Lupaka Completes Non-Brokered Private Placement
Lupaka Completes Non-Brokered Private Placement
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES
VANCOUVER, BRITISH COLUMBIA, OCTOBER 29, 2024 – Lupaka Gold Corp.
("Lupaka Gold" or the “ Company") (TSX -V: LPK, FRA: LQP) announces that the
Company has closed the non- brokered private placement (the “ Closing”) previously
announced on October 8, 2024 (the “Placement”).
At the Closing, the Company issued 1,500,000 units at a price of $0.05 per unit for gross
proceeds of $7 5,000. Each unit consists of one common share (“Share”) and one
transferable common share purchase warrant (“Warrant Share”) entitling the holder to
purchase an additional common share of the Company at a price of $0.10 for a period of
three years from the Closing (a “Unit”). All Shares issued and Warrant Shares (if exercised
prior to March 2, 2025) are subject to a hold period expiring four months plus one day
from the Closing in accordance with applicable securities laws. Closing of the Placement
is subject to receipt of final applicable regulatory approvals including approval of the TSX
Venture Exchange.
Gordon Ellis, President and CEO of the Company acquired 200,000 Units of the
Placement. His participation is considered to be a “related party transaction” as defined
under Multilateral Instrument 61- 101 Protection of Minority Security Holders in Special
Transactions. The transaction is exempt from the formal valuation and minority
shareholder approval requirements of MI61- 101 as neither the fair market value of the
Units issued to Mr. Ellis, or the consideration paid, exceeded 25% of the Company’s
market capitalization. No finders’ fees were paid, and the proceeds of the Placement will
be used to fund property research and general working capital.
This news release does not constitute an offer to sell or a solicitation of an offer to
buy any of the securities in the United States. The Securities have not been and
will not be registered under the United States Securities Act of 1933, as amended,
or any state securities laws and may not be offered or sold within the United States
or to U.S. Persons unless an exemption from such registration is available.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as the term
is defined in the policies of the TSX Venture Exchange) accepts responsibility for
the adequacy of this news release.
About Lupaka Gold
Lupaka is an active Canadian- based company focused on creating shareholder value
through identification and development of mining assets.
FOR FURTHER INFORMATION PLEASE CONTACT:
Gordon Ellis, C.E.O.
Tel: (604) 985-3147
or visit the Company’s profile at www.sedar.com or its website at www.lupakagold.com