Lux Metals investor OVI Mining acquires 15.12M shares

Executive Summary

• OVI Mining Corp. acquired a 19.9% stake in Lux Metals Corp. through the exercise of an option to acquire a 100% interest in the La Grande project.
• The transaction involved the acquisition of 15,125,477 common shares at a deemed price of $0.20 per share.
• This acquisition triggers an early warning report filing with Canadian securities regulatory authorities, as OVI’s ownership exceeds the 10% threshold.

Key Details

• Acquirer: OVI Mining Corp. (formerly La Pulga Mining Corp.).
• Target: Lux Metals Corp.
• Transaction Structure: Acquisition of common shares via the exercise of an option agreement entered into on November 10, 2025, allowing Lux to acquire a 100% interest in the La Grande project.
• Shares Acquired: 15,125,477 common shares.
• Price: Deemed price of $0.20 per common share.
• Total Consideration: Approximately $3,025,095.40 (15,125,477 shares × $0.20).
• Ownership Post-Transaction: OVI owns 15,125,477 shares, representing approximately 19.9% of the issued and outstanding common shares of Lux on a non-diluted basis.
• Pre-Transaction Status: OVI did not own or control any common shares or other securities of Lux immediately prior to the transaction.
• Regulatory Filing: An early warning report will be filed with applicable Canadian securities regulatory authorities and available on SEDAR+ under Lux's issuer profile.
• Future Intent: OVI may acquire additional common shares, equity, debt, or other securities of Lux in the open market or otherwise, or dispose of such securities, depending on market conditions and business prospects.
• Contact Information: Jean-Felix Lepage, OVI Mining (438-454-5636, [email protected]).

Notable Quotes

• "The securities were acquired by OVI in the context of the business transaction contemplated by the option agreement and for investment purposes."