Lincoln Gold Announces Proposed Convertible Note Unit Issuance

Core Viewpoint - Lincoln Gold Mining Inc. has agreed to convert a shareholder loan into convertible note units worth C$200,000, which will include unsecured convertible debentures and common share purchase warrants [1][2][3] Summary by Sections Convertible Note Units - Each Note Unit consists of one unsecured convertible debenture and 1,000,000 common share purchase warrants, with an exercise price of C$0.20 for a period of 36 months [2][3] - The Notes will mature in 36 months unless converted earlier, with a conversion price of C$0.20 per Common Share, subject to TSX Venture Exchange approval [3] Interest and Payment Terms - Interest on the Notes will accrue at 18% per annum, payable at maturity, with the option to convert accrued interest into Common Shares at the closing price prior to conversion [4] Use of Proceeds - The proceeds from the issuance of the Note Units will be used for mineral lease payments, Bureau of Land Management payments, and immediate working capital [5] Regulatory Compliance - All securities issued will be subject to a four-month hold period under Canadian securities laws, and the issuance is contingent upon Exchange approval [6] Related Party Transaction - Ian Rogers, a director of the Company, currently holds 20.70% of the Common Shares and will require disinterested shareholder approval for the transaction due to the creation of a new Control Person [7][8] Early Warning Disclosure - Ian Rogers intends to acquire C$200,000 in Notes and 1,000,000 Warrants, which would increase his ownership to approximately 32.08% of the issued Common Shares after full conversion and exercise [9][10] Company Overview - Lincoln Gold is a Canadian precious metals development and exploration company with interests in the Bell Mountain and Pine Grove gold properties, both located in the Walker Lane mineral belt [13]