Brief: Lupaka Says Has Been Unable To Access Or Inspect Invicta Development Site

Lupaka Gold

28/01/2019 11:40

Jan 28 (Reuters) - Lupaka Gold Corp  LPK.V :
    * LUPAKA PROVIDES UPDATE ON ILLEGAL DEMONSTRATION AT
INVICTA,
ANNOUNCES NON-BROKERED PRIVATE PLACEMENT, AND MANAGEMENT CHANGES
    * LUPAKA GOLD CORP - HAS BEEN UNABLE TO ACCESS OR INSPECT
INVICTA
DEVELOPMENT SITE
    * LUPAKA GOLD -  ACCORDING TO TERMS OF PLI FINANCING
AGREEMENT AND
BRIDGE LOAN 2 AGREEMENT, FACILITIES ARE TECHNICALLY IN DEFAULT
AS OF JANUARY 2019
    * LUPAKA GOLD -  DEMONSTRATIONS HAVE CAUSED CO TO DELAY
SCHEDULED
PAYMENTS ON PLI FINANCING FACILITY OUTSTANDING BRIDGE LOANS AND
TO CERTAIN VENDORS
    * LUPAKA GOLD CORP - HAS DOWNSIZED WORKFORCE IN PERU AS
RESULT OF
ILLEGAL BLOCKADE BY COMMUNITY MEMBERS FROM NEARBY COMMUNITY OF
PARAN
    * LUPAKA GOLD, ON INVICTA DEMONSTRATION, SAYS NON-ESSENTIAL
EMPLOYEES HAVE BEEN PLACED ON LEAVE WITHOUT PAY, DUE TO FORCE
MAJEURE OR HAVE BEEN LAID-OFF
    * LUPAKA GOLD CORP - WORKING WITH ITS LENDERS AND VENDORS ON
IMPLEMENTING RESTRUCTURED PAYMENT PLANS AND SECURING NECESSARY
WAIVERS

Source text for Eikon:  ID:nGNXjwn6H 
Further company coverage:  LPK.V 

 ((Reuters.Briefs@thomsonreuters.com;))