approvals for the Private Placement and the Acquisition, market uncertainty and the inability of the Company to raise the anticipated proceeds under the Private Placement or complete the Acquisition.
In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that the Company will complete the Acquisition and Private Placement and use the proceeds of the Private Placement as currently anticipated.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.
SOURCE: Lincoln Gold Mining Inc.
View the original press release on accesswire.com
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