Lux Metals closes $3.75M first tranche of financing

Executive Summary

• Lux Metals Corp. closed the first tranche of its non‑brokered private placement, issuing 18.75 million units at $0.20 per unit for total gross proceeds of $3.75 million.
• Each unit includes one common share and one transferable warrant (exercisable at $0.40 per share until Jan. 26 2028).
• Proceeds are earmarked for exploration expenses and general working capital; the company also paid $119,840 in finder’s fees and issued 599,200 finder warrants.

Key Details

• Units Issued: 18,750,000 units @ $0.20 per unit → $3,750,000 gross proceeds.
• Unit Composition: 1 common share + 1 transferable share purchase warrant (exercisable at $0.40/share until 26 Jan 2028).
• Use of Proceeds: Funding exploration activities and general working capital requirements.
• Finder’s Fees Paid: $119,840.
• Finder Warrants Issued: 599,200 common share purchase warrants (exercisable at $0.40/share until 26 Jan 2028).
• Regulatory Holds: All securities issued are subject to regulatory holds expiring 27 May 2026.

Notable Quotes

(No executive quotes were provided in the release.)