| Lincoln Mining Receives $100,000 Loan | |
| | |
|
August 10, 2015
Vancouver, British Columbia - Lincoln Mining Corporation, TSX-V: LMG ("Lincoln" or the "Company") announces that it has received loans totaling C$100,000 (the "Loans") to fund its working capital requirements from an arm's length party and an insider of the Company.
The Loans are unsecured and evidenced by promissory notes (the "Notes") bearing interest at 6-10% per annum, calculated and payable on demand. The Company may prepay the principal, in whole or in part, at any time without penalty.
As $50,000 is a loan from an insider bearing interest at 6% per annum (the "Insider Loan"), the Insider Loan constitutes a "related party transaction" within the meaning of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company relied upon the applicable exemptions under MI 61-101 from the formal valuation and minority shareholder approval requirements in relation to the Insider Loan.
Lincoln Mining Corp. is a Canadian precious metals exploration and development company with several projects in various stages of exploration and development which include the Pine Grove gold property in Nevada and the Oro Cruz gold property in California. In the United States, the Company operates under Lincoln Gold US Corp. and Lincoln Resource Group Corp. both Nevada corporations.
For further information, please contact Investor Relations at 604-688-7377 or visit the Company's website at www.lincolnmining.com.
On behalf of Lincoln Mining Corporation
"Paul Saxton"
Paul Saxton, President & CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
|
|
|
Lincoln Mining Corp
|
|
EXPLORATION STAGE |
CODE : LMG.V |
ISIN : CA5340181067 |
|
| |
ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Lincoln Mining is a silver and gold exploration company based in Canada. Lincoln Mining holds various exploration projects in Mexico. Its main exploration properties are PINE GROVE in USA and LA BUFA and HANNAH in Mexico. Lincoln Mining is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 5.1 millions as of today (US$ 3.7 millions, € 3.5 millions). Its stock quote reached its highest recent level on January 29, 2010 at CA$ 3.40, and its lowest recent point on June 28, 2019 at CA$ 0.01. Lincoln Mining has 25 500 000 shares outstanding. |