TSX-V: LCC
VANCOUVER,
Oct. 25, 2012 /CNW/ - Lumina
Copper Corp. (TSX Venture: LCC) (the "Company") is
pleased to announce that it has closed its previously announced
non-brokered private placement of common shares for gross proceeds
of C$23,750,000. The Company
issued a total of 2,500,000 common shares at a price of
C$9.50 per common share.
The proceeds from the placement will be used to
fund the Company's capital needs through late 2013, including
US$2.6 million to fund all remaining
costs to complete a Preliminary Economic Assessment on a mining and
milling operation at the Company's Taca
Taca project, $12.4 million to
repay loans outstanding to Lumina Capital Limited Partnership, and
the remainder for general corporate purposes.
LUMINA COPPER CORP
Signed: "David Strang"
David Strang, President &
CEO
CAUTION REGARDING FORWARD LOOKING STATEMENTS:
This news release contains "forward-looking statements" within the
meaning of the United States
Private Securities Litigation Reform Act of 1995 and applicable
Canadian securities legislation. Forward-looking statements
include, but are not limited to, statements with respect to plans
for developing any of its projects including its intention on the
use of the funds raised in the financing. Forward-looking
statements are subject to known and unknown risks, uncertainties
and other factors that may cause the actual results, level of
activity, performance or achievements of the Company to be
materially different from those expressed or implied by such
forward-looking statements, including but not limited to: risks
related to the exploration and potential development of the
Company's projects, risks related to international operations, the
actual results of current exploration and development activities,
conclusions of economic evaluations, changes in project parameters
as plans continue to be refined, future prices of copper and
molybdenum, as well as those factors discussed in the sections
relating to risk factors of our business filed in the Company's
required securities filings on SEDAR. Although the Company has
attempted to identify important factors that could cause actual
results to differ materially from those contained in
forward-looking statements, there may be other factors that cause
results to be materially different from those anticipated,
described, estimated, assessed or intended.
There can be no assurance that any
forward-looking statements will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not
place undue reliance on forward-looking statements. Lumina Copper
does not undertake to update any forward-looking statements that
are incorporated by reference herein, except in accordance with
applicable securities laws.
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.
SOURCE Lumina Copper Corp