Luna Gold (LGC.v) and the unwritten rule of Friday night news releases

Rule: When a company waits until after the bell Friday to release news, it's rarely good.

September 22nd Luna Gold (LGC.v) NR excerpt:

"...the Company is conducting a private placement offering of up to 38,461,539 units to investors in South America (the "South American Placement") through Celfin Capital S.A. SAB ("Celfin") as lead Agent of the South American Placement for gross proceeds of up to $20,000,000."

September 30th Luna Gold (LGC.v) NR excerpt (released 5pm EST, after the bell):

"Under the terms of the South American Placement, 23,749,338 Units were sold at a price of $0.52 for gross proceeds of approximately $12.35 million."

Nuff said