Lupaka GOLD Announces Second Bridge Loan Financing
LUPAKA GOLD ANNOUNCES SECOND BRIDGE LOAN FINANCING
VANCOUVER, BRITISH COLUMBIA, January 4, 2017 - Lupaka Gold Corp ("Lupaka Gold" or the
“Company") (TSX V:LPK, FRA:LQP) is pleased to announce t hat it has entered into loan
agreements with a group of third-party individuals and Gordon Ellis (CEO), a Company Insider
(collectively, the “Lenders”), pursuant to which the Company has agreed to borrow a total of
C$300,000 (the “Loan”).
The proceeds will be used for the advancement of the Company's mineral properties and for
general working capital purposes. The Loan is unsecured and will bear simple interest at the rate
of twelve percent (12%) per annum, calculated and payable semi -annually with the first interest
payment due on June 30, 2017 and each subsequent payment due each six months thereafter.
The Loan and accrued and unpaid interest shall be repaid in full on or before the date that is two
years after the Closing Date.
The Company has agreed to issue to the Lender s a total of 1,500,000 non-transferrable
warrants, such number being equal to the amount of the Loan divided by $0.20. Each warrant
will entitle the holder to purchase one common share of the Company at a price of C$0.20 per
share for a period of two years following the Closing Date. 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 aft er the Closing Date. The completion
of the Loan and issuance of the warrants is subject to the approval of the TSX Venture Exchange.
Gordon Ellis is a director and officer of the Company and his 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 v alue 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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Lupaka Gold Corp., Investor Relations at +1 (604) 681-5900, e-mail: [email protected] or visit the
Company’s website at www.lupakagold.com.