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Private Placement: Lucky Minerals (TSXV:LKY)

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The company is looking to raise gross proceeds of up to $5 million from the placement of up to 62 million units priced at $0.08 per unit. The units consist of 1 share and 1 warrant, with the warrant exercisable at $0.15 for 24 months.

Additional Information:

Company: Lucky Minerals
Website: http://www.LuckyMinerals.com
Stock Symbol: TSXV: LKY
Date Published: Jan 26, 2021
Transcript: Available

Video Transcript:

I’m Megan Edwards for Investmentpitch Media

Lucky Minerals, an exploration and development company targeting large-scale mineral systems in proven districts with the potential to host world class deposits, has announced a non-brokered private placement.

The company is looking to raise gross proceeds of up to $5 million from the placement of up to 62 million units priced at $0.08 per unit.

The units consist of 1 share and 1 warrant, with the warrant exercisable at $0.15 for 24 months.

The shares are currently trading at $0.085.

The company intends to use the net proceeds to continue the ongoing exploration activities on its 100% owned Fortuna Property in southern Ecuador as well as for working capital and general corporate purposes.

The company's Fortuna Project, a royalty-free 550 square kilometer exploration concession, is located in a highly prospective, yet underexplored, gold belt in southern Ecuador.

Lucky’s Fortuna 3 Concession hosts the El Buitre copper-gold-moly porphyry target, which is located on a major mineralized belt.

It lies approximately 65 kilometers north northwest of the Fruta del Norte Mine, which is the largest gold deposit in Ecuador and a world class discovery.

Recent exploration has identified a significant area of altered volcanics in Fortuna 1 and systems of quartz veins in Fortuna 4, within the Shincata Gold Trend, which extends across the northwest Fortuna concessions for approximately 22 kilometers.

One prospect, El Garo, is a large epithermal gold target, which is open in all directions, where the company is preparing for a soil grid sampling program over an area of approximately 4 kilometers by 2 kilometers.

Lucky has entered into a memorandum of understanding on Fortuna with First Quantum Minerals whereby First Quantum is able to earn up to 70% on primary copper targets.

The agreement with First Quantum allows them to focus on copper mineralization at El Buitre and on the surrounding Fortuna 3 to 6 concessions.

Lucky retains a 100% interest in all primary gold deposits and copper interests of less than 500 kilotonnes of payable copper discovered by First Quantum.

Lucky also owns 100% of the Emigrant Creek Project in southern Montana, which covers a 15 square kilometer area in an intensely altered and mineralized porphyry copper-gold-moly system.

To subscribe to Lucky’s private placement, please visit www.capiche.io, whose proprietary technology offers investors a streamlined process for subscribing to private placements.

For more information, please visit the company’s website, www.LuckyMinerals.com, contact Francois Perron, CEO, at 866-924-6484 or by email at investors@LuckyMinerals.com.

I’m Megan Edwards for Investmentpitch Media