placement 50mil shares at .025

Looks like they pumped it for the placement shifty dogs

PLACEMENT OF SHARES

Lakes Oil (“LKO”) advises that it has today placed through Kefu Underwriters Pty Limited a total of
50,000,000 ordinary fully paid shares at 2.5 cents each to raise a total of $1,250,000 before
brokerage. Funds are expected to be received over the next few days, and an Appendix 3B will be
issued at the time of allotment.
No shareholder approval to the placement is required.
The purpose of this placement is to raise funds for additional exploration costs.
Yours sincerely
LAKES OIL N.L.
UROBERT J. ANNELLS
Chairman