Workflow
LUCA COMPLETES FINANCINGS FOR COMBINED PROCEEDS OF C$11.3M
LIFEaTyr Pharma(LIFE) Prnewswire·2024-09-26 16:58

Core Viewpoint - Luca Mining Corp. has successfully closed a fully subscribed brokered private placement and a concurrent non-brokered private placement, raising a total of C11,306,775forvariousoperationalpurposes[1][5].FinancingDetails−Thebrokeredprivateplacementresultedintheissuanceof19,000,000LIFEUnitsatC11,306,775 for various operational purposes [1][5]. Financing Details - The brokered private placement resulted in the issuance of 19,000,000 LIFE Units at C0.45 each, generating gross proceeds of C8,550,000[1]−Theconcurrentnon−brokeredprivateplacementinvolved6,126,167Non−LIFEUnitsatthesameprice,yieldinggrossproceedsofC8,550,000 [1] - The concurrent non-brokered private placement involved 6,126,167 Non-LIFE Units at the same price, yielding gross proceeds of C2,756,775 [1] - Each Unit consists of one common share and one-half of a common share purchase warrant, with warrants exercisable at C0.60untilMarch26,2026[2]AgentandCompensation−StifelactedastheleadagentfortheLIFEOffering,withasyndicateincludingHaywoodSecuritiesInc.,VentumFinancialCorp.,BMOCapitalMarkets,andCanaccordGenuityInc.[3]−Theagentsreceiveda60.60 until March 26, 2026 [2] Agent and Compensation - Stifel acted as the lead agent for the LIFE Offering, with a syndicate including Haywood Securities Inc., Ventum Financial Corp., BMO Capital Markets, and Canaccord Genuity Inc. [3] - The agents received a 6% cash commission on the gross proceeds and 1,140,000 compensation warrants, also exercisable at C0.45 until March 26, 2026 [3] Use of Proceeds - The net proceeds from the financings will be allocated to the Campo Morado Improvement Program, exploration drilling at Campo Morado and Tahuehueto, and commissioning of the Tahuehueto mill [5] Insider Participation - Two officers of the company participated in the concurrent private placement, acquiring a total of 1,030,000 Non-LIFE Units, which is classified as a related party transaction [6] Securities Regulations - The securities issued are subject to a statutory hold period until January 27, 2025, except for the LIFE Units which are not subject to such a hold period [4]