Trafigura Pte. Ltd., through its subsidiary Urion Holdings (Malta) Limited, transfers portion of convertible debenture of Luca Mining Corp.

CALGARY, AB, Jan. 14, 2025 /CNW/ - Trafigura Pte. Ltd. ("Trafigura") announces today that its subsidiary Urion Holdings (Malta) Limited ("Urion"), with the consent and approval of Luca Mining Corp. ("Luca"),has transferred and assigned all of its right, title and interest in and to a USD$3,300,000.00 portion (the "Assigned Amount") of a secured convertible debenture of Luca in an aggregate principal amount of USD$5,800,000 (the "Debenture") originally acquired by Urion on August 22, 2024.

The Debenture is convertible into common shares in the capital of Luca (the "Common Shares") at a conversion price of CDN$0.35 per Common Share.

Trafigura currently owns an aggregate of 1,825,000 Common Shares, representing approximately 0.92% of the currently issued and outstanding Common Shares of Luca (based on 199,161,226 issued and outstanding Common Shares of Luca on January 3, 2025), indirectly through its subsidiary Urion. Prior to the transfer of the Assigned Amount, Trafigura, indirectly through Urion, owned and exercised control over (or had the right to own and exercise control over) 10% of the Common Shares.

As a result of the transfer of the Assigned Amount, Trafigura, indirectly through its subsidiary Urion, has transferred and assigned its right to own approximately 13,616,743   Common Shares of Luca, representing approximately 6.4% of the issued and outstanding Common Shares (after giving effect to the conversion of the Assigned Amount of the Debenture), based on 199,161,226 issued and outstanding Common Shares of Luca on January 3, 2025.  Trafigura will retain the right to own approximately 10,315,714 Common Shares, representing approximately 4.9% of the issued and outstanding Common Shares (after giving effect to the conversion of the remaining portion of the Debenture after excluding the Assigned Amount), based on 199,161,226 issued and outstanding Common Shares of Luca on January 3, 2025.  Together with the 1,825,000 Common Shares currently owned by Urion, Trafigura will own approximately 12,140,714 Common Shares, representing approximately 5.8% of the issued and outstanding Common Shares (after giving effect to the conversion of the remaining portion of the Debenture after excluding the Assigned Amount), based on 199,161,226 issued and outstanding Common Shares of Luca on January 3, 2025.

The head office address of Luca is Suite 410-1111 Melville St., Vancouver, British Columbia, V6E 3V6, Canada. The head office of Trafigura is 10 Collyer Quay, #29-01/05 Ocean Financial Centre 049315 Singapore.

This news release is issued pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which also requires a report to be filed containing information with respect to the foregoing matters (the "Early Warning Report"). A copy of the Early Warning Report may be obtained by contacting Trafigura at as set out below.

Trafigura, through Urion, has disposed of a portion of the Debenture, and the Common Shares into which that portion of the Debenture are convertible, as part of its investment strategy.  Depending on market conditions, general economic and industry conditions, trading prices of Luca's securities, Luca's business, financial condition and prospects and/or other relevant factors, Trafigura may, from time to time, develop plans or intentions in the future to acquire additional Common Shares or other securities of Luca or dispose of some or all of the Common Shares or other securities of Luca that it owns at such time. Trafigura currently has no other plans or intentions that relate to or would result in any of the following: the acquisition of additional securities of Luca, or the disposition of securities of Luca; a corporate transaction, such as a merger, reorganization or liquidation, involving Luca or any of its subsidiaries; a sale or transfer of a material amount of the assets of Luca or any of its subsidiaries; a change in the board of directors or management of Luca, including any plans or intentions to change the number or term of directors; a material change in the present capitalization or dividend policy of Luca; a material change in Luca's business or corporate structure; a change in Luca's charter, bylaws or similar instruments or another action which might impede the acquisition of control of Luca by any person or company; a class of securities of Luca being delisted from, or ceasing to be authorized to be quoted on, a marketplace; Luca ceasing to be a reporting issuer in any jurisdiction of Canada; or soliciting proxies from any securityholders of Luca.

About Trafigura

Trafigura operates as a petroleum wholesaler, with a focus on trading oil and petroleum products such as crude, gasoline, fuel oil, natural gas, and biodiesel.

Forward-Looking Statements 

Certain statements in this news release, referred to herein as "forward-looking statements", constitute "forward-looking information" under the provisions of Canadian provincial securities laws. These statements can be identified by the use of words such as "expected", "will" or similar terms. Forward-looking statements in this news release include statements relating to Trafigura's future plans regarding Luca.

SOURCE Trafigura Pte. Ltd.

For further information or to obtain a copy of the Early Warning Report, please contact Martin Dutto, Structured Finance Manager of Trafigura at [email protected].