LUCA CLARIFIES TRAFIGURA EARLY WARNING REPORT

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[{"type":"text","content":"\n\n\n\n LUCA CLARIFIES TRAFIGURA EARLY WARNING REPORT\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n VANCOUVER, BC\n \n\n ,\n \n\n Aug. 27, 2024\n \n\n /CNW/ -\n \n Luca Mining Corp.\n \n (\"\n \n Luca\n \n \" or the \"\n \n Company\n \n \") (TSXV: LUCA) (OTCQX: LUCMF) (Frankfurt: Z68) wishes to clarify a Form 62-103F1 Early Warning Report (the \"\n \n EWR\n \n \") issued today by Trafigura Beheer B.V. (\"\n \n Trafigura\n \n \").\n \n\n\n\n\n\n\n\n\n The EWR relates to a debt restructuring agreement entered into between Luca and Trafigura on\n \n December 11, 2023\n \n . The debt restructuring related to the conversion of an outstanding loan in the amount of\n \n US$5,800,000\n \n (the \"Principal Amount\") into a non-interest-bearing three-year term convertible debenture (the \"\n \n Convertible Debenture\n \n \").  The transaction was announced by the Company through news releases dated\n \n\n December 6, 2023\n \n\n and\n \n\n January 19, 2024\n \n\n .\n \n\n As Trafigura wished for the Convertible Debenture to be held by its subsidiary Urion Holdings (\n \n Malta\n \n ) Limited (\"Urion\") and the Convertible Debenture was to be secured, the Convertible Debenture was conditionally issued into escrow, subject to being formally executed and released once Trafigura and the Company were able to amend existing security agreements to insert Urion into same (the \"\n \n Condition Precedent\n \n \"). That process has taken several months and was finally completed in\n \n Mexico\n \n last week, such that the Condition Precedent was met, and Convertible Debenture could be formally perfected and released from escrow.\n \n\n The Convertible Debenture matures on\n \n January 11, 2027\n \n and should Urion choose to convert same, then based on a US$ conversion price to CAD$ of 1.30602 as of\n \n August 22, 2024\n \n , the conversion of the Convertible Debenture would result in Urion acquiring approximately 22,540,457 common shares in the capital of Luca (the \"\n \n Luca Shares\n \n \"), representing approximately 11.65% of the Luca Sha...

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