Lincoln Gold Announces Shares for Debt Transaction and Corporate Updates

Core Points - Lincoln Gold Mining Inc. intends to settle CDN $101,000 of indebtedness through the issuance of 673,333 units at an issue price of $0.15 per unit, which includes one common share and one-half of a warrant [1][2] - The creditor was unable to subscribe for the full amount in a previous private placement due to conditional approval from the TSX Venture Exchange [2] - The securities issued will be subject to a four-month hold period and the settlement is pending Exchange approval [3] Financial Transactions - The company will not proceed with a previously announced shares for debt transaction [4] - Lincoln Gold has secured an unsecured loan of CDN $190,160 from Ian Rogers, the Chair of the Board, with a 1% monthly interest rate, repayable in 24 months [5] - The loan is classified as a related party transaction, and the company relied on exemptions from formal valuation and minority shareholder approval requirements [5] Company Overview - Lincoln Gold is a Canadian precious metals development and exploration company based in Vancouver, BC, with interests in the Bell Mountain gold-silver property and the Pine Grove gold property [6] - The Bell Mountain project is fully permitted and moving towards production, while the Pine Grove project is in the final stages of permitting [6] - Both projects are located within 61 air miles of each other in the Walker Lane mineral belt, known for its gold and silver deposits [6]