Lincoln Ventures Ltd. announces private placement of 7,206,000 subscription receipts at an issue price of CAD 0.50 per subscription receipt for proceeds of CAD 3,603,000 on March 12, 2024. The subscription receipts will be issued in two phases proceeds of $1,103,000 will be issued in Phase 1 and proceeds of $2,500,000 will be issued in phase 2. Each subscription receipt issued in Phase 1 will be converted into one unit of the Company. Each Unit will be comprised of one post-consolidated common share and one common share purchase warrant.

Each Warrant will be exercisable for one additional post-consolidated common share at CAD 0.50 for a period of 12 months from the date of issuance until the Transaction closes, at which point the exercise period will be extended to 18 months from the date of issuance. Each subscription receipt issued in Phase 2 will be converted into one common share of the Resulting Issuer, without further consideration or action by the subscribers, on closing of the Transaction. All securities issued in the Financings will be subject to a four month hold period in accordance with Canadian securities laws.

The company may pay finder's fees 6% in cash and 6% in finder's warrants from the sale of subscription receipts to third parties sourced by finders. The transaction is subject to the approval of the TSX Venture stock exchange.