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BRIEF-Lupaka Says Has Been Unable To Access Or Inspect Invicta Development Site

Published 2019-01-28, 06:40 a/m
BRIEF-Lupaka Says Has Been Unable To Access Or Inspect Invicta Development Site

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

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