VANCOUVER, BC /ACCESSWIRE/January 24, 2022/Lucky Minerals Inc. (TSXV:LKY)(OTC ROSE:LKMNF)(FRA:LKY)Fortunate“or the”Society“). Further to the press release dated January 6, 2022, Lucky is pleased to announce that it has closed a non-brokered private placement (the “Offering”) consisting of 22,353,278 units of the Company (the “Units“) at a price of C$0.09 per Unit for gross proceeds of C$2,011,795.02. Each Unit consists of one common share (“Ordinary share“) of the Company and a transferable common share purchase warrant (“To guarantee“). Each warrant may be exercised to acquire one ordinary share of the Company (“Ordinary share“) at a price of C$0.20 per common share for a period of 24 months from the date of issue of the warrant.

In connection with the offering, the Company paid a cash finder’s fee of C$35,000 and issued 388,888 non-transferable warrants (the “Indemnification mandates“). Each compensation warrant is exercisable into one common share at a price of $0.15 per share until January 24, 2023.

Net proceeds from the offering will be used to complete a 3,000 meter drilling program on the Company’s Fortuna project in Ecuador and for general working capital purposes.

As part of the Offering, Lance Hubbard has subscribed for a total of 14,325,555 Units. Accordingly, the Private Placement is a related party transaction (as such term is defined in NI 61-101 Protection of holders of minority securities in special transactions) (“MI 61-101“)). The Company relied on the exemptions from the valuation and minority shareholder approval requirements of NI 61-101 contained in Sections 5.5(a) and 5.7(1)(a), respectively, in with respect to the issuance of the Insider Units.

All of the Common Shares, Warrants and Compensation Warrants issued in connection with the Offering are subject to a statutory hold period expiring four months and one day from the date of issue.

About Lucky

Lucky is an exploration and development company targeting large-scale mining systems in proven districts with the potential to host world-class deposits. Lucky holds a 100% interest in the Fortuna property.

The Company’s Fortuna Project comprises twelve contiguous 550 km projects2 (55,000 hectares or 136,000 acres) exploration claims. Fortuna is located in a highly prospective, yet underexplored gold belt in southern Ecuador.

Covid-19 Safety Protocols

Lucky has strict rules in place for all workers entering and leaving the grounds. All staff are tested on arrival and departure and are tested every two weeks. All staff are following COVID protocols with permanent disinfection procedures in place and following corresponding social distancing while isolated from surrounding communities.

Further information about Lucky can be found on the Company’s website at www.luckyminerals.com and at www.sedar.com, or by contacting François Perron, President and Chief Executive Officer, by email at [email protected] .com or by phone at (866) 924 6484.

Or by contacting:

Renmark Financial Communications Inc.

Daniel Gordon: [email protected]

Tel: (416) 644-2020 or (212) 812-7680

www.renmarkfinancial.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Caution Regarding Adjacent Properties and Forward-Looking Information

This press release contains forward-looking statements relating to the Company’s future operations and other statements that are not historical facts. Forward-looking statements are often identified by words such as “will”, “may”, “should”, “anticipate”, “expect” and similar expressions. All statements, other than statements of historical facts, included in this release, including, without limitation, statements regarding the future plans and objectives of the Company are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. These factors include, but are not limited to: exploration and development uncertainties; the ability to raise sufficient capital to fund exploration and development; changes in economic or financial market conditions; increases in input costs; litigation, legislative, environmental and other legal, regulatory, political and competitive developments; technological or operational difficulties or inability to obtain permits encountered in connection with exploration activities; and labor relations. This list is not exhaustive of the factors likely to affect the Company’s forward-looking information. Important factors that could cause actual results to differ materially from the Company’s expectations also include the risks detailed from time to time in the Company’s filings with securities regulatory authorities.

Readers are cautioned that the assumptions used in preparing any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those anticipated due to numerous known and unknown risks, uncertainties and other factors, many of which are beyond the Company’s control. Readers are cautioned not to place undue reliance on forward-looking information. Such information, although considered reasonable by management when prepared, may prove to be incorrect and actual results may differ materially from those anticipated. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement. The forward-looking statements contained in this press release are made as of the date of this press release and the Company will not publicly update or revise any of the forward-looking statements included, except as required by Canadian securities law.

THE SOURCE: Lucky Minerals Inc.

See the source version on accesswire.com:

https://www.accesswire.com/685278/Lucky-Announces-Closing-of-Non-Brokered-Private-Placement-for-CDN2011795