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Lancaster Resources Inc. Secures Up to $200K in Non-Brokered Private Placement Funding

Introduction to Lancaster Resources Funding

Lancaster Resources Inc. (CSE:LCR) has successfully launched a non-brokered private placement with an aim to secure aggregate gross proceeds as high as $200,000. Interested parties can invest in units priced at $0.05 each.

Offering Details and Use of Proceeds

Lancaster aims to issue 4,000,000 units. These include a share and a purchase warrant, with the latter being valid for three years at an $0.08 exercise price. The collected funds will enhance exploration at the Alkali Flat Lithium Project and support additional acquisitions, research and development activities, and other operational expenses. Investors may note a statutory hold period for newly issued securities.

Closing Date and Project Overview

The company plans to finalize this private placement by January 31, 2024. Lancaster Resources prioritizes sustainable mining and looks to leverage direct lithium extraction technologies, utilizing renewable sources like solar and geothermal energy. The Trans-Taiga Lithium Property in Quebec represents another area of interest for the company, aligning with its vision for climate-positive lithium production.

Contact Information

Penny White, the CEO of Lancaster Resources Inc., remains the point of contact for further corporate inquiries. Investors can reach out via email or phone.

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