VANCOUVER, BRITISH COLUMBIA--(Marketwire -05/29/12)- Lumina Copper Corp. (LCC.V) (the "Company" or "Lumina") hereby announces that it has received a loan of up to Cdn.$10 million from Lumina Capital Limited Partnership ("LCLP"). The loan accrues interest at a rate of 10% per annum and will be used for working capital and general corporate purposes.
The loan is repayable on the earlier of: (i) six months from the date of initial advance; (ii) the date of any change of control of Lumina; or (iii) the occurrence of an event of default under the Credit Agreement between Lumina and LCLP.
The loan cannot be converted into, exchanged for or otherwise modified to create any obligation to Lumina to issue, directly or indirectly, any equity or voting securities of Lumina or any subsidiary of Lumina, including with respect to repayment of either principal or interest accruing in respect of the loan. As the loan is not convertible into equity or voting securities of Lumina, there will be no effect on the percentage of securities of Lumina held by LCLP as a result of the loan.
Lumina continues to yada yada continues here
ps: or maybe Ross is scared crapless about Cristina too