/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES/
TSX-V SYMBOL: LKY
www.luckystrikeresources.com
VANCOUVER,
April 27, 2012 /PRNewswire/ - Lucky
Strike Resources Ltd. (TSXV - LKY), (the "Company") is pleased to
announce the completion of its previously announced non-brokered
private placement (the "Offering") for gross proceeds of
$559,920 though the issuance of
1,636,000 flow-through units (each a "FT Unit") and 1,000,000
non-flow-through units (each a "NFT Unit") at a purchase price of
$0.22 per FT Unit and $0.20 per NFT Unit. Each FT Unit
consists of one common share (a "FT Share") in the capital of the
Company, issued on a flow-through basis under the Income Tax
Act (Canada), and one-half of
one non-flow-through common share purchase warrant (each whole
warrant, a "FT Warrant"). Each FT Warrant is exercisable to
acquire one non-flow-through common share (a "FT Warrant Share") in
the capital of the Company, at an exercise price of $0.30 per FT Warrant Share until April 26, 2014, subject to an accelerated
expiry date as set out below. Each NFT Unit consists of one
non-flow-through common share (a "NFT Share") in the capital of the
Company and one non-flow-through common share purchase warrant (a
"NFT Warrant"). Each NFT Warrant is exercisable to acquire
one non-flow-through common share (a "NFT Warrant Share") in the
capital of the Company at an exercise price of $0.30 per NFT Warrant Share until April 26, 2014, subject to an accelerated
expiry date as set out below.
In the event that at any time the closing price
of the issued and outstanding common shares of the Company on the
TSX Venture Exchange is greater than or equal to $0.50 for a period of 15 consecutive trading
days, the Company may, at its option, accelerate the expiry date of
the FT Warrants and the NFT Warrants by giving notice to the
holders thereof and in such case the FT Warrants and the NFT
Warrants will expire on the date which is the earlier of:
(i) the 30th day after the date on which such notice is given
by the Issuer; and (ii) the original expiry date.
In connection with the Offering, the Company
paid to an arm's length finder a finder's fee in cash of
$35,600 and issued to the finder an
aggregate of 207,500 non-transferable common share purchase
warrants that entitle the finder to purchase up to 207,500 common
shares in the capital of the Company at a purchase price of
$0.30 per share at any time until
April 26, 2014, subject to an
accelerated expiry date as set out above, in consideration for
their services provided to the Company in connection with the
Offering.
All securities issued in connection with the
Offering are subject to a hold period expiring on August 27, 2012.
The net proceeds from the Offering will be used
for the exploration of the Grizzly and Aspen properties and for general working
capital purposes.
ON BEHALF OF LUCKY STRIKE RESOURCES LTD.
"Cathy Fong"
Cathy Fong, P.Eng,
Chairman
This news release does not constitute an offer to sell or a
solicitation of an offer to buy any of the securities in
the United States. The securities
have not been and will not be registered under the United States
Securities Act of 1933, as amended (the "U.S. Securities Act") or
any state securities laws and may not be offered or sold within
the United States or to U.S.
Persons as defined under applicable securities laws unless
registered under the U.S. Securities Act and applicable state
securities laws or an exemption from such registration is
available.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
___________________________________________________________________________________________________________
This news release may contain certain "Forward-Looking
Statements" within the meaning of Section 21E of the United States
Securities Exchange Act of 1934, as amended. All statements, other
than statements of historical fact, included herein are
forward-looking statements that involve various risks and
uncertainties. There can be no assurance that such statements will
prove to be accurate, and actual results and future events could
differ materially from those anticipated in such statements.
Important factors that could cause actual results to differ
materially from the Company's expectations are disclosed in the
Company's documents filed from time to time with the TSX Venture
Exchange, the British Columbia Securities Commission and the US
Securities and Exchange Commission.
SOURCE Lucky Strike Resources Ltd.