Lake Winn Resources Corp. announced a non-brokered private placement of up to 20,000,000 non-flow through units at a price of CAD 0.05 per unit for gross proceeds of up to CAD 1,000,000 on October 27, 2022. Certain members of the company's board and management may participate in the transaction.

Each unit consists of one common share of the company and one share purchase warrant entitling the holder to purchase one share at CAD 0.12 for a period of 12 months from the date of issuance. The company may pay a finder's fee in the transaction within the amount permitted by the policies of the NEX Board of the TSX Venture Exchange. Closing of the transaction is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including the Exchange.

All securities issued in connection with the transaction will be subject to a statutory hold period of four months plus a day from the date of issuance.