Lumina Gold Closes C$9.0 Million Private Placement Led by Ross J. Beaty
December 18 2019 - 5:00PM
Lumina Gold Corp. (TSXV: LUM) (OTCQX:
LMGDF) (the “Company” or “Lumina”) is pleased to announce
that it has closed its previously announced non-brokered private
placement (please refer to the Company’s December 2, 2019 and
December 6, 2019 press releases). A total of 18,004,000 common
shares (the “Shares”) were sold at a price of C$0.50 per Share for
aggregate gross proceeds of approximately C$9.0 million (the
“Offering”). Ross J. Beaty has subscribed for 9,690,000 Shares,
taking his ownership in Lumina from 17.95% to 19.90% on a
non-diluted basis.
The net proceeds of the Offering will be used to
fund study work at the Cangrejos Project and for general corporate
purposes.
The Shares issued in the Offering are subject to
a statutory four month and a day hold period that will expire on
April 19, 2020. In connection with the Offering, finders’ fees of
4% were paid on the proceeds from certain subscribers to Haywood
Securities Inc., Trimark Capital, First Globe Capital International
Inc., Echelon Wealth Partners Inc. and Canaccord Genuity Corp.
The securities to be offered pursuant to the
Offering have not been, and will not be, registered under the U.S.
Securities Act of 1933, as amended (the “U.S. Securities Act”) or
any U.S. state securities laws, and may not be offered or sold in
the United States absent registration under the U.S. Securities Act
and all applicable U.S. state securities laws or compliance with
the requirements of exemptions therefrom. 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. (TSXV: LUM) 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.
Further details are available on the Company’s
website at https://luminagold.com/
Please click here and subscribe to receive
future news releases: https://luminagold.com/contact
LUMINA GOLD
CORP. |
|
|
For further information contact: |
Signed: “Marshall
Koval” |
Scott Hicks |
|
shicks@luminagold.com |
Marshall Koval,
President & CEO, Director |
T: +1 604 646 1890 |
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 news release
Cautionary Note Regarding
Forward-Looking Information
Certain statements and information herein,
including all statements that are not historical facts, contain
forward-looking statements and forward-looking information within
the meaning of applicable securities laws. Such forward-looking
statements or information include but are not limited to statements
or information with respect to use of proceeds from the Offering.
Often, but not always, forward-looking statements or information
can be identified by the use of words such as “will” or variations
of that word.
With respect to forward-looking statements and
information contained herein, the Company has made numerous
assumptions including among other things, assumptions about general
business and economic conditions, the prices of gold and copper,
and anticipated costs and expenditures. The foregoing list of
assumptions is not exhaustive.
Although management of the Company believes that
the assumptions made and the expectations represented by such
statements or information are reasonable, there can be no assurance
that a forward-looking statement or information herein will prove
to be accurate. Forward-looking statements and information by their
nature are based on assumptions and involve known and unknown
risks, uncertainties and other factors which may cause the
Company’s actual results, performance or achievements, or industry
results, to be materially different from any future results,
performance or achievements expressed or implied by such
forward-looking statements or information. These factors include,
but are not limited to: risks associated with the business of the
Company; business and economic conditions in the mining industry
generally; the supply and demand for labour and other project
inputs; changes in commodity prices; changes in interest and
currency exchange rates; risks relating to inaccurate geological
and engineering assumptions (including with respect to the tonnage,
grade and recoverability of reserves and resources); risks relating
to unanticipated operational difficulties (including failure of
equipment or processes to operate in accordance with specifications
or expectations, cost escalation, unavailability of materials and
equipment, government action or delays in the receipt of government
approvals, industrial disturbances or other job action, and
unanticipated events related to health, safety and environmental
matters); risks relating to adverse weather conditions; political
risk and social unrest; changes in general economic conditions or
conditions in the financial markets; changes in laws (including
regulations respecting mining concessions); and other risk factors
as detailed from time to time in the Company’s continuous
disclosure documents filed with Canadian securities administrators.
The Company does not undertake to update any forward-looking
information, except in accordance with applicable securities
laws.
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