Lucky Minerals Inc. (TSXV: LKY, OTC: LKMNF, FRA: LKY) announced on October 28, 2026 that the TSX Venture Exchange has accepted its application to revoke a trading suspension, with common shares set for reinstatement shortly thereafter. Alongside the trading reinstatement, the Vancouver-based mineral exploration company closed a $3,050,000 non-brokered private placement, secured an option to acquire a 100% interest in the Prudhomme Project in Northern Quebec, settled over $2 million in outstanding debt via share issuances, and divested its Ecuadorian subsidiary. The combined transactions represent a significant restructuring effort for the company as it repositions around its Quebec copper exploration asset.

Key Points

  • Lucky Minerals Inc. (TSXV: LKY, OTC: LKMNF, FRA: LKY) — Vancouver-based mineral exploration and development company
  • TSX Venture Exchange approved revocation of trading suspension; common shares reinstated for trading
  • $3,050,000 non-brokered private placement closed; option secured on ~109-claim Prudhomme Project in Northern Quebec
  • Company plans to appoint an additional independent director at its annual meeting on December 15, 2026

Prudhomme Project Option Terms and Quebec Copper Exploration Commitments

The Prudhomme Project, located in the Municipality of Rivière-Koksoak in Northern Quebec, comprises approximately 109 mineral claims. Under the option agreement with Critical Mineral Properties Inc., Lucky Minerals has already issued 3,500,000 common shares and paid an aggregate $95,000 in cash to the vendor. To exercise the option in full, the company must commit a minimum of $4,000,000 in cumulative exploration and development expenditures over four years, with at least $1,500,000 to be incurred in the first two years. A 2.0% Gross Metal Royalty on all mineral production is retained by the vendor, with Lucky maintaining the right to purchase 1% of that royalty for $2,000,000.

Private Placement Structure and Proceeds Allocation

The $3,050,000 non-brokered private placement consisted of 4,550,000 flow-through shares at $0.10 per share and 25,950,000 units at $0.10 per unit, each unit comprising one common share and one warrant exercisable at $0.15 for five years. Finders received $191,100 in cash fees and 1,911,000 warrants. The company disclosed it intends to allocate proceeds as follows: $191,100 toward finder's fees, $1,620,000 toward general and administrative obligations, $600,000 toward exploration expenses, and the remainder for general working capital. All securities issued carry a statutory hold period expiring February 9, 2027.

Debt Settlement, Working Capital Position, and Goldmindex Divestiture

Lucky issued 20,504,975 common shares at a deemed price of $0.10 per share to settle $2,050,497.72 in outstanding debt. Concurrently, the company completed the sale of its Ecuadorian subsidiary, Goldmindex S.A., for US$800 cash consideration, while assuming a US$100,000 liability payable by promissory note due November 27, 2026. As at July 31, 2026, the company reported a working capital deficiency of $8,256,442. The company states it plans to eliminate this deficiency to positive working capital of at least $408,218 as a result of the Goldmindex write-off of $4,273,227.91, net private placement proceeds of $2,858,900, and the shares-for-debt settlement.