On April 30, 2026, Lumina Metals Corp. completed its upsized initial public offering and secondary offering of common shares of the company. It is the largest Canadian mining IPO since 2021.

The offering includes a treasury offering by the company for total gross proceeds of $312,470,000 and a secondary offering of common shares held by a selling securityholder of the Company for total gross proceeds of $93,742,500, each at a price of $12.50 per share, for total gross proceeds of $406,212,500.

The company granted to the Underwriters (as defined below) an over-allotment option to purchase up to an additional 4,874,550 common shares from treasury at a price of $12.50 per common share for additional gross proceeds of $60,931,875, if the over-allotment option is exercised in full. The over-allotment option is exercisable, in whole or in part, at any time for a period of 30 days from the closing date of the offering. If the over-allotment option is exercised in full, the gross proceeds of the offering will be up to $467,144,375.

The offering was managed by a syndicate of underwriters, including BMO Capital Markets, National Bank Financial Inc., Morgan Stanley Canada Limited, RBC Capital Markets and CIBC Capital Markets, as co-lead underwriters and joint bookrunners, and Trigon Dom Maklerski S.A., Canaccord Genuity Corp., Haywood Securities Inc., SCP Resource Finance LP and Stifel Canada.

BLG acted for Lumina Metals with a team comprised of Fred R. Pletcher, Graeme Martindale, Sal Pimentel and Ashley Wong.