Pursuant to the Placement, Sandstorm was also granted the right (for so long as Sandstorm owns greater than 15% of Luna) to maintain its ownership percentage through future private placements or public offerings by Luna. Sandstorm was also granted the right to appoint one member to Luna's Board of Directors (the "Board") and, accordingly, has appointed
The Placement Shares purchased by Sandstorm are subject to a four month plus one day hold period. The proceeds from the Placement will be used by Luna for expenditures related to the Aurizona mine, ongoing brownfields and greenfields exploration at and around the Aurizona mine, and for general working capital purposes.
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OCTOBER 30, 2014
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