Lumina Gold Closes US$20 Million Convertible Debt Private Placement

Rhea-AI Summary

Lumina Gold Corp (OTCQB: LMGDF) has successfully completed a private placement of US$20 million in unsecured convertible notes. The notes carry a 6.0% annual interest rate and are subject to a four-month hold period ending September 7, 2025, in compliance with Canadian securities regulations. The company highlighted that no securities were issued as bonuses, finder's fees, or commissions in connection with this private placement.

Positive

• Raised US$20 million in additional capital through convertible notes
• No additional fees or commissions were paid for the placement

Negative

• Potential future dilution for shareholders upon note conversion
• Added debt with 6.0% interest expense to the balance sheet

VANCOUVER, BC, May 6, 2025 /PRNewswire/ - Lumina Gold Corp. (TSXV: LUM) (OTCQB: LMGDF) (the "Company" or "Lumina") is pleased to announce that, further to its news release dated April 21, 2025, it has closed the private placement (the "Private Placement") issuance of an aggregate principal amount of US$20 million unsecured convertible notes (the "Notes") bearing interest at a rate of 6.0% per annum.

The Notes and any securities issuable upon conversion are subject to a four month hold period expiring on September 7, 2025 in accordance with applicable Canadian securities laws. No securities have or will be issued as bonuses, finder's fees or commissions in connection with the Private Placement.

About Lumina Gold

Lumina Gold Corp. (TSXV: LUM) is a Vancouver, Canada based exploration company focused on the Cangrejos project located in El Oro Province, southwest Ecuador. In 2023, the Company completed a Pre-Feasibility Study for the Project, which is the largest primary gold deposit in Ecuador. Lumina has an experienced management team with a successful track record of advancing and monetizing exploration projects.

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Further details are available on the Company's website at https://luminagold.com. To receive future news releases please sign up at https://luminagold.com/contact.

LUMINA GOLD CORP.

Signed: "Marshall Koval"

Marshall Koval, President & CEO, Director

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

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SOURCE Lumina Gold Corp.

FAQ

What is the size and interest rate of LMGDF's convertible note placement?

Lumina Gold's convertible note placement is US$20 million with a 6.0% annual interest rate.

When does the hold period for LMGDF's convertible notes expire?

The hold period for Lumina Gold's convertible notes expires on September 7, 2025.

Did Lumina Gold pay any finder's fees for the US$20M private placement?

No, Lumina Gold did not issue any securities as bonuses, finder's fees, or commissions for the private placement.

What type of securities did LMGDF issue in the May 2025 private placement?

Lumina Gold issued unsecured convertible notes in the private placement.