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Lucky Minerals set for up to C$5M raise to advance Fortuna property

The company is set to sell up to 62.5 million units at C$0.08 each, it said in a statement

Lucky Minerals -
Each unit comprises one share and one share purchase warrant, which is exercisable into one share for two years from closing at a price of C$0.15 per warrant

Lucky Minerals Inc (CVE:LKY) (OTCMKTS:LKMNF) (FRA:LKY1) has announced a private placing to raise up to C$5 million gross to continue its exploration at the Fortuna property in southern Ecuador and for working capital. 

The company is set to sell up to 62.5 million units at C$0.08 each, it said in a statement. 

READ: Lucky Minerals finds three zones with bulk tonnage potential at Sherman prospect, Ecuador 

Each unit comprises one share and one share purchase warrant, which is exercisable into one share for two years from closing at a price of C$0.15 per warrant.

The Fortuna project is a royalty-free 550 square kilometers (sq km) exploration concession in a highly prospective, yet underexplored, gold belt in southern Ecuador.

Lucky has a deal on Fortuna with First Quantum Minerals Ltd (TSE:FM) (OTCMKTS:FQVLF) (FRA:IZ1), whereby First Quantum can earn up to 70% on primary copper targets.

The company also has the Emigrant Creek project, which covers a 15 sq km area in southern Montana, USA.

Contact the author at giles@proactiveinvestors.com

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Price: 0.075 CAD

TSX-V:LKY
Market: TSX-V
Market Cap: $5.76 m
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Lucky Minerals looks to move Fortuna Property forward announcing new financing

Lucky Minerals (CVE: LKY- OTC: LKMNF) CEO Francois Perron joined Steve Darling to bring news the company has announced a new financing with Lucky hoping to raise 5 million dollars. Perron talks about the raise and what this capital will be used for on their Fortuna Property in Ecuador.

on 14/1/21

2 min read