Laurion Announces Additional Non-Brokered Private Placement of Flow-Through Units
LAURION ANNOUNCES ADDITIONAL NON-BROKERED
PRIVATE PLACEMENT OF FLOW-THROUGH UNITS
THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT
INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION
IN THE UNITED STATES.
TORONTO, ONTARIO ( December 2 4, 2021) – LAURION Mineral Exploration Inc. (TSX.V:
LME and OTCPINK: LMEFF) (“LAURION” or the “Corporation”) today announced that it is
proposing to complete a new flow-through private placement on a non -brokered basis
(the “ Private Placement ”) as a result of strong investor demand for the Corporation’s
previous private placement, which closed on December 8, 2021 on substantially similar
terms for aggregate gross pr oceeds of approximately $2 million . Pursuant to the Private
Placement, the Corporation intends to raise up to approximately $ 575,000 in aggregate
gross proceeds by issuing up to approximately 766,668 flow-through units (the “FT Units”)
at a price of $0.75 per FT Unit.
Each FT Unit will consist of one common share of the Corporation to be issued as a
“flow-through share” (as defined in subsection 66(15) of the Income Tax Act (Canada)
(the “ Tax Act ”)) (each, a “ FT Share ”) and one -half of one common share purchase
warrant (each whole common share purchase warrant , a “ Warrant”). Each whole
Warrant will entitle the holder thereof to acquire one non flow -through common share
of the Corporation at a price of $0.82 per share for a period of 12 months from the date
of issuance.
As at the date hereof, the Corporation has accepted subscription agreements for the
Private Placement in aggregate gross proceeds of approximately $225,000.
The gross proceeds allocable to the FT Shares comprising the FT Units will be used for
“Canadian exploration expenses” (within the meaning of the Tax Act), which will
qualify, once renounced, as “flow -through mining expenditures”, as defined in the Tax
Act, which will be renounced with an effective date of no later tha n December 31,
2021 (provided the subscriber deals at arm’s length with the Corporation at all relevant
times) to the initial purchasers of FT Units in an aggregate amount not less than the gross
proceeds raised from the issue of the FT Units which are allocable to the FT Shares.
In connection with the Private Placement, the Corporation may pay finders’ fees in the
form of cash commissions and finder’s warrants having the same attributes as the
Warrants.
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The closing of the Priv ate Placement is subject to t he approval of the TSX Venture
Exchange (the “ TSXV”). All securities that are issued pursuant to the Private Placement
will be subject to, among other things, a hold period of four months and one day in
accordance with applicable Canadian securities laws.
About LAURION Mineral Exploration Inc.
The Corporation is a junior mineral exploration and development company listed on the
TSXV under the symbol LME and on the OTCPINK under the symbol LMEFF. LAURION now
has 246,320,183 outstanding shares of which app roximately 81% are owned and
controlled by Insiders who are eligible investors under the “Friends and Family”
categories.
LAURION's emphasis is on the development of its f lagship project, the 100% owned mid-
stage 47 km 2 Ishkoday Project, and its gold -silver and gold -rich polymetallic
mineralization with a significant upside potential. Th e mineralization on Ishkoday is open
at depth beyond the current core -drilling limit of -200 m from surface, based on the
historical min ing to a -685 m depth, in the past producing Sturgeon River Mine. The
Brenbar Property, which was acquired in 2020 and is contigu ous with the Ishkoday
Property, hosts the historic Brenbar Mine. LAURION believes the mineralization to be a
direct extension of mineralization from the Ishkoday Property.
FOR FURTHER INFORMATION, CONTACT:
LAURION Mineral Exploration Inc.
Cynthia Le Sueur-Aquin – President and CEO
Tel: 1-705-788-9186
Fax: 1-705-805-9256
Website: http://www.LAURION .ca
Follow us on Twitter: @LAURION_LME
Caution Regarding Forward-Looking Information
This press release contains forward -looking statements, which reflect the Corporation’s current
expectations regarding future events, including with respect to LAURION’s business, operations
and condition, management's objectives, strategies, beliefs and i ntentions, the completion of
the Private Placement, the use of proceeds therefrom and the finder’s fees that may be paid by
the Corporation in connection with the Private Placement. The forward -looking statements
involve risks and uncertainties. Actual eve nts could differ materially from those projected herein
including as a result of a change in the trading pric e of the common shares of the Corporation,
the TSX V not providing its approval for the Private Placement. Investors should consult the
Corporation’s ongoing quarterly and annual filings, as well as any other additional
documentation comprising the Corporation’s public disclosure record, for additional information
on risks and uncertainties relating to these forward -looking statements. The reader is cautioned
not to rely on these forward -looking statements. Subject to applicable law, the Corporation
disclaims any obligation to update these forward-looking statements.
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NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS
DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE
ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.