Mr. Robert Rosner reports
LUCKY MINERALS INC. ANNOUNCES CLOSING OF NON-BROKERED PRIVATE PLACEMENT
Lucky Minerals Inc. has completed a first tranche of its non-brokered private placement by the issuance of
7,075,612 units issued at a price of 15 cents per unit for gross proceeds of $1,061,342. 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 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. A finder's fee of 8 per cent in cash, as well as a corporate finance fee of $2,500, is payable
on a portion of the units in association with the closing of the private placement, the whole totalling $9,825. The
closing of the private placement and the payment of finders' fees are subject to TSX Venture Exchange 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.
Two insiders of the company participated in the private placement and subscribed for an aggregate of 2,009,446
units for gross proceeds of $301,416.94. 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).
The company intends to use the net proceeds from the private placement for working capital and general corporate
About Lucky Minerals
Lucky Minerals is a venture-stage exploration company that is targeting a 550-square-kilometre property in the heart of a proven
and highly mineralized mineral district in Ecuador known as the Fortuna project, which has seen only limited
exploration and has never been drilled. Evidence of significant hydrothermal alteration and breccias, geochemical
anomalies, and placer mining supports potential for copper-gold porphyry systems and epithermal Au deposits similar to
numerous multimillion-ounce Au and bulk tonnage Cu deposits about 40 kilometres away.
We seek Safe Harbor.
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