Lakota Resources Inc.

Lakota Resources Inc.

September 21, 2011 12:48 ET

Lakota Closes Its Private Placement Financing

CALGARY, ALBERTA--(Marketwire - Sept. 21, 2011) - LAKOTA RESOURCES INC. (the "Company" or "Lakota") is pleased to announce that it has completed its private placement financing announced on September 14, 2011 by issuing 78,334,000 units ("Units") at $0.03 per Unit for total gross proceeds of $2,350,020. Each Unit comprised one common share and one-half of one common share purchase warrant (a "Warrant"). One full Warrant entitles the holder to purchase one additional common share at a price of $0.045 per share for a period of 2 years from the closing of the offering. The use of proceeds from this financing will be for working capital and ongoing exploration on the Company's exploration properties.

In conjunction with the financing, a total of 4,662,958 finder's fee units (a "FF Unit") will be paid as finders' fees to arm's length parties on a portion of the private placement. Each FF Unit will comprise one common share and one-half of one common share purchase warrant ("FF Warrant"). One full FF Warrant entitles the finder to purchase one additional common share at a price of $0.045 per share for a period of 2 years from the closing of the offering. In addition, the finders will receive 4,662,958 FF Warrants, exercisable at a price of $0.045 per share for a period of 2 years from the closing of the offering.

The securities issued will be subject to a four month hold period.

For further information regarding Lakota, see Lakota's disclosure documents on SEDAR at www.sedar.com.

Forward-Looking Statements

Certain information set out in this news release constitutes forward-looking information. Forward looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "intend", "could", "might", "should", "believe" and similar expressions. In particular, this joint news release contains the following forward-looking statements in respect to the use of the proceeds from the private placement. Forward-looking statements are based upon the opinions and expectations of management of the Company as at the effective date of such statements and, in certain cases, information provided or disseminated by third parties. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, and that information obtained from third party sources is reliable, they can give no assurance that those expectations will prove to have been correct. With respect to forward-looking statements contained in this news release, the Company has made assumptions regarding, among other thing, the ability to develop the Company's properties, the economic climate in the jurisdictions where the Company carries on operations and commodity prices. Although the Company believes that the expectations reflected in the forward-looking statements contained in this document, and the assumptions on which such forward-looking statements are made, are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned not to place undue reliance on forward-looking statements included in this document, as there can be no assurance that the plans, intentions or expectations upon which the forward-looking statements are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause actual results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, a significant drop in the price of gold, political turmoil in Tanzania and other risk factors set forth in the Company's continuous disclosure. Readers are cautioned that this list of risk factors should not be construed as exhaustive. These statements are made as at the date hereof.

Contact Information

  • Lakota Resources Inc.
    Marc Cernovitch
    (647) 203-7868

    Lakota Resources Inc.
    Colin Taylor
    (306) 664-4626