Lupaka GOLD Announces Extension of Bridge Loan Financing
LUPAKA GOLD ANNOUNCES EXTENSION OF BRIDGE LOAN FINANCING
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES
VANCOUVER, BRITISH COLUMBIA, May 4, 2018 - Lupaka Gold Corp ("Lupaka Gold " or the
“Company") (TSXV:LPK, FRA:LQP) announces that it has extended the Bridge Loan Financing (the
“Loan”) previously announced on June 30, 2017, with a group of third-party individuals and
Gordon Ellis (Chairman and Director) and Stephen Silbernagel (Director), who are Insiders of the
Company (collectively, the “Lenders”), pursuant to which the Company has requested to extend
the borrowed amount of C$600,000 (the “Loan”) to June 30, 2019.
The Loan is unsecured and will continue to bear simple interest at the rate of twelve percent (12%)
per annum. The Loan and accrued and unpaid interest shall be repaid in full on or before June 30,
2019, unless paid earlier by the Company.
Pursuant to TSXV Policy 5.1, a total of 4,000,000 warrants expiring June 30, 2018 (issued in
connection with the closing of the Bridge Loan Financing on June 30, 2017 ), are immediately
terminated, and t he Company will issue a total of 3,333,333 new non-transferrable warrants
(subject to TSXV approval), to the Lenders , such number being equal to the amount of the Loan
divided by $0. 18. Each warrant will entitle the holder to purchase one common share of the
Company at a price of C$0.18 per share up to June 30, 2019. The warrants and any shares issued
pursuant to the exercise of the warrants will be subject to a statutory hold period under Canadian
securities laws expiring four months and a day after the closing date.
Gordon Ellis and Stephen Silbernagel are directors of the Company and their participation in the
Loan is considered to be a "related party transaction" as defined under Multilateral Instrument
61-101 (" MI 61-101”). The transaction will be exempt from the formal valuation and minority
shareholder approval requirements of MI 61 -101 as neither the fair market value of the subject
matter of, nor the fair market value of the consideration for, the transaction, insofar as it involves
such persons, will exceed 25% of the Company's market capitalization.
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.
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Darryl F. Jones, C.F.O.
Tel: (604) 681-5900
or visit the Company’s profile at www.sedar.com or its website at www.lupakagold.com