TORONTO, June 24 /CNW/ - Lakota Resources Inc. (LAK: TSX-V) (the
"Company") is pleased to announce that the Board of Directors of Lakota
Resources Inc. has authorized a common share private placement financing of up
to $1,250,000 (gross proceeds). The terms of the offering will be determined
by Lakota's Board imminently. All securities issued in connection with this
financing will be subject to a hold period of four months plus one day from
the Closing Date.
The principal use of proceeds from this financing is diamond drilling at
Lakota's Tembo property in Tanzania. Drilling will be underneath the extensive
artisanal gold workings found at Tembo. The Tembo property is contiguous to
Barrick's Bulyanhulu mine which supports a 12 million oz gold resource and
produces over 300,000 oz's of gold per year.
A finders fee or commission may be paid at the discretion of the Company
in respect of this private placement.
As at June 24, 2008 there were 51,851,023 common shares issued and
About the Company
Lakota Resources Inc. is a junior mineral exploration company. For
complete details on the Company, and its partners, management encourages
investors and interested parties to view its public documents filed on SEDAR
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release. No stock exchange, securities commission or other
regulatory authority has approved or disapproved the information contained
herein. All statements, other than statements of historical fact, in this news
release are forward-looking statements that involve various risks and
uncertainties, including, without limitation, statements regarding the future
plans and objectives of Lakota Resources Inc. There can be no assurance that
such statements will prove to be accurate. Actual results and future events
could differ materially from those anticipated in such statements. These and
all subsequent written and oral forward-looking statements are based on the
estimates and opinions of management on the dates they are made and are
expressly qualified in their entirety by this notice. Lakota Resources Inc.
assumes no obligation to update forward-looking statements should
circumstances or management's estimates or opinions change.
For further information:
For further information: Ian F.T. Kennedy, President, LAKOTA RESOURCES
INC., Phone: (416) 598-7700