Business
Lux Metals Upsizes Private Placement to $3,500,000
Vancouver, British Columbia--(Newsfile Corp. - December 23, 2025) - Lux Metals Corp. (TSXV: LXM)...
About this update from Lux Metals Corp
[{"type":"text","content":"Lux Metals Upsizes Private Placement to $3,500,000Vancouver, British Columbia--(Newsfile Corp. - December 23, 2025) - Lux Metals Corp. (TSXV: LXM) (the \"Company\" or \"Lux\") announces that further to its news release dated December 10, 2025, due to strong investor demand, it has increased the size of its previously announced private placement from up to 12,500,000 units of the Company (\"Units\") to up to 17,500,000 Units at a price of $0.20 per Unit for total gross proceeds of up to $3,500,000 (the \"Placement\"). Each Unit will consist of one common share (a \"Share\") and one transferrable share purchase warrant, each warrant (a \"Warrant\") exercisable into one additional Share for a period of two years from date of issue at a price of $0.40 per share. If after all regulatory holds on the Warrants expire and the Shares trade on the TSX Venture Exchange (\"TSXV\") at a price of $0.60 or more for ten consecutive trading days at any time (the \"Acceleration Event\"), then the Warrants will expire, subject to the Company's discretion, on the earlier of the expiry date and 4:30 p.m. (Vancouver time) on the date which is 30 calendar days after the Company provides notice by way of news release to the holders of the Warrants that the Acceleration Event has occurred.The gross proceeds from the issuance of the Units will be used for exploration costs and general working capital.The Company may pay finders' fees comprised of cash and/or non-transferable warrants in connection with the Placement, pursuant to the policies of the TSXV and applicable securities laws. The Company anticipates closing of the Placement (in one or more tranches) as soon as practicable subject to receipt of all necessary regulatory approvals, including the approval of the TSXV. All securities issued under the Placement will be subject to applicable regulatory holds expiring four months and one day from date of issue.This news release does not constitute an offer to sell or solicitation of an offer to sell any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the \"U.S. Securities Act\") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state secur...