Insider Acquisition of Lucky Minerals
January 26, 2022 - Lance Hubbard ("Lance") announced that on January 24, 2022 he has, by way of a non-brokered private placement (the "Private Placement"), acquired 14,325,555 units ("Units") of Lucky Minerals Inc. ("Lucky", which has a head office at 1010 - 789 West Pender Street, Vancouver, British Columbia, V6C 1H2). Lance subscribed for 14,325,555 Units at a price of $0.09 per Unit, for an aggregate consideration of CAD$1,289,299.95, with each Unit consisting of one common share of Lucky and one transferable common share purchase warrant exercisable to purchase an additional common share of Lucky at a price of $0.20 per share until January 24, 2024. Immediately following the closing of the Private Placement, Lance had ownership or control, directly or indirectly, over an aggregate of 15,116,055 common shares of Lucky, representing approximately 10.18% of the number of common shares of Lucky then issued and outstanding, on a non-diluted basis, and approximately 18.08% of the number of common shares of Lucky then issued and outstanding on a partially-diluted basis (assuming only the exercise in full of the 14,325,555 common share purchase warrants of Lucky held by Lance). Prior to the closing of the Private Placement, Lance had ownership or control, directly or indirectly, over 790,500 common shares of Lucky, which 790,500 Common Shares are held jointly by Lance and Lance's wife, Elizabeth Hinojosa, representing approximately 0.63% of the number of common shares of Lucky then issued and outstanding, on a non-diluted basis, and approximately 0.63% of the number of common shares of Lucky then issued and outstanding on a partially-diluted basis.
Lance acquired the Units for investment purposes. Lance may, depending on market and other conditions, increase or decrease beneficial ownership or control in the securities of Lucky, or otherwise deal with such securities in such manner as deemed advisable through market transactions, private agreements or otherwise.
This news release is being issued in accordance with National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues.
For more information or to obtain a copy of the early warning report filed in respect of this press release, contact Lance Hubbard at 593(07) 249 0032 or e-mail at Hubbardlance80@gmail.com.
SOURCE: Lucky Minerals Inc.