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Lancaster Resources Completes First Tranche of Unit Offering

Lancaster Resources Inc. (CSE:LCR | OTCQB:LANRF | FRA:6UF0) has successfully completed the first tranche of its announced unit offering on February 2, 2024.

Lancaster’s Latest Financial Milestone

Lancaster issued 2,125,000 units, with each unit comprising one share and a warrant. These can purchase one common share at $0.08, effective for three years after issue. The company engaged a finder for the offering, rewarding them with a $2,000 commission and 40,000 finder warrants at a similar per-share price, valid for the same period.
All securities from this offering adhere to a four-month plus one day hold period from their issue date. The proceeds, totaling $106,250, will bolster efforts at the Alkali Flat Lithium Brine Project in New Mexico, including a significant $38,000 consulting allocation.

Expanding Lancaster’s Lithium Exploration

Lancaster’s commitment to a Net Zero Lithium vision reflects in their exploration activities, notably at the 5,200-acre Alkali Flat property. Their strategy emphasizes sustainable extraction methods, aligning with global decarbonization and electrification shifts.
Additionally, Lancaster maintains interests in the Trans-Taiga Lithium Property and the Nelson Lake Copper Project, underscoring its diversified exploration portfolio aimed at critical metal resources.

About Lancaster Resources Inc.

Dedicated to the exploration of critical metals, Lancaster Resources stands at the forefront of the shift towards sustainable energy sources. With projects spread across strategic locations in North America, the company’s expertise in lithium brine discovery and development places it as a pivotal player in the industry’s future.

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