Leucrotta Exploration Inc. closes bought deal financing for gross proceeds of C$33 million

On March 31, 2021, Leucrotta Exploration Inc. (the "Company") closed its previously announced bought-deal financing (the "Bought-Deal Financing") of 41,096,000 units of the Company (the "Units") at a price of C$0.73 per Unit (the "Issue Price") for gross proceeds to the Company of C$30,000,080.

In addition, the syndicate of underwriters, co-led by Haywood Securities Inc., as sole bookrunner, and Echelon Wealth Partners Inc. and including Acumen Capital Finance Partners Limited, Desjardins Securities Inc., ATB Capital Markets Inc., Raymond James Ltd., Stifel Nicolaus Canada Inc. and Beacon Securities Limited (collectively, the "Underwriters") exercised in full the Underwriters' over-allotment option to purchase an additional 4,109,600 Units at the Issue Price for additional gross proceeds of C$3,000,008, resulting in the issuance of an aggregate of 45,205,600 Units for total gross proceeds of C$33,000,088.

Each Unit consists of one common share in the capital of the Company (a "Common Share") and one-half of one Common Share purchase warrant (each whole Common Share purchase warrant, a "Warrant") of the Company. Each Warrant entitles the holder thereof to acquire one Common Share at a price of C$1.00 (subject to adjustment in certain events) for a period of 24 months from the closing date of the Bought-Deal Financing.

The Underwriters were advised by Fasken by Sarah Gingrich, Mark Kopitar, Bill deJong, Aman Marwaha and Sarah Horsfall (Capital Markets and Securities).