Lucky Minerals Inc V.LKY

Lucky Minerals Strategic Partnership with Hubbard Drilling

[yukon_gold]

 

LUCKY MINERALS ANNOUNCES STRATEGIC PARTNERSHIP WITH HUBBARD DRILLING SERVICES AND PRIVATE PLACEMENT

 
Vancouver, British Columbia January 6, 2022 – Lucky Minerals Inc. (TSXV: LKY, OTC: LKMNF, FRA: LKY) (“Lucky” or the “Company”) is pleased to announce it has entered into a strategic partnership with Hubbard Drilling Services, (“Hubbard Drilling”) and also announces a non-brokered private placement of up to $2,011,795.
 
Non-Binding Letter of Intent: Drilling Contract and Shares for Services Agreement
 
The Company, has received a non-binding letter of intent (“Letter of Intent”) for a proposed drilling services contract from the Ecuadorian subsidiary of Hubbard Drilling whereby, subject to TSX Venture Exchange approval, Hubbard Drilling will be paid in shares for the drilling services provided.
 
Commitments Received: Non-Brokered Private Placement
 
In addition to the Letter of Intent, the Company announces it has received commitments from individuals, including a strategic partner related to Hubbard Drilling, to enter into non-brokered private placement agreements (“Private Placement”) for gross proceeds of up to CDN $ 2,011,795. The private placement will consist of 22,353,278 units of the Company at CDN $0.09 per unit, with each unit consisting of one common share and one full two-year common share purchase warrant, exercisable at a price of CDN $0.20 per common share.  The Company expects to close in the coming days.
The Company may pay finders’ fees on a portion of the proposed Private Placement in accordance with applicable securities laws and the policies of the TSX Venture Exchange.
 
This Private Placement is subject to TSX Venture Exchange approval.
 
The net proceeds of the Private Placement will be used to complete the first drill program on the Company’s Fortuna Project in Ecuador and for general working capital purposes.
 
Franois Perron President and CEO states “This initiative places Lucky on solid ground ahead of our upcoming drilling program. Our treasury will be bolstered by these additional investors and combined with the shares for drilling services agreement will allow the drilling to continue beyond our initial proposed program of 3,000 metres. Our work in the field continues to advance and we now expect to begin drilling at Wayka in the first quarter of 2022”
 
 
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.
 
Covid-19 Safety Protocols
Lucky has strict rules in place for all workers arriving to and from field sites.  All personnel are tested upon arriving and leaving and are tested every two weeks. All personnel are following COVID protocols with permanent disinfection procedures in place and are following correspondent social distancing while being isolated from the surrounding communities.
 
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].

[10bags]

So let me get this straight: the drilling company doesn't want to be paid in cash. They want to be paid in shares. And on top of that the drilling company is going to particpate in the placement., ie. they're giving Lucky cash so they can get more shares.......So it's like the drilling company is paying Lucky to drill their property, no? Wow, never came across anything like this at

[Buckmaster1]

I cannot answer this but would love to hear a response from a knowledgeable person on this statement. For such a promisimg company there is not much if any chat and input from investors on lky. Is there some other site I can go to find active chat on this company???