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Founders Metals Inc. Provides Bi-Weekly Status Report Regarding MCTO and Update Regarding Annual Audited Financial Statements

Vancouver, British Columbia–(Newsfile Corp. – January 13, 2022) – Founders Metals Inc. (TSXV: FDR) ("Founders" or the "Company") provides this bi-weekly…

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Vancouver, British Columbia–(Newsfile Corp. – January 13, 2022) – Founders Metals Inc. (TSXV: FDR) (“Founders” or the “Company”) provides this bi-weekly default status report in accordance with National Policy 12-203 – Cease Trade Orders for Continuous Disclosure Defaults (“NP 12-203”). As previously stated in the Company’s press release dated December 30, 2021, the Company will be delayed in the filing of its audited annual financial statements, accompanying management discussion and analysis and related CEO and CFO certifications for the year ended August 31, 2021 (the “Annual Filings”) and the Company applied for and was granted a management cease trade order in respect of the delayed Annual Filings (the “MCTO”) by the British Columbia Securities Commission. The MCTO prohibits the CEO and CFO of the Company from trading in the Company’s securities for so long as there are filings that are outstanding under applicable securities laws. The MCTO does not affect the ability of the general investing public to trade in the Company’s listed common shares. The Company’s board of directors and its management are working expeditiously to meet the Company’s obligations relating to the filing of the Annual Filings. At this time, the Company anticipates being able to complete the Annual Filings on or before January 29, 2022.

About Founders Metals Inc.

Founders Metals Inc. is a Canadian exploration company focused on advancing the resource potential of the Elmtree Gold Project in northeastern New Brunswick. The road-accessible project consists of three expansion-ready gold deposits and numerous additional exploration targets. Founders is a member of the Metals Group of companies, an award-winning team of professionals who prioritize technical excellence, careful project selection, and uncompromising corporate governance. The team has a recognized ability to capitalize on investment opportunities and deliver shareholder returns.

For further information, please contact:

Nick Stajduhar, Director
Telephone: +1 (780) 701-3216
Email: [email protected]

FORWARD-LOOKING INFORMATION

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of the word, “will” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this news release contains forward-looking information relating to the anticipated date for filing the annual financial statements for the year ended August 31, 2021 and related management’s discussion and analysis.

Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the Company. The Company cautions the reader that the above list of risk factors is not exhaustive. Those assumptions and factors are based on information currently available to the Company. The forward-looking information contained in this release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws, or as otherwise may be disclosed in this news release. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

Neither the 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.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/110077





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Lincoln Announces Passing of Director Shing Lee

VANCOUVER, BC / ACCESSWIRE / January 28, 2022 / Lincoln Gold Mining Inc. ("Lincoln" or the "Company") (TSXV:LMG) announces with great sadness the sudden…

VANCOUVER, BC / ACCESSWIRE / January 28, 2022 / Lincoln Gold Mining Inc. (“Lincoln” or the “Company”) (TSXV:LMG) announces with great sadness the sudden passing of Mr. Shing Lee, a director of Lincoln since 2019. In addition to his tenure with the Company, Mr. Lee was a prominent businessman in Hong Kong and Chief Executive Officer of Wuling Motors Holdings Ltd., a publicly listed automotive company in Hong Kong. His commitment, guidance and support will be greatly missed.

Paul Saxton, Chief Executive Officer of the Company commented: “We are deeply saddened by the news of Mr. Lee’s passing. He was a well-liked and much respected colleague and we will greatly miss his friendship, guidance and unwavering support. On behalf of the management and staff, we are grateful for all his contributions to the Company and extend our deepest condolences to his family, friends and colleagues during this incredibly difficult time”.

On behalf of Lincoln Gold Mining Inc.
Paul Saxton
President and CEO, Lincoln Gold Mining Inc.
Tel: (604) 688-7377
Email: saxton@lincolnmining.com

About Lincoln Gold Mining Inc.

Lincoln Gold Mining Inc. is an advanced-stage gold mine exploration and development company holding a 100% interest in the Pine Grove Gold Project, in the Walker Lane structural zone of western Nevada. The Company has prepared a preliminary economic assessment of the Pine Grove Gold Project pursuant to National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Lincoln is working with the United States Forest Service to secure the permits necessary to develop the property into a low-cost open pit heap leach operation including a high-grade gravity circuit.

Lincoln continues the development of exploration plans for the newly acquired Shawinigan property in Quebec to evaluate the copper, nickel, and cobalt opportunities at the site. The Company has recently expanded the area of exploration to approximately 50 square kilometers.

Lincoln also owns an interest in a joint venture in respect of the Oro Cruz Gold Property in California. Lincoln’s joint venture partner is advancing the Oro Cruz Gold Property towards further exploration, development, and production.

Lincoln holds its interests in the US projects through its wholly owned subsidiaries, Lincoln Resource Group Corp., and Lincoln Gold US Corporation, both Nevada corporations.

For more information, please contact Paul Saxton, President and CEO of the Company.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

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.

All statements, trend analysis and other information contained in this press release relative to markets about anticipated future events or results constitute forward-looking statements. All statements, other than statements of historical fact, included herein, including, without limitation, statements relating to the permitting process, future production of Pine Grove Gold Project, budget and timing estimates, the Company’s working capital and financing opportunities and statements regarding the exploration and mineralization potential of the Company’s properties, are forward-looking statements. Forward- looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements. Important factors that could cause actual results to differ materially from Lincoln’s expectations include fluctuations in commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; the need for cooperation of government agencies and native groups in the exploration and development of properties and the issuance of required permits; the need to obtain additional financing to develop properties and uncertainty as to the availability and terms of future financing; the possibility of delay in exploration or development programs and uncertainty of meeting anticipated program milestones; and uncertainty as to timely availability of permits and other governmental approvals. Forward-looking statements are based on estimates and opinions of management at the date the statements are made. Lincoln does not undertake any obligation to update forward-looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward- looking statements.

SOURCE: Lincoln Gold Mining Inc.

View source version on accesswire.com:
https://www.accesswire.com/686209/Lincoln-Announces-Passing-of-Director-Shing-Lee






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Today’s News

Founders Metals Inc. Files Annual Audited Financial Statements for Revocation of MCTO

Vancouver, British Columbia–(Newsfile Corp. – January 28, 2022) – Founders Metals Inc. (TSXV: FDR) ("Founders" or the "Company") is pleased to confirm…

Vancouver, British Columbia–(Newsfile Corp. – January 28, 2022) – Founders Metals Inc. (TSXV: FDR) (“Founders” or the “Company”) is pleased to confirm that further to its news releases dated January 13, 2022 and December 30, 2021, it completed yesterday the filing of its audited annual financial statements, accompanying management discussion and analysis and related CEO and CFO certifications for the year ended August 31, 2021 (the “Annual Filings”) under its profile on SEDAR at www.sedar.com. As a consequence, it expects the Company’s management cease trade order in respect of the delayed Annual Filings (the “MCTO”) to be revoked by securities regulators in accordance with National Policy 12-203 – Cease Trade Orders for Continuous Disclosure Defaults after the end of the trading day later today.

About Founders Metals Inc.

Founders Metals Inc. is a Canadian exploration company focused on advancing the resource potential of the Elmtree Gold Project in northeastern New Brunswick. The road-accessible project consists of three expansion-ready gold deposits and numerous additional exploration targets. Founders is a member of the Metals Group of companies, an award-winning team of professionals who prioritize technical excellence, careful project selection, and uncompromising corporate governance. The team has a recognized ability to capitalize on investment opportunities and deliver shareholder returns.

For further information, please contact:

Nick Stajduhar, Director
Telephone: +1 (780) 701-3216
Email: [email protected]

FORWARD-LOOKING INFORMATION

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of the word, “will” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this news release contains forward-looking information relating to the anticipated date for filing the annual financial statements for the year ended August 31, 2021 and related management’s discussion and analysis.

Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the Company. The Company cautions the reader that the above list of risk factors is not exhaustive. Those assumptions and factors are based on information currently available to the Company. The forward-looking information contained in this release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws, or as otherwise may be disclosed in this news release. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

Neither the 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.

Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/112010





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S2 Announces Closing of Private Placement Financing

Toronto, Ontario–(Newsfile Corp. – January 28, 2022) – S2 Minerals Inc. (CSE: STWO) ("S2" or the "Company") announces that it has closed the previously-announced…

Toronto, Ontario–(Newsfile Corp. – January 28, 2022) – S2 Minerals Inc. (CSE: STWO) (“S2” or the “Company“) announces that it has closed the previously-announced non-brokered private placement (the “Offering“). In connection with the closing of the Offering (the “Closing“), the Company sold 12,000,000 units of the Company (the “Units“) at a price of $0.12 per Unit, for gross proceeds of $1,440,000. Each Unit consisted of one common share (“Share“) of the Company and one-half of a common share purchase warrant (“Warrant“). Each whole Warrant entitles the holder, on exercise, to purchase one Share for a period of two years following the closing date of the Offering at an exercise price of $0.25 per Share.

The proceeds from the Offering will be used for general corporate purposes. The securities issued pursuant to the Offering will be subject to a four-month hold period. The Offering is subject to final acceptance of the Canadian Securities Exchange (“CSE“).

Insiders of the Company subscribed for a total of 7,800,000 Units (being $936,000) of the Offering. The Offering is considered a “related party transaction” pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101“) as a result of the insider participation. Pursuant to Sections 5.5(b) and 5.7(1)(b) of MI 61-101, the Company is exempt from the requirements to obtain a formal valuation and minority shareholder approval because the Shares trade on the CSE and the fair market value of insiders’ participation in the Offering was for cash and was below $2,500,000. The Company will file a material change report in respect of the Offering, but it will be filed less than 21 days in advance of the Closing, which the Company deems reasonable in the circumstances so as to be able to avail itself of potential financing opportunities and to complete the Offering in an expeditious manner.

Early Warning Disclosure

On January 28, 2022, in connection with the Closing, (i) S2’s Executive Chairman, Patrick Sheridan, and a joint actor entered into a subscription agreement pursuant to which they purchased 5,000,000 Units for an aggregate subscription price of $600,000, and an entity that is a joint actor of Mr. Sheridan entered into a subscription agreement pursuant to which that entity purchased 2,000,000 Units for an aggregate subscription price of $240,000, and (ii) an entity controlled by Dan Noone, S2’s CEO, entered into a subscription agreement pursuant to which that entity purchased 400,000 Units for an aggregate subscription price of $48,000.

Prior to the Closing, (i) Mr. Sheridan had ownership and control (together with one of his joint actors) over an aggregate of 8,697,421 Shares (which included the Shares acquired on May 18, 2021 on the exercise of rights issued by the Company, and represented approximately 34.4% of the then issued and outstanding Shares), and (ii) Mr. Noone had ownership and control over an aggregate of 1,123,772 Shares (which included the Shares acquired on May 18, 2021 on the exercise of rights issued by the Company, and represented approximately 4.44% of the then issued and outstanding Shares).

Following the Closing, (i) Mr. Sheridan has ownership and control (together with his joint actors) over an aggregate of 15,697,421 Shares (which represents approximately 42.1% of the issued and outstanding Shares) and 3,500,000 Warrants entitling him (and his joint actors) to acquire an additional 3,500,000 Shares (which represents approximately 47.0% of the Shares on a partially diluted basis), and (ii) Mr. Noone has ownership and control over an aggregate of 1,523,772 Shares (which represents approximately 4.1% of the issued and outstanding Shares) and 200,000 Warrants entitling him to acquire control over an additional 200,000 Shares (which represents approximately 4.6% of the Shares on a partially diluted basis).

The Shares and Warrants comprising the Units were acquired by each of Messrs. Sheridan and Noone for investment purposes. Depending on various factors including, without limitation, the Company’s financial position, the price levels of the Shares, conditions in the securities markets and general economic and industry conditions, the Company’s business or financial condition and other factors and conditions they deem appropriate, each of them may increase or decrease their beneficial ownership of Shares or other securities of the Company whether in the open market, by privately negotiated agreement or otherwise.

The Company is located at 141 Adelaide Street West, Suite 1101, Toronto, Ontario, M5H 3L5. A copy of the Early Warning Report for each of Messrs. Sheridan and Noone can be obtained by calling S2’s office (416.628.5904) or c/o 141 Adelaide Street West, Suite 1101, Toronto, Ontario, M5H 3L5 or on the Company’s SEDAR profile at www.sedar.com.

About S2 Minerals Inc.

S2 Minerals Inc. is a Canadian mineral exploration company and holds the Sandy Lake project in Ontario. The Sandy Lake project comprises approximately 167,000 acres of contiguous mineral claims in the Sandy Lake Archean Greenstone Belt, located approximately 140 miles north of Red Lake, Ontario. S2 beneficially holds a 100% interest in the mineral rights to approximately 137,000 acres, and holds a 50.1% interest in the approximately 15,000 acres of the “Weebigee Joint Venture” claims and a 50% interest in a further 15,000 acres of the Southern Block claims in joint ventures with Goldeye Explorations Limited, now part of Treasury Metals Inc. It is expected that over time, S2 may add new Canadian-focused exploration stage projects to its portfolio.

For further information please contact:

Dan Noone
CEO
+1.416.628.5904
Email: [email protected]

Forward-Looking Statements

This news release contains certain forward-looking statements, including, but not limited to, statements about the Offering, including final acceptance of the CSE and the proposed use of proceeds. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.

Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. The Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/112034







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