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Lions Bay Mining Corp. (CSE:LBM) New Listing

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The company was created as a spin-off from Bearing Lithium to hold the North American assets previously held by Bearing, with the Bearing shareholders holding approximately 26% of the company, following the recently completed private placement.

Additional Information:

Company: Lions Bay Mining Corp.
Stock Symbol: CSE: LBM
Date Published: Nov 23, 2018
Transcript: Available

Video Transcript:

I’m Erica James for Investmentpitch Media

Lions Bay Mining Corp. (CSE:LBM) is one of the latest new listing on the Canadian Securities Exchange, trading under the symbol “LBM”.

The company was created as a spin-off from Bearing Lithium to hold the North American assets previously held by Bearing, with the Bearing shareholders holding approximately 26% of the company, following the recently completed private placement.

Its primary asset is the Fish Lake Valley property, located in Esmeralda County, Nevada, approximately halfway between Las Vegas and Reno.

It is comprised of a contiguous 1,620 acre package of 81 lode claims, which are wholly-owned and unencumbered by royalties or property payments.

The claims, which cover an area of prospective lithium, boron and potassium mineralized sediments in the northeastern corner of Fish Lake Valley, are accessible by well-maintained gravel roads that connect to the main highway network.

First Division Ventures Inc. has an option to acquire a 50% interest in the Fish Lake Project

The company also an interest in the HY/Jay project located in Upper Hyland River area of eastern Yukon in a belt that hosts several high-grade gold vein occurrences, including the 3Ace property currently being explored by Golden Predator Mining Corp.

This property is subject to a purchase agreement with Golden Predator Mining Corp, whereby Golden Predator will acquire the property by making staged cash and stock payments over 4 years.

Lions Bay also has an interest in additional mineral claims located in the Yukon Territory of Canada, commonly referred to as the “VM” and the “VBA” properties.

The company recently closed a non-brokered private placement, raising gross proceeds of $500,000 from the sale 5 million units priced at $0.10 per unit.

Each unit consisted of 1 share and 1 warrant with each warrant exercisable at $0.25 for 24 months.

The company intends to use the net proceeds of the private placement to support First Division Ventures in its exploration of the Fish Lake Project, consider and evaluate potential acquisitions of additional mineral properties, and for working capital.

Following completion of the Private Placement, the Company has 10,510,000 common shares outstanding.

The shares are currently bid at $0.105.

For more information, please contact Jeremy Poirier, President and CEO, at 604-262-8835 or email jpoirier@bearinglithium.com

I’m Erica James for Investmentpitch Media