Lucky Minerals Inc. announced a non-brokered private placement of 12,500,000 units at a price of CAD 0.056 for gross proceeds of CAD 700,000 on January 25, 2023. The transaction will include participation from individual investor Michael Gentile, who will maintain his share position 19.9% stake. Each unit consists of one common share and one full three-year transferable common share purchase warrant.

Each warrant entitles the holder thereof to acquire on additional share at a price of CAD 0.10 per share, until the date that is 36 months from the closing. All securities issued in the transaction are subject to a statutory hold period expiring four months and one day from the date of issuance. The company may pay finders' fees on a portion of the transaction in accordance with applicable securities laws and the policies of the TSX Venture Exchange.

The transaction is subject to approval from TSX Venture Exchange.