Proceeds will be used to start production at the Invicta Gold Project
By Devika Patel
Knoxville, Tenn., Aug. 7 – Lupaka Gold Corp. said it completed a C$1.61 million non-brokered private placement of units.
The company sold 8.05 million units of one common share and one warrant at C$0.20 per unit.
Each warrant will be exercisable at C$0.30 for three years. The strike price represents a 57.9% premium to the C$0.19 closing share price on Aug. 6.
Proceeds will be used for initial capital and mine development to start production at the Invicta Gold Project.
The gold explorer is based in Vancouver, B.C.
| Issuer: | Lupaka Gold Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1.61 million
|
| Units: | 8.05 million
|
| Price: | C$0.20
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | C$0.30
|
| Agent: | Non-brokered
|
| Settlement date: | Aug. 7
|
| Stock symbol: | Toronto: LPK
|
| Stock price: | C$0.19 at close Aug. 6
|
| Market capitalization: | C$16.48 million
|
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