Deal funds Bell Mountain property purchase, permitting for properties
By Devika Patel
Knoxville, Tenn., Sept. 15 – Lincoln Mining Corp. said it plans a C$3.5 million non-brokered private placement of units.
The company will sell 17.5 million units of one common share and one warrant at C$0.20 per unit. Each whole warrant is exercisable for three years at C$0.25 in the first year and at C$0.35 in the second and third year. The strike prices are 38.89% and 94.44% premiums to the Sept. 12 closing share price of C$0.18.
Proceeds will be used to complete the purchase of the Bell Mountain property, to advance permitting for the Nevada properties and for general working capital purposes.
The company also said it has negotiated an agreement with Golden Dreams LP in which Lincoln Mining has agreed to issue 6.86 million shares at a deemed price of C$0.15 per share for C$1.03 million of debt.
Based in Vancouver, B.C., Lincoln is a gold and silver exploration and development company.
| Issuer: | Lincoln Mining Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$3.5 million
|
| Units: | 17.5 million
|
| Price: | C$0.20
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | C$0.25 in the first year, C$0.35 in the second and third years
|
| Agent: | Non-brokered
|
| Pricing date: | Sept. 15
|
| Stock symbol: | TSX Venture: LMG
|
| Stock price: | C$0.18 at close Sept. 12
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
