Lakefield Ventures to seek private placements for operations

By Sheri Kasprzak

New York, Dec. 13 - Lakefield Ventures Inc. said it might be heading to the private placement market for additional funds in the coming year.

The company, according to a form 10-QSB filed with the Securities and Exchange Commission, has no sales and sustained a net loss of $7,500 for the quarter ended Sept. 30. For the year ended March 31, 2005, Lakefield reported a net loss of $35,081, compared with a net loss of $3,076 for the year ended March 31, 2004.

"The future of the company is dependent upon its ability to obtain financing and upon future profitable operations from the development of its mineral properties," said the report.

"Management has plans to seek additional capital through a private placement and public offering of its common stock."

Based in New Westminster, B.C., Lakefield is a mineral exploration company.

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