Lancaster Resources Announces Financing
Summary
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATESVancouver, British Columbia Lancaster Resources Inc. (CSE:LCR | OTCQB:LANRF | FRA:6UF0) (the Company) is pleased to announce that it is offering a non-brokered private placement for aggregate gross proceeds of up to $200,000 (the Offering). Each warrant will be exercisable into one common share of the Company at an exercise price of $0.08 per share for a period of three years.The proceeds from the private placement will be used for exploration at the Alkali Flat Lithium Brine Project in New Mexico, marketing publicity, additional property acquisitions and exploration, renewable energy and DLE testing and development, salaries, consulting fees, travel expenses and debt settlement.Finders fees of up to 8% cash and 8% warrants may be paid to finders in connection with the Offering. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.Closing of the Offering is expected to take place on January 31, 2024.Lancaster Resources (CSE:LCR | OTCQB:LANRF | FRA:6UF0) is engaged in exploring and critical minerals to take advantage of the global shift towards decarbonization and electrification. Guiding Lancaster Resources journey is a skilled management and technical team with collective involvement in over 15 commercial mineral discoveries and endowed with extensive experience in the creation of lithium brine targets and the exploration and development of Lithium projects across Canada, the American West, Mexico, and South America.Certain statements contained in this press release constitute forward-looking information. The use of any of the words could, expect, believe, will, projected, estimated, and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on Lancasters current belief or assumptions as to the outcome and timing of such future events.