01:23:49 EST Mon 24 Feb 2020
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or Name

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Lucky Minerals Inc
Symbol LJ
Shares Issued 83,026,783
Close 2018-09-04 C$ 0.155
Recent Sedar Documents

Lucky Minerals increases placement to $1.25-million

2018-09-04 20:08 ET - News Release

Mr. Robert Rosner reports


Lucky Minerals Inc. has agreed to an increase of the gross proceeds to be raised pursuant to its previously announced non-brokered private placement to up to $1.25-million from $750,000 as disclosed in the company's press release dated Aug. 20, 2018. The private placement is being undertaken by the company concurrently with its previously announced bought deal prospectus offering with Clarus Securities Inc. for gross proceeds of $2.5-million as disclosed in the same press release.

The terms of the private placement remain otherwise unchanged consisting now of the issuance of up to 8,333,333 units of the company at a price of 15 cents per unit. Each unit consists of one common share in the share capital of the company and one common share purchase warrant of the company. Each warrant entitles the holder thereof to purchase one common share in the capital of the company at an exercise price of 22 cents for a period of 24 months following the closing date of the private placement. Closing of the private placement is subject to certain conditions, including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange. Securities to be issued pursuant to the private placement will be subject to a statutory hold period of four months and a day from the date of issuance.

The company intends to use the net proceeds from the private placement for working capital and general corporate purposes.

About Lucky Minerals Inc.

Lucky Minerals is a venture-stage exploration company that is targeting a large-scale porphyry copper-gold-molybdenum system in southern Montana that could potentially host significant gold deposit. The company is focused on its Emigrant Creek project, which covers a 15-square-kilometre area (six square miles) located in the core of the mineralized and intensely altered Emigrant mining district. To date, 10 highly mineralized breccia pipes and two porphyry targets exist within the company's property boundary.

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