Business
Luckystrike Arranges Financing
Vancouver, British Columbia--(Newsfile Corp. - March 27, 2019) - Luckystrike Resources Ltd. (...
About this update from Golden Sky Minerals Corp.
[{"type":"text","content":"Luckystrike Arranges FinancingVancouver, British Columbia--(Newsfile Corp. - March 27, 2019) - Luckystrike Resources Ltd. (TSXV: LUKY) (\"the Company or Luckystrike\") is pleased to report it has arranged a non-brokered private placement for gross proceeds totalling $426,780. Upon final acceptance by the TSX Venture Exchange (\"Exchange\") the company will have in excess of $1 million dollars in general working capital and will also be fully funded to execute its 2019 diamond drill program on its flagship 100 % owned Yukon Lucky Strike property. The 2019 drilling will focus on expanding the new gold zone along an 800 m section of a 1.8-kilometre buried IP chargeability anomaly that directly corresponds with the gold zone discovered with drill hole DDL-18-06. This zone is comprised of an unoxidized gold/sulphide rich unit assaying 4.55 gpt Au over 7.66 meters and remains open both along strike and to depth as reported in the November 13th press release. The offering consists of flow-through units at a price of $0.25 per unit and non-flow-through units at the price of $0.20 per unit. Each flow-through unit comprises one common share, which is a flow-through share for Canadian income tax purposes, and one one-half share purchase warrant. Two $0.50 one-half warrants will entitle the holder to purchase one additional common share, which is not a flow-through share, at the price of $0.50 for 24 months after closing. Each non-flow-through unit comprises one common share, which is not a flow-through share, and one share purchase warrant. Each $0.40 warrant will entitle the holder to purchase one additional common share, which is not a flow-through share, at a price of $0.40 for a period of 36 months after closing. If, at any time four months after the date of completion of the offering, the company's shares have a closing price equal to or higher than $0.80 per share for 10 consecutive trading days on the Exchange (as defined herein), the company shall thereafter be entitled to give notice to the holders of all $0.40 warrants, by news release, that such warrants will expire at 4:30 p.m. ET on that date which is 30 days after the date of such news release, unless exercised before the expiry of that period. If, at any time after four months after the date of completion of the offering, the company's shares have a closing price equal to or...