Lancaster Resources Inc. announced a non-brokered private placement of non flow-through units at a price of CAD 0.03 per unit and flow-through units at a price of CAD 0.05 per FT unit on June 24, 2024. Each FT unit consists of one flow-through common share and one share purchase warrant, with each whole warrant entitling the holder to purchase one non-flow-through common share for a period of 3 years at a price of CAD 0.10. The company may pay finders fees up to 8% cash and 8% non-transferable finder warrants in connection with the issuance of FT units.

Each finder warrant is exercisable to purchase one common share for a period of 3 years at a price of CAD 0.05. Each non flow-through unit consists of one non-flow-through common share and one share purchase warrant, with each whole warrant entitling the holder to purchase one non-flow-through common share for a period of 3 years at a price of CAD 0.06. The company may pay finders fees up to 8% cash and 8% non-transferable finder warrants in connection with the issuance of non-flow-through Units.

Each finder warrant is exercisable to purchase one common share for a period of 3 years at a price of CAD 0.03. All securities issued and sold under the offering will be subject to a four-month and one-day hold period.