Posted in | Gold | Mining Business

Lincoln Mining Announces Private Placement

Lincoln Mining is hoping to set up a non-brokered private placement for $300,000. The company listed on the Toronto Stock Exchange is looking to sell 4,000,000 units priced at $0.75 each.

Funds raised are earmarked for work at the Pine Grove gold property, La Bufa gold and silver property and the Oro Cruz gold property and also as general working capital.

Each single unit sold will comprise of one common share of the company and one half, non-transferable common share purchase warrant. Buying a whole purchase warrant will allow the holder to get an additional common share of the company at a price of $0.10 per share for the period of a year from closing the deal.

The qualified persons acting as finders for the private placement will get non transferable warrants equal to 10% of the total number of units sold by the person. These warrants will allow the finder to acquire a common share of the company at a rate of $0.75 per share for a period of one year from the date of closing the deal.

The scheme is subject to getting all regulatory approvals from the Toronto Venture Exchange. As per Canadian securities laws the securities issued under this private placement will be subject to a four month hold period from the closing date. Other restrictions that are applicable as per the securities law of jurisdictions may also apply outside Canada.

Joel Scanlon

Written by

Joel Scanlon

Joel, originally from the UK, emigrated to Australia in 1995 and spent 5 years working in the mining industry as an exploration Geo-technician where he developed skills in GIS Mapping and CAD. Joel also spent a year working underground in a gold/copper mine. Upon moving to the North Coast of NSW, Australia Joel worked as a graphic designer for a leading consultancy firm before starting a successful business providing graphic and web design services to local businesses on the eastern seaboard of Australia. Joel is skilled in project management, web programming, design, animation, database and networking, software and editing. Joel has been with AZoNetwork since its inception in 2000.

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