Lucky Announces Shares For Debt Transaction

Core Viewpoint - Lucky Minerals Inc. is addressing a failure-to-file cease trade order (FFCTO) issued by the British Columbia Securities Commission due to the late submission of its annual financial statements for the fiscal year ended October 31, 2024, which were filed on October 2, 2025 [1] Group 1: Financial Situation - The company plans to settle outstanding indebtedness amounting to $1,969,391.05 through the issuance of 19,693,908 common shares at a deemed price of $0.10 per share [2] - A significant portion of the debt, totaling $1,600,293.33, consists of principal and interest for convertible debentures [2] Group 2: Related Party Transactions - Directors and officers, including Pan Ocean Consulting Ltd., will convert approximately $190,000 of their outstanding fees into about 1,900,000 common shares as part of the debt settlement [3] - The issuance of common shares to directors and officers is classified as a "related party transaction" under Multilateral Instrument 61-101, with the company relying on exemptions from certain requirements [5] Group 3: Regulatory Approval - The transaction is contingent upon approval from the TSX Venture Exchange and the revocation of the FFCTO [6]