Lancaster Resources (CSE:LCR)

Lancaster Arranges $800,000 Private Placement

Lancaster Resources Inc. (CSE:LCR | OTCQB:LANRF | FRA:6UF0) (the "Company") is pleased to announce that it intends to complete a non-brokered private placement for aggregate gross proceeds of up to $800,000 (the "Offering"). The Offering will consist of up to 3,750,000 shares that qualify as flow-through shares for purposes of the Income Tax Act (Canada) at a price of $0.08 per share. Also, as part of the Offering, the Company intends to issue up to 10,000,000 units at an issue price of $0.05 per unit, with each unit comprised of one common share and one common share purchase warrant. Each warrant will be exercisable into one common share of the Company at an exercise price of $0.07 per share for a period of five years.

The proceeds from the private placement will be used to support the Company's ongoing activities, as outlined in the News Release dated October 26, 2023.

Finders fees of up to 8% cash and 8% warrants may be paid to finders in connection with the Offering. All securities issued as part of the Offering will be subject to a statutory hold period of four months and one day from the issuance date.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About Lancaster Resources Inc.

Lancaster Resources (CSE:LCR | OTCQB:LANRF | FRA:6UF0) is engaged in exploring battery and critical metals to take advantage of the global shift towards decarbonization and electrification. Lancaster has rights to acquire 100% of the Alkali Flat Lithium Project, near Lordsburg, New Mexico, USA, a set of claims approximately 5,200 acres (8.1 square miles) in size that Lancaster is exploring for concentrated sub-surface lithium brine deposits. Lancaster's vision is to produce Net Zero Lithium using direct lithium extraction technology powered by solar or geothermal energy.

Lancaster also holds the rights to a 100% interest in the Trans-Taiga Lithium Property located within the James Bay lithium district of Quebec and lying on the same geological trend as significant lithium discoveries, including Patriot Metals' Corvette Property. Lancaster plans to conduct exploration activities with a holistic view of stakeholder interests. 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.

Penny White, President & Chief Executive Officer
Lancaster Resources Inc.
Email: penny@lancasterlithium.com
Tel: 604-923-6100
Website: www.lancaster-resources.com

Cautionary Statement Regarding Forward-Looking Statements

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or Lancaster's future performance. 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 Lancaster's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, the ability of Lancaster to execute its exploration plans, obtain exploration and drilling permits, raise capital, retain key personnel, identify, acquire, explore, and develop high-quality mineral-rich properties, and integrate sustainable energy sources and innovative technologies for climate-positive resource production constitute forward-looking information. Actual results and developments may differ materially from those contemplated by forward-looking information. Readers are cautioned not to place undue reliance on forward-looking information. The statements made in this press release are made as of the date hereof. Lancaster disclaims any intention or obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events, or otherwise, except as may be expressly required by applicable securities laws. The Canadian Securities Exchange has not reviewed, approved or disapproved the contents of this news release.

Source

Click here to connect with Lancaster Resources Inc. (CSE:LCR | OTCQB:LANRF | FRA:6UF0), to receive an Investor Presentation

LCR:CC
Lancaster Resources

Lancaster Resources Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
Lancaster Resources (CSE:LCR)

Lancaster Resources


Keep reading...Show less
Lancaster Resources Engages KorrAI Technologies Inc. for Uranium Exploration Using AI Advanced Geospatial Solutions

Lancaster Resources Engages KorrAI Technologies Inc. for Uranium Exploration Using AI Advanced Geospatial Solutions

Lancaster Resources Inc. (CSE:LCR) (OTCQB:LANRF) (FRA:6UF0) ("Lancaster"), a North American lithium exploration company, is thrilled to announce the signing of a service agreement with KorrAI Technologies Inc. ("Korrai"), a pioneering artificial intelligence, earth systems modelling, and remote imaging company. This collaboration marks a significant step forward in Lancaster's mission to leverage cutting-edge technology to optimize and enhance its critical mineral exploration projects.

Under the terms of this agreement, KorrAI will provide Lancaster with advanced geospatial data products to identify field targets for sampling. This technology will be integral to Lancaster's exploration activities, specifically for uranium at the Catley Lake and Centennial East properties. The scope of KorrAI's work, as outlined in the contract, will include the identification and digitization of outcrop exposures from AI-based detection, mapping of iron oxide signatures, mapping and source vectoring of vegetation stress signatures, integrating geological and geophysical datasets, and the recommendation of exploration targets for field exploration and sampling programs.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Lancaster Resources Announces Update on Exploration Plans at Uranium Prospective Catley Lake and Centennial East Properties in Athabasca Basin and Announces Financing

Lancaster Resources Announces Update on Exploration Plans at Uranium Prospective Catley Lake and Centennial East Properties in Athabasca Basin and Announces Financing

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Lancaster Resources Inc. (CSE:LCR | OTCQB:LANRF | FRA:6UF0) ("Lancaster" and the "Company") announces an update on its exploration plans for its Uranium prospective Catley Lake & Centennial East properties in the Athabasca Basin of Saskatchewan, Canada.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Miguel Paucar Joins Lancaster Resources Advisory Board to Propel Corporate Growth and Sustainable Operations

Miguel Paucar Joins Lancaster Resources Advisory Board to Propel Corporate Growth and Sustainable Operations

Lancaster Resources Inc. (CSE:LCR) (OTCQB: LANRF) (FRA:6UF0) (" Lancaster "), a critical mineral exploration company, is pleased to announce the appointment of Miguel Paucar, B.Sc., M.Sc. to its Advisory Board. With over 28 years of extensive experience in the international mining sector, Miguel brings a wealth of knowledge and expertise from his work across diverse geographical regions including South Africa, Australia, Chile, Mexico, Peru, and Brazil. His career has encompassed significant roles in both underground and open-pit mining as well as geomechanics.

Miguel notably served as the Mining Director at Sigma Lithium from 2021 to 2022, where he spearheaded major advancements in lithium extraction technologies and sustainability practices. Under his leadership, the company implemented initiatives such as using 100% renewable energy and recycled water, producing "quintuple zero green" lithium with a focus on zero tailings dams and zero hazardous waste.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Lancaster Resources Appoints Paola Rojas to Advisory Board, Bolstering Global Expertise in Metals and Energy

Lancaster Resources Appoints Paola Rojas to Advisory Board, Bolstering Global Expertise in Metals and Energy

Lancaster Resources Inc. (CSE:LCR) (OTCQB: LANRF) (FRA:6UF0) (" Lancaster "), a critical mineral exploration company, is pleased to announce the appointment of Paola Rojas as a member of its Advisory Board. With her extensive experience in metals, energy, and technology investments, Paola will provide strategic insights and guidance to support Lancaster's growth and development.

Paola Rojas is a recognized corporate advisor, investor, and director with a significant track record in the Australian and American markets. As a principal at Synergy Resource Capital, she has spearheaded numerous successful initiatives, overseeing more than USD $80 million in mergers, acquisitions, and capital raising efforts with a strong focus on lithium, copper and precious metals. Her expertise in cross-border deal design, financial analysis, and investor relations will be invaluable to Lancaster as it continues to expand its project portfolio.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Lancaster Resources Welcomes Three Highly Experienced Industry Experts to Its Advisory Board

Lancaster Resources Welcomes Three Highly Experienced Industry Experts to Its Advisory Board

Highlights

  • Greg Foofat - With over 20 years of experience, Mr. Foofat has contributed to transactions exceeding $24 billion in M&A and A&D and approximately $5 billion in equity and debt financing.
  • Patrick Laperrière - Mr. Laperrière has overseen mining portfolios for Canada's largest pension funds and has led extensive equity raises for Canadian brokerage firms.
  • Jay Swartzentruber - As Director at Canam Metals, Mr. Swartzentruber is set to produce lithium and gold with exceptionally low production costs.

Lancaster Resources Inc. (CSE:LCR) (OTCQB:LANRF) (FRA:6UF0) (" Lancaster "), a critical mineral exploration company, is delighted to welcome three distinguished professionals to its advisory board: Greg Foofat, Patrick Laperrière, and Jay Swartzentruber.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Cleantech Lithium

DLE Pilot Plant First Stage Production Completed, Downstream Process Optimised with Sample of Battery-Grade Lithium Produced

CleanTech Lithium PLC (AIM:CTL, Frankfurt:T2N, OTCQX:CTLHF), an exploration and development company advancing sustainable lithium projects in Chile, announces completion of the first stage of production from the Company´s DLE pilot plant operations and results from successful downstream process test work to produce battery-grade lithium carbonate by process partners in North America.

Keep reading...Show less
White Cliff Minerals

Appointment of Strategic Advisor

White Cliff Minerals Limited (“WCN” or the “Company”) is pleased to announce the appointment of John Hancock (“John”) as a Strategic Advisor to the Board of White Cliff Minerals Ltd. The Company expects significant growth with its current and future portfolio of projects in the coming 12 months and is working now to secure appropriate personnel to assist with this.

Keep reading...Show less
Neon battery and lightning shapes.

Top 3 ASX Lithium Stocks of 2024

Global demand for lithium-based power presents a significant opportunity for Australia, the top lithium-producing nation. As countries and companies establish their positions in the battery value chain, Australia has the ability to leverage its strong output and vast reserves to shape the industry landscape into the 2030s.

The future of lithium demand relies heavily on the growth of the electric vehicle (EV) market, and in recent years its rapid expansion has led to much higher mining of the commodity — so much so that the market has entered a surplus.

This oversupply kept lithium prices subdued in the first half of 2024, but experts continue to forecast a bright long-term outlook for the essential battery material as countries around the world pursue net-zero goals.

Keep reading...Show less
White Cliff Minerals

Further IOCG, Copper and Epithermal Mineralisation Discovered at Great Bear Lake U-Cu-Ag-Au Project

Works commence at Nunavut Cu-Ag-Au Project

White Cliff Minerals Limited (“WCN” or the “Company”) is pleased to announce that further widespread, IOCG-U polymetallic, mineralisation has been visually observed during the maiden fieldwork program at the 100% owned Great Bear Lake U-Cu- Au-Ag Project in northern Canada and that works have now commenced at the 100% owned Nunavut Cu-Ag-Au Project.

Keep reading...Show less
Lithium periodic symbol leaning against lithium ore and blue batteries.

Top 6 Lithium Stocks of 2024

Now that Q2 has come to a close, it's time to look at the year's best-performing lithium stocks on Canadian, US and Australian exchanges.

While oversupply and weak prices kept some companies from registering big gains during the first half of 2024, others like those below still saw share price grow.Unlike the fluctuations observed in 2023, the lithium market has exhibited greater stability during the first half of 2024.

However, influenced by weak prices in China, the lithium hydroxide market has seen prices remain lower than anticipated.

Market oversupply prompted some lithium producers to trim 2024 output targets in hopes that some of the excess would be absorbed in the market.

Keep reading...Show less
Lithium periodic symbol and Canadian flag.

Top 5 Canadian Lithium Stocks of 2024

Continued surpluses in the lithium market have weighed down prices and impeded the sector’s growth during the second quarter of 2024. The excess has been attributed to heightened production in 2021 and 2022 amid higher lithium prices.

According to a July Fastmarkets report, increased lithium demand is fully priced into the market. China's lithium carbonate equivalent production from lepidolite rose by 126 percent year-over-year in April, while spodumene production increased by 109 percent. The accumulation of inventory suggests that there is no immediate supply shortage, but time is needed for demand to absorb the surplus.

With so much excess in the market, many lithium producers and explorers have struggled to see positive share price activity. However, several Canadian-listed lithium companies were able to see some growth during the first half of the year.

Keep reading...Show less
Lancaster Resources

Lancaster Resources Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×