Mr. Robert Rosner reports
LUCKY MINERALS OBTAINS FINAL APPROVAL FROM THE TSX VENTURE EXCHANGE AND COMPLETES ITS ECUADORIAN ACQUISITION
Further to the fulfilment of the TSX Venture Exchange's filing requirements, Lucky Minerals Inc. has received final approval from the exchange and has completed its Ecuadorean acquisition as previously announced in press releases dated April 11, 2018, and April 30, 2018. The company acquired 100 per cent of Goldmindex SA, a private Ecuadorean company, by way of a share exchange between Lucky and Monterra Resources SA, whereas Lucky acquired all of the issued and outstanding shares of Goldmindex from Monterra and one individual, in exchange for 16 million common shares of the company to be issued to the vendors.
As more fully described in the press release dated Feb. 20, 2018, Lucky is gaining Goldmindex's 100-per-cent interest in a 54,985-hectare (550 square km) contiguous property position comprising 12 individual mineral concessions located 50 km south of Cuenca, the capital of Azuay province in Ecuador. The Fortuna property is a prospective land package located in the heart of a prolific Ecuadorean mineral belt near a number of significant gold and copper discoveries made during the last 20 years.
The transition agreement to be entered with a principal of Monterra in connection with the contemplated transaction and in relation to continuing advisory services to be rendered in Ecuador by such principal of Monterra in respect to the management and development of the Fortuna property remains subject to exchange approval as of the date of this press release. Such transition agreement shall become effective once the exchange is satisfied that such transition agreement is in compliance with the exchange rules and policies.
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