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Luca Mining Announces Closing of CAD $20.76 Million Private Placement and Debt Settlements
(NewsDirect) Luca Mining Corp. (“ Luca ” or the “ Company ȁ...
About this update from Luca Mining Corp
[{"type":"text","content":"Luca Mining Announces Closing of CAD $20.76 Million Private Placement and Debt Settlements\n \n \n (NewsDirect)\n \n \n Luca Mining Corp.\n(“\n \n Luca\n \n ” or the “\n \n Company\n \n ”, formerly Altaley\nMining Corporation.) (TSX-V: LUCA; OTCQX: LUCMF; Frankfurt: TSGA) is\npleased to announce that it has closed the second tranche (the\n“\n \n Second Tranche\n \n ”) of its previously announced non-brokered\nprivate placement (the “\n \n Private Placement\n \n ”) for aggregate\ngross proceeds of $20,755,535.17 (see the Company’s news release\ndated March 31, 2023). Under the Second Tranche, the Company has sold\n6,889,462 units of the Company (each, a “\n \n Unit\n \n ”) at a price\nof CAD $0.35 per Unit for gross proceeds of CAD $2,411,312.20. On\nApril 25, 2023, the Company closed the first tranche of the Private\nPlacement for gross proceeds of CAD $18,344,222.97 (see the\nCompany’s news release dated April 26, 2023). The aggregate gross\nproceeds are slightly higher than the original announced amount of\n$20,300,000 Each Unit consists of one common share of the Company (a\n“\n \n Share\n \n ”) and one-half of one transferable share purchase\nwarrant (each whole, a “\n \n Warrant\n \n ”). Each Warrant entitles\nthe holder thereof to acquire one additional Share (a “\n \n Warrant\nShare\n \n ”) at a price of CAD $0.50 per Warrant Share until June 2,\n2025 (the “\n \n Expiry Date\n \n ”), subject to acceleration. If the\nclosing price of the Shares on the TSX Venture Exchange or such other\nstock exchange as Luca is listed on exceeds CAD $0.90 for 15\nconsecutive trading days, the Company will earn the right, by\nproviding notice (the \"\n \n Acceleration Notice\n \n \") to the\nwarrant holders via a news release or written notice, to accelerate\nthe Expiry Date of the Warrants to 4:00 P.M. (Vancouver time) on the\n30\n \n th\n \n day from the date of the Acceleration Notice (the\n“\n \n Accelerated Expiry Date\n \n ”). If the Company provides an\nAcceleration Notice, all Warrants that are not exercised by the\nAccelerated Expiry Date will expire.\n \n \n All securities issued in connection under the\nSecond Tranche are subject to a four month plus one day hold period\nunder ...