Lupaka Gold Corp. announced a non-brokered private placement of up to 850,000 units at a price of CAD 0.06 per unit for the gross proceeds of up to CAD 51,000 on October 18, 2023. Each unit consists of one common share of the Company and one common share purchase warrant.

Each warrant entitles the holder to purchase one additional common share of the company at a price of CAD 0.10 for a period of three years from closing. No insiders of the company are participating in the placement and no finders? fees are expected to be paid.

The transaction is subject to receipt of final applicable regulatory approvals including approval of the TSX Venture Exchange. The shares and warrants issued in the placement are subject to a four-month hold period.