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Lupaka Gold completes Crucero project's C$5.7M sale to GoldMining

Lupaka Gold Corp. said Nov. 21 that it completed the sale of its Crucero gold project in Peru to GoldMining Inc. for C$5.7 million in cash and shares.

The deal was announced in September, in accordance to which GoldMining paid C$750,000 and issued 3.5 million shares to Lupaka.

According to Lupaka, the proceeds from the sale will be used to partially satisfy the remaining conditions for the US$2.5 million third tranche of its prepaid forward fold purchase deal with PLI Huaura Holdings LP. The funds are also earmarked for general working capital.