Lakeside Minerals Inc.

Lakeside Minerals Inc.

September 16, 2014 08:30 ET

Lakeside Minerals Inc. Announces the Closing of the Financing With SIDEX Under Its "Field-Action 2014" Program

TORONTO, ONTARIO--(Marketwired - Sept. 16, 2014) - Lakeside Minerals Inc. (TSX VENTURE:LAK) (the "Company") is pleased to announce the Closing of the previously announced unsecured convertible debenture financing ("Financing") under SIDEX's program "Field Action 2014".

The Debenture will pay an annual interest rate of 12%, payable semi-annually in cash or common shares of the Company ("Shares"). The Debenture shall be convertible at a price of $0.05 per Share until September 16, 2015 and $0.10 per Share from September 17, 2015 until September 16, 2016. The Company will also issue 1,000,000 warrants ("Warrants") at the closing. Each Warrant is exercisable into Shares at a price of $0.07 per Share, for a period of 2 years from the Closing Date. The Debenture will mature 2 years from the Closing Date. The Debenture may be repaid at any time by the Company, subject to providing 45 days notice, and is repayable at maturity in cash or Shares at the option of the Company. The Warrants issued will be subject to a four-month hold period from the date of issuance.

The mission of SIDEX is to invest in companies engaged in mineral exploration in order to diversify Quebec's mineral base and open new territories to exploration and investment. "Field Action 2014" is a $3-Million financing program launched in the spring by SIDEX to encourage junior mineral exploration companies to pursue field work during the summer and fall 2014, employ young professionals and service companies and make way for new discoveries.

About Lakeside Minerals Inc.

Lakeside Minerals Inc. is engaged in acquiring, exploring, and developing mineral properties. The Company's flagship Launay property is located in the heart of the Abitibi, 48 km northeast of Rouyn-Noranda. The Launay property straddles a significant extent of the Macamic deformation zone: a major deformation zone in the Abitibi subprovince located north of the Porcupine-Destor deformation zone. Claims cover a 17 km long trend of known gold occurrences, several of which display significant historical and recent gold drill intersections. Lakeside is also pursuing potential acquisitions of interests in undervalued mineral exploration properties.

FORWARD-LOOKING STATEMENTS: Certain of the information contained in this news release may contain "forward-looking information". Forward-looking information and statements may include, among others, statements regarding the future plans, costs, objectives or performance of Lakeside Minerals Inc. (the "Company"), or the assumptions underlying any of the foregoing. In this news release, words such as "may", "would", "could", "will", "likely", "believe", "expect", "anticipate", "intend", "plan", "estimate" and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. Forward-looking statements and information are based on information available at the time and/or management's good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the Company's control. The Company does not intend, nor does the Company undertake any obligation, to update or revise any forward-looking information or statements contained in this news release to reflect subsequent information, events or circumstances or otherwise, except if required by applicable laws.

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.

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