Mr. Gordon Ellis reports
LUPAKA ANNOUNCES NON-BROKERED PRIVATE PLACEMENT
Lupaka Gold Corp. intends to complete a non-brokered private placement to raise gross proceeds of up to $120,000.
The company plans to issue up to two million units at a price of six cents per unit. Each unit consists of one common share of the company and one common share purchase warrant. Each warrant entitles the holder to purchase one additional common share of the company at a price of 10 cents for a period of three years from closing.
Insiders of the company will participate in the placement. No finders' fees are expected to be paid. The proceeds of the placement will be used to finance property acquisitions and development expenditures, and for general working capital.
Final closing is expected to occur before the end of June, 2023, subject to the receipt of final applicable regulatory approvals, including approval of the TSX Venture Exchange. The shares and warrants issued in the placement are subject to a four-month hold period.
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