Lux Metals Upsizes Private Placement to $3,500,000

Executive Summary

• Lux Metals Corp. increased its private placement from up to 12.5 M to up to 17.5 M units due to strong investor demand.
• The placement is priced at $0.20 per unit, targeting gross proceeds of up to $3.5 million.
• Proceeds will be used for exploration expenses and general working capital; the units include common shares and one‑year warrants exercisable at $0.40.

Key Details

• Placement Size: Up to 17,500,000 Units (increase of 5,000,000 Units).
• Unit Composition: 1 common share + 1 transferrable warrant per unit.
• Pricing: $0.20 per Unit → total potential gross proceeds $3,500,000.
• Warrant Terms: Each warrant convertible into one additional share at $0.40 for two years from issue.
• Acceleration Clause: If the TSXV price reaches ≥ $0.60 for ten consecutive trading days, warrants may expire 30 calendar days after notice (subject to company discretion).
• Regulatory Holds: All securities subject to holds expiring four months and one day after issuance.
• Use of Proceeds: Exploration costs and general working capital.
• Finder’s Fees: May be paid in cash and/or non‑transferable warrants, consistent with TSXV policies.
• Closing: Anticipated “as soon as practicable” in one or more tranches pending regulatory approvals (including TSXV).

Notable Quotes

• “The strong investor demand reflects confidence in our exploration program and provides the capital needed to advance our projects,” – Carl Ginn, President & CEO.