Lucky Minerals Inc LKMNF

Lucky Minerals Increases PP to $2M, adds Strategic Investor

[alphaflight]

May 31, 2022
 

LUCKY MINERALS INCREASES NON-BROKERED PRIVATE PLACEMENT FINANCING TO $2.0 MILLION AND ADDS ADDITIONAL STRATEGIC INVESTOR, VICTOR CANTORE

 
Vancouver, British Columbia, May 31, 2022 – Lucky Minerals Inc. (TSXV: LKY, OTC: LKMNF, FRA: LKY) (“Lucky” or the “Company”) is pleased to announce  that it has increased the previously announced (May 27, 2022 News Release) non-brokered private placement from 33,000,000 to up to 35,714,286 units (the “Units”) for gross proceeds of up to  $2.0 million (the “Offering”). Investors in the Offering now include Mr. Victor Cantore, President and CEO of Amex Exploration in addition to previously announced Mr. Michael Gentile, CFA.
 
The Offering will now consist of approximately 35,714,286 Units of the Company at CDN $0.056 per Unit, for gross proceeds of approximately $2.0 million. Each Unit is comprised of one common share (a “Share”) and one full three-year common share purchase warrant (a “Warrant”). Each Warrant entitles the holder thereof to acquire one additional Share at a price of CDN $0.10 per Share, until the date that is 36 months from the closing (the “Closing”) of the Offering. All the Shares and Warrants issued in connection to the Offering are subject to a statutory hold period expiring four months and one day from the date of issuance.
 
The Company may pay finders’ fees on a portion of the Offering in accordance with applicable securities laws and the policies of the TSX Venture Exchange.
 
The net proceeds of the Private Placement will be used to support the first drill program on the Company’s Fortuna Project in Ecuador and for general working capital purposes.
 
The Offering is subject to TSX Venture Exchange approval.
 
Additional strategic investor Mr. Victor Cantore
 
Mr. Cantore is a seasoned capital markets professional specializing in the junior mining and resource sector. Mr. Cantore has been President & CEO at Amex Exploration since 2016. Under his leadership Amex Exploration has made one of the most significant gold discoveries in Quebec and has led the company through an enormous growth and expansion period. He has also been involved as an officer, a director, or a significant shareholder of several other mining companies including Vanstar Mining Resources, Nemaska Lithium, Vision Lithium, Freeman Gold, Royal Fox Gold and Generic Gold. Mr. Cantore is deeply connected to the Canadian, American and European financial markets that specialize in the mining sector as well as leading mineral exploration professionals globally. As an established executive and active shareholder in the mining space he leverages his connections and expertise to build value in companies by making new discoveries of valuable mineral deposits that are required for global growth and prosperity.
 
Francois Perron, Lucky’s President and CEO states, “The foundation for our future growth continues to be strengthened with the addition of Mr. Cantore to our shareholder base. Our project in Ecuador is entering a very exciting phase. The entire team is looking forward to the first drilling of the Discovery Zone at Wayka in the coming weeks.”
 
 
ON BEHALF OF THE BOARD
 
“Franois Perron”
Chief Executive Officer
 
About Lucky
 
Lucky is an exploration and development company targeting large-scale mineral systems in proven districts with the potential to host world class deposits. Lucky owns a 100% interest in the Fortuna Property.
 
The Company’s Fortuna Project is comprised of twelve contiguous, 550 km² (55,000 Hectares, or 136,000 Acres) exploration concessions. Fortuna is located in a highly prospective, yet underexplored, gold belt in southern Ecuador.
 
Further information on Lucky can be found on the Company’s website at www.luckyminerals.com and at www.sedar.com, or by contacting Franois Perron, President and CEO, by email at [e-mail] or by telephone at [phone].