Mr. Robert Rosner reports
LUCKY MINERALS INC. ANNOUNCES CLOSING OF FINAL TRANCHE OF PRIVATE PLACEMENT
Lucky Minerals Inc. has closed the final tranche of its continuing private placement by the issuance of an additional
amount of 957,720 units of the company issued at a price of 15 cents per unit for gross proceeds of
$143,658. Together with the first tranche closed on Oct. 12, 2018, the company has raised aggregate gross
proceeds of $1.25-million as the private placement was fully subscribed. Each unit consists of one common share
in the share capital of the company and one-half common share purchase warrant of the company. Each whole warrant entitles the holder thereof to purchase one common share in the share capital of
the company at an exercise price of 22 cents for a period of 24 months following the date of issuance. The closing of
private placement is subject to TSX Venture Exchange final acceptance. Securities issued pursuant to the private placement are subject to a statutory hold period of four months and a day from the date of issuance.
One insider of the company participated in this final tranche of the private placement and subscribed for an aggregate
of 224,387 units for gross proceeds of $33,658. Participation of insiders of the company in the private placement
constitutes a related-party transaction as defined under Multilateral Instrument 61-101 (Protection of Minority
Security Holders in Special Transactions). The company is relying on the exemption from the formal
valuation requirement found in Section 5.5(b) of MI 61-101 (Issuer Not Listed On Specified Markets) and also relying
on the exemption from the minority approval requirement found in Section 5.7(1)(a) of MI 61-101 (Fair Market Value
Not More Than 25 Per Cent of Market Capitalization) and Section 5.7(b) of MI 61-101 (Fair Market Value Not More Than
$2.5-million for the Related Party).
All capitalized terms not otherwise defined in this undertaking have the meanings attributed to them in the press
releases of the company filed on SEDAR and dated Oct. 11, 2018, and Oct. 12, 2018, which also provide
complete details on the private placement.
The company intends to use the net proceeds from the private placement for working capital and general corporate
About Lucky Minerals
Lucky Minerals is an exploration and development company targeting large-scale mineral systems in proven districts with the potential to host
We seek Safe Harbor.
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