Luca Mining Corp. announced a private placement of 15,572,143 units at issue price of CAD 0.35 per unit for gross proceeds of CAD 5,450,250.05 on April 28, 2023. The transaction included participation from new investors, Calu Opportunity Fund, LP for 9,857,143 units and Mineral & Financial Investments Limited for 5,715,000 units.

Each unit consists of one common share and one-half of common share purchase warrant. Each warrant can be exercised to purchase an additional common share of the company at an exercise price of CAD 0.50 per share for a period of 2 years i.e. April 25, 2025 from the closing of the transaction. The securities issued shall have a four month plus one day hold period from the closing of the transaction.