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Luckystrike Closes Financing

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Luckystrike Closes Financing

 

 

 

 

 

Luckystrike Resources Ltd. (TSX-V:LUKY) is pleased to announce that, subject to TSX Venture Exchange acceptance, it has closed its financing for gross proceeds of $1,641,989.70.

 

On receipt of Exchange acceptance the Company will issue 4,918,299 $0.30 units  each Unit being comprised of 1 common share and 1 common share purchase warrant, each warrant entitling the holder to purchase an additional common share of the Company for $0.60 for a period of 36 months, and 416,250 $0.40 flow-through units, each FT Unit being comprised of 1 flow-through common share and 1 common share purchase warrant with each full warrant entitling the holder to purchase an additional non-flow-through common share of the Company for $0.80 for a period of 12 months.

 

Subject to Exchange acceptance the Company will be paying a cash finder’s fee of $56,516.36.

 

If, at any time four months after the date of completion of the offering, the company’s shares have a closing price equal to or higher than $1.20 per share for 10 consecutive trading days on the Exchange (as defined herein), the company shall thereafter be entitled to give notice to the holders of all $0.60 warrants, by news release, that such warrants will expire at 4:30 p.m. ET on that date which is 30 days after the date of such news release, unless exercised before the expiry of that period. If, at any time after four months after the date of completion of the offering, the company’s shares have a closing price equal to or higher than $1.60 per share for 10 consecutive trading days on the Exchange(as defined herein), the company shall thereafter be entitled to give notice to the holders of all $0.80 warrants, by news release, that such warrants will expire at 4:30 p.m. ET on that date which is 30 days after the date of such news release, unless exercised before the expiry of that period.

 

All securities issued pursuant to the offering (including shares issued to finders), as well as any shares issued pursuant to the exercise of warrants, will be subject to a four-month hold period from the closing date.

 

Posted December 17, 2019

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