Lake Winn Resources (TSX-V:LWR) has arranged a non-brokered private placement to raise up to C$180,000 ($180,776) for general working capital.
The company plans to issue up to 3 million units at C$0.06 each. Every unit comprises one common share and half a common share purchase warrant. Each full warrant is exercisable at C$0.10 for five years from its date of issue.
Lake Winn may pay finders’ fees to eligible arm’s-length parties within the limits of TSX Venture Exchange policies.
The placement may close in one or more tranches and remains subject to regulatory approvals, including acceptance by the exchange. Securities issued under the placement will carry a four-month-and-one-day statutory hold period.
Although the proceeds are earmarked for general working capital, the raise follows a broader corporate reset announced in June.
Meanwhile, Lake Winn has proposed changing its name to Northern Critical Minerals to reflect its focus on the wholly owned Little Nahanni Pegmatite Group Project near the Northwest Territories–Yukon border in Canada.
The company says it plans to test the 7km-long Alpha Prime target, which it describes as a priority pegmatite target prospective for lithium, tantalum, and tin. Drill permits are in place, with exploration previously scheduled to begin in H2 2026.
Lake Winn has also entered a definitive option agreement to acquire the Silver Switchback Copper-Silver Project in British Columbia.
Lake Winn Resources is a Canadian explorer focused on critical and strategic minerals at Little Nahanni and the proposed Silver Switchback acquisition.
Write to France Pinzon at Mining.com.au
Images: Lake Winn Resources
