Mr. Allen Morishita reports
LUCKY STRIKE PRIVATE PLACEMENT FOR 6,000,000 SHARES CLOSED
Lucky Strike Resources Ltd.'s non-brokered private placement of six million units at a price of five cents per unit, for gross proceeds of $300,000, has been accepted for filing by the regulatory authorities.
Each unit consists of one common share and one warrant. Each warrant will be exercisable to acquire one common share at an exercise price of 10 cents at any time for a period of two years from the date of issuance, provided, however, that, in the event that, at any time, the closing price of the outstanding common shares on the exchange is greater than or equal to 35 cents for a period of 15 consecutive trading days, the issuer may, at its option, accelerate the expiry date of the warrants by giving notice to the holders thereof, and, in such case, the warrants will expire on the date which is the earlier of: (i) the 30th day after the date on which such notice is given by the issuer and (ii) the original expiry date.
The company will pay a finder's fee for a total of $22,000 plus issue 190,000 broker warrants. Each broker warrant is exercisable into one common share at 10 cents for one year from closing.
All securities issued to purchasers and finders under the offering will be subject to a four-month-and-a-day hold period from the date of issuance of the securities, pursuant to applicable securities legislation and the policies of the exchange.
The proceeds of the offering will be used for general working capital purposes.
We seek Safe Harbor.
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