Lumina Gold Announces Conversion of Ross Beaty Credit Facility to Common Shares

Rhea-AI Summary

Lumina Gold Corp. announces the conversion of Ross Beaty's debt to common shares, resulting in him owning 27.7% of the company.

Positive

• Ross Beaty converts C$15.3 million of debt to common shares at C$0.42 per share
• Beaty now owns 36,484,604 common shares of Lumina Gold Corp.

Negative

• None.

VANCOUVER, BC, Oct. 27, 2023 /PRNewswire/ - Lumina Gold Corp. (TSXV: LUM) (OTCQB: LMGDF) (the "Company" or "Lumina") is pleased to announce that Ross Beaty has converted C$15.3 million of outstanding debt to common shares at a price of C$0.42 per share pursuant to an amended and restated credit agreement dated December 13, 2022 (see December 15, 2022 news release for more details). As a result of this conversion, Ross Beaty has been issued 36,484,604 common shares of Lumina, bringing his ownership in the Company to 27.7%.

About Lumina Gold

Lumina Gold Corp. (TSXV: LUM) is a Vancouver, Canada based precious and base metals exploration and development company focused on the Cangrejos Gold-Copper Project located in El Oro Province, southwest Ecuador. In 2023, the Company completed a Pre-Feasibility Study for Cangrejos, 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.

View original content:https://www.prnewswire.com/news-releases/lumina-gold-announces-conversion-of-ross-beaty-credit-facility-to-common-shares-301968896.html

SOURCE Lumina Gold Corp.

FAQ

What is the conversion price of Ross Beaty's debt to common shares?

The conversion price is C$0.42 per share.

How many common shares does Ross Beaty now own?

Ross Beaty now owns 36,484,604 common shares of Lumina Gold Corp.

What is the ownership percentage of Ross Beaty in Lumina Gold Corp.?

Ross Beaty now owns 27.7% of Lumina Gold Corp.