(TheNewswire)
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Vancouver, British Columbia – TheNewswire - April 26, 2024 - Lexston Mining Corporation (the “Company” or “Lexston”) (CSE:LEXT) (OTC:LEXTF) (Frankfurt:W5G) is pleased to announce a non-brokered private placement to raise gross proceeds of up to $400,000 through the issuance of up to 6,666,666 units at a price of $0.06 per unit (the “Private Placement”). Each unit will consist of one common share and one common share purchase warrant. Each common share purchase warrant will entitle the holder to purchase one common share at a price of $0.08 for two years from the date of issuance.
The Company plans to use the proceeds of the Private Placement for general working capital and exploration of mineral properties. Certain directors and officers of the Company may participate in the Private Placement. Finder’s fees in cash and/or securities may be paid on gross proceeds of the Private Placement, as permitted by securities laws.
The securities to be issued in connection with the Private Placement are subject to the Company’s filing requirements with the Canadian Securities Exchange. All securities will be subject to a four-month statutory hold period after closing.
About Lexston Mining Corporation
The Company is a Canadian mineral exploration company, focused on the acquisition and development of mineral projects, with the objective to enhance value to all its stakeholders. The Company has a mineral exploration projects in British Columbia and Nunavut, Canada.
On Behalf of the Board of Directors
LEXSTON MINING CORPORATION
Jagdip Bal
Chief Executive Officer
Telephone: (604) 928-8913
Email: info@lexston.ca
The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.
Forward-looking statements
This news release contains "forward-looking information" under applicable Canadian securities legislation. Such forward-looking information reflects management's current beliefs and are based on a number of estimates and/or assumptions made by and information currently available to the Company that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors that may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Readers are cautioned that such forward-looking information are neither promises nor guarantees and are subject to known and unknown risks and uncertainties including, but not limited to, general business, economic, competitive, political and social uncertainties, uncertain and volatile equity and capital markets, lack of available capital, actual results of exploration activities, environmental risks, future prices of base and other metals, operating risks, accidents, labour issues, objections by aboriginal people, delays in obtaining governmental approvals and permits, obtaining consents of aboriginal people and other risks in the mining industry.
These statements include but are not limited to obtaining financing, exploration permits, exploration of properties for minerals, liquidity of the common shares of the Company and future financings of the Company. These statements reflect management's current estimates, beliefs, intentions, and expectations. They are not guarantees of future performance. The Company cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by many material factors, many of which are beyond the Company’s control. Such factors include, among other things: risks and uncertainties relating to the acquisition of new properties, liquidity of the common shares of the Company, financings, the market valuing the Company in a manner not anticipated by management of the Company. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, the Company does not undertake to publicly update or revise forward-looking information.
The Company is presently an exploration stage company. Exploration is highly speculative in nature, involves many risks, requires substantial expenditures, and may not result in the discovery of mineral deposits that can be mined profitably. Furthermore, the Company currently has no reserves on its properties. As a result, there can be no assurance that such forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements.
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