LAKEWOOD MINING CO. LTD.
Tel: (604)
514-0041 Fax: (604) 514-9702
NEWS RELEASE
The Company has arranged a private placement of up to 2,000,000 units at a price of $0.03 per share for an aggregate purchase price of $60,000. Each unit consists of one share and one share purchase warrant exerciseable at a price of $0.05 per share for the first year and $0.10 for the second year from the date of closing. Proceeds from the private placement will be used for working capital.
The Company has also agreed with certain creditors to issue up to 1,199,333 shares of the Company at a price of $0.03 and 7,569,632 shares at a price of $0.05, to settle liabilities of approximately $414,461.60
The private placement and the shares for debt transactions described in this news release are subject to the acceptance of the TSX Venture Exchange.
ON BEHALF OF THE BOARD OF DIRECTORS:
“Charles Boitard”
Charles Boitard
President
Neither TSX Venture Exchange
nor its Regulation Services Provider (as that term is defined in the policies
of the TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.