Lucky Minerals Inc.
TSX VENTURE : LJ

November 02, 2017 15:21 ET

Lucky Minerals Inc. Enters Into A Bought Deal Agreement for Gross Proceeds of C$2,500,035

TORONTO, ONTARIO--(Marketwired - Nov. 2, 2017) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.

Lucky Minerals Inc. (TSX VENTURE:LJ) (the "Company") has today entered into an agreement with Clarus Securities Inc., on behalf of a syndicate of underwriters (collectively, the "Underwriters"), pursuant to which Clarus Securities has agreed to purchase, on a bought deal basis, 16,666,900 units (the "Units") of the Company at a price of C$0.15 per Unit (the "Offering Price") for aggregate gross proceeds to the Company of C$2,500,035 (the "Offering"). Each Unit will be comprised of one common share of the Company (a "Unit Share") and one common share purchase warrant (each common share purchase warrant, a "Warrant"). Each Warrant will entitle the holder thereof to purchase one common share of the Company (a "Warrant Share") at a price of C$0.20 for a period of 36 months following the Closing Date (as defined below).

The Company has also agreed to grant the Underwriters an over-allotment option to purchase an additional 2,500,035 Units at the Offering Price, exercisable in whole or in part, for a period ending 30 days from and including the Closing Date. In the event the over-allotment option is exercised in full, the aggregate gross proceeds of the Offering will be C$2,875,040.

The Units will be offered in each of the provinces and territories of Canada other than the Province of Quebec by short form prospectus, and in those jurisdictions outside of Canada and the United States which are agreed to by the Company and the Underwriters, where the Units can be issued on a private placement basis, exempt from any prospectus, registration or other similar requirements.

The Offering is expected to close on or about November 23, 2017 (the "Closing Date") and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange.

The Company intends to use the net proceeds from the Offering for working capital and general corporate purposes.

In connection with the Offering, PowerOne Capital Markets Limited has been appointed as a special advisor to the Company.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities of Lucky Minerals Inc. in the United States, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities offered have not been and will not be registered under the U.S. Securities Act or any U.S. state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or unless an exemption from such registration is available.

About Lucky Minerals

Lucky Minerals is a venture stage exploration company that is targeting a large-scale porphyry copper-gold-molybdenum system in southern Montana that could potentially host a multi-million ounce gold deposit. The company is focused on its Emigrant Creek Project, which covers a 15 square kilometer area (6 square miles) located in the core of the mineralized and intensely altered Emigrant Mining District. To date, ten highly mineralized breccia-pipes and two porphyry targets exist within the company's property boundary. These targets have been variously explored by drilling, induced polarization geophysical surveys, rock chip sampling and geologic & alteration mapping. The company's properties are comprised of nine patented claims and eight unpatented claims, with an additional 117 claims staked, covering a total area of approximately 1,035 hectares (2,560 acres). Lucky Minerals resumed exploration in July, 2017 and has slated numerous activities to commence over the summer and into the fall, including further diamond drilling, geophysical work, geological mapping and ongoing sampling. Additional information relating to the Company is also available on SEDAR at www.sedar.com.

Forward-looking Statements

This press release contains certain forward-looking statements within the meaning of applicable securities laws, including statements regarding the Offering. Words such as "expects", "anticipates" and "intends" or similar expressions are intended to identify forward-looking statements. These forward-looking statements are based on Lucky Minerals Media's current projections and expectations about future events and other factors management believes are appropriate. Although Lucky Minerals Media believes that the assumptions underlying these forward-looking statements are reasonable, they may prove to be incorrect, and readers cannot be assured that the Offering and the closing thereof will be consistent with these forward-looking statements. Actual results could differ materially from those projected in the forward-looking statements as a result of numerous factors, including certain risk factors, many of which are beyond Lucky Minerals Media's control. Additional risks and uncertainties regarding Lucky Minerals Media are described in its publicly-available disclosure documents, filed by Lucky Minerals Media on SEDAR (www.sedar.com) except as updated herein. The forward-looking statements contained in this news release represent Lucky Minerals' expectations as of the date of this news release, or as of the date they are otherwise stated to be made, and subsequent events may cause these expectations to change. Lucky Minerals undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.

Neither the TSX Venture Exchange (the "Exchange") nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.

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