Business
New Investment: Luca Mining Corporation
New Investment: Luca Mining Corporation.
About this update from Mineral And Financial Investments Ltd
[{"type":"text","content":"\n\nMINERAL AND FINANCIAL INVESTMENTS LIMITED\nNew Investment: Luca Mining Corporation\n \nHIGHLIGHTS\n· M&F has acquired 5,715,000 units, or 6.53% of the common equity of Luca Mining Corp.\n· Each Luca Mining unit is priced at C$0.35 and is comprised of one common share and ½ wt.\n· Each whole warrant is exercisable at C$0.50 for two years from the date of closing\n· Luca has two producing polymetallic mines in Mexico - Campo Morado and Tahuehueto\n· Completion of financing addresses Luca's under-capitalization and will fund expansion\nCamana Bay, Cayman Islands - 28 April 2023 - Mineral and Financial Investments Limited (LSE-AIM: MAFL) (\"M&F\" \"MAFL\" or the \"Company\") is pleased to announce that it has added Luca Mining Corp. (\"Luca\"), a listed mining company with two operating mines in Mexico, to its strategic portfolio. Having acquired 5,715,000 units of Luca being one common share of Luca (a \"Share\") and half a warrant (each whole, a \"Warrant\") together a (\"Unit\") at C$0.35 per Unit representing £1.178M or C$2,000,250.\nKEY TERMS AND OVERVIEW OF THE TRANSACTION\nM&F acquired 5,715,000 units of Luca (\"Unit\") at C$0.35 per Unit representing £1.178M or C$2,000,250, from Luca who sold Units pursuant to a private fundraising. The investment is being funded entirely from the Group's existing cash resources. Each Unit consists of one common share of the Company (a \"Share\") and one half of one transferable share purchase warrant (each whole, a \"Warrant\"). Each Warrant is exercisable at C$0.50 for two years (April 25, 2025) from the date of closing. The Warrants have an acceleration clause. If the closing price of the Shares on the TSX Venture Exchange (the \"TSXV\") or such other stock exchange as Luca is listed on exceeds CAD $0.90 for 15 consecutive trading days, Luca will earn the right, providing notice to the warrant holders to accelerate the Expiry Date of the Warrants to 16:00 (Vancouver time) on the 30th day from the date of the acceleration notice. If the Company provides acceleration notice, all Warrants that are not exercised by the accelerated expiry date will expire. All securities issued in connection with this placing are subject to a four month plus one day hold period under appli...