The Prospector News

Lumina Gold Announces Closing of C$20 Million Financing

You have opened a direct link to the current edition PDF

Open PDF Close

Share this news article

Lumina Gold Announces Closing of C$20 Million Financing






Lumina Gold Corp. (TSXV: LUM) (OTC: LMGDF) is pleased to announce that it has completed its previously announced short form prospectus offering and concurrent private placement consisting of a total of 35.72 million Lumina common shares, at a price of C$0.56 per Share, for gross proceeds of C$20.0 million. The Offering was made through a syndicate of agents, led by Haywood Securities Inc., and including Raymond James Ltd., BMO Capital Markets, RBC Capital Markets and PI Financial Corp.


The Company plans to use the net proceeds from the Offering and the Private Placement to fund infill, step-out, geotechnical, hydrology and metallurgical drilling; environmental, permitting and social programs; updating the resource estimate for the Company’s Cangrejos Gold-Copper project; and for working capital and general and administrative expenses.


The Offering was completed by way of a short form prospectus filed in the provinces of British Columbia, Alberta, Manitoba and Ontario pursuant to National Instrument 44-101 Short Form Prospectus Distributions, and elsewhere on a private placement basis. The Shares purchased pursuant to the Private Placement are subject to a statutory four month and a day hold period that will expire on March 28, 2019. In connection with the Private Placement, finder’s fees of 4% were paid on the proceeds from certain subscribers to Trimark Capital.


As part of the Private Placement, Ross J. Beaty, a significant shareholder, purchased 10,086,000 Shares. Following completion of the Offering and the Private Placement, Mr. Beaty now beneficially owns, directly or indirectly, or exercises control or direction over, an aggregate of 53,120,169 Shares, which represents approximately 17.16% of Lumina’s issued and outstanding common shares.


The securities offered pursuant to the Offering 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 applicable U.S. state securities laws, and may not be offered or sold in the United States absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.


About Lumina Gold


Lumina Gold Corp. is a Vancouver, Canada based precious and base metals exploration and development company focused on the Cangrejos Gold-Copper project located in El Oro Province, southwest Ecuador. Lumina has an experienced management team with a successful track record of advancing and monetizing exploration projects.


Posted November 27, 2018

Share this news article


Evergold Announces Closing of $1,242,000 Private Placement to Support First-Ever Drilling of High Potential DEM Porphyry Copper-Gold-Silver Prospect, BC

Evergold Corp. (TSX-V: EVER) (WKN: A2PTHZ) is pleased to announc... READ MORE

September 30, 2023

Lavras Gold closes upsized private placement

Lavras Gold Corp. (TSX-V: LGC) (OTCQB: LGCFF) has raised gross pr... READ MORE

September 30, 2023

First Phosphate Receives Letter of Interest in the Amount of up to US$170 Million from the Export-Import Bank of the United States (EXIM)

First Phosphate Corp. (CSE: PHOS) (OTC Pink: FRSPF) (FSE: KD0) is... READ MORE

September 30, 2023

New Pacific Metals Closes C$35 Million Bought Deal Financing

New Pacific Metals Corp. (TSX: NUAG) (NYSE American: NEWP) announ... READ MORE

September 30, 2023

Laramide intercepts broad-based uranium mineralization in initial holes from 2023 Australian exploration program

Laramide Resources Ltd. (TSX: LAM) (ASX: LAM) (OTCQX: LMRXF) is p... READ MORE

September 30, 2023

Copyright 2023 The Prospector News