Vancouver, British Columbia--(Newsfile Corp. - March 12, 2024) - Lincoln Ventures Ltd. (TSXV: LX.H) ("Lincoln" or the "Company") further to its news release dated November 30, 2023, the Company is pleased to provide an update on the acquisition transaction (the "Transaction") with Prism Diversified Ltd. ("Prism") for the Clear Hills Lithium Project in Alberta (the "Property").

Transaction Update

The Company and Prism continue to work towards completion of the Transaction, which will result in Lincoln acquiring 100% legal and beneficial interest in the Property for consideration of 29,136,471 post-consolidated Lincoln common shares to Prism, at a deemed price of $0.50 per Lincoln post-consolidated share, for approximate consideration of $14,568,236. In connection with the Transaction, Lincoln will complete a consolidation of all of its issued and outstanding shares on a 1: 3.27 basis. On closing of the Transaction, Lincoln will change its name to "LithAlta Projects Ltd." ("LithAlta" or the "Resulting Issuer"). Subject to final approval of the TSX Venture Exchange (the "TSX-V"), it is anticipated that the common shares of LithAlta will be listed for trading on the TSX-V under the symbol "LAP" and LithAlta will be listed on the TSX-V as a Tier 2 mining issuer. see & read more on
https://www.newsfilecorp.com/release/201367/