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NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
VANCOUVER, British Columbia, Oct. 29, 2024 (GLOBE NEWSWIRE) — Lupaka Gold Corp. (“Lupaka Gold” or the “Firm“) (TSX-V: LPK, FRA: LQP) broadcasts that the Firm has closed the non-brokered personal placement (the “Closing”) beforehand introduced on October 8, 2024 (the “Placement”).
On the Closing, the Firm issued 1,500,000 models at a worth of $0.05 per unit for gross proceeds of $75,000. Every unit consists of 1 frequent share (“Share”) and one transferable frequent share buy warrant (“Warrant Share”) entitling the holder to buy a further frequent share of the Firm at a worth of $0.10 for a interval of three years from the Closing (a “Unit”). All Shares issued and Warrant Shares (if exercised previous to March 2, 2025) are topic to a maintain interval expiring 4 months plus in the future from the Closing in accordance with relevant securities legal guidelines. Closing of the Placement is topic to receipt of ultimate relevant regulatory approvals together with approval of the TSX Enterprise Change.
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Gordon Ellis, President and CEO of the Firm acquired 200,000 Items of the Placement. His participation is taken into account to be a “associated social gathering transaction” as outlined below Multilateral Instrument 61-101 Safety of Minority Safety Holders in Particular Transactions. The transaction is exempt from the formal valuation and minority shareholder approval necessities of MI61-101 as neither the truthful market worth of the Items issued to Mr. Ellis, or the consideration paid, exceeded 25% of the Firm’s market capitalization. No finders’ charges have been paid, and the proceeds of the Placement will probably be used to fund property analysis and basic working capital.
This information launch doesn’t represent a proposal to promote or a solicitation of a proposal to purchase any of the securities in the USA. The Securities haven’t been and won’t be registered below the USA Securities Act of 1933, as amended, or any state securities legal guidelines and is probably not supplied or bought inside the USA or to U.S. Individuals until an exemption from such registration is out there.
Neither the TSX Enterprise Change nor its Regulation Service Supplier (because the time period is outlined within the insurance policies of the TSX Enterprise Change) accepts duty for the adequacy of this information launch.
About Lupaka Gold
Lupaka is an lively Canadian-based firm targeted on creating shareholder worth by means of identification and improvement of mining belongings.
FOR FURTHER INFORMATION PLEASE CONTACT:
Gordon Ellis, C.E.O.
gellis@lupakagold.com
Tel: (604) 985-3147
or go to the Firm’s profile at www.sedar.com or its web site at www.lupakagold.com
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