Lux Metals Announces $2,500,000 Private Placement, Debt Settlement and Market Maker Agreement

Core Viewpoint - Lux Metals Corp. is undertaking a private placement to raise $2,500,000 through the issuance of 12,500,000 units at a price of $0.20 per unit, which will consist of common shares and warrants [1][2]. Group 1: Private Placement Details - The private placement will consist of 12,500,000 units priced at $0.20 each, aiming for total gross proceeds of $2,500,000 [1]. - Each unit includes one common share and one transferable share purchase warrant, with the warrants exercisable at $0.40 per share for two years [1]. - An "Acceleration Event" will trigger the expiration of the warrants if the shares trade at $0.60 or more for ten consecutive trading days [1]. Group 2: Use of Proceeds - The gross proceeds from the private placement will be allocated for exploration costs and general working capital [2]. Group 3: Debt Settlement - The company has agreed to settle $107,000 of debt by issuing 535,000 shares at a deemed price of $0.20 per share, subject to regulatory approval [4]. Group 4: Market Maker Agreement - Lux Metals has retained Venture Liquidity Providers Inc. to provide market-making services, with a fee of $5,000 per month for three months [5][6]. - The market-making service will be conducted through a registered broker, ensuring compliance with TSXV policies [6].