Laurion Announces Closing of Additional Private Placement of Flow-Through Units
LAURION ANNOUNCES CLOSING OF
ADDITIONAL 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 3 1, 2021 ) – LAURION Mineral Exploration Inc. (TSX.V:
LME and OTCPINK: LMEFF) (“ LAURION” or the “Corporation”) is pleased to announce
that it has closed its previously -announced non -brokered private placement (the
“Private Placement”) consisting of flow-through units (the “ FT Units ”). Pursuant to the
fully-subscribed Private Placement, the Corporation issued 766,666 FT Units at a
subscription price of $0.75 per FT Unit, for aggregate gross proceeds to the Corporation
of approximately $575,000.
The Private Placement resulted from strong investor demand for the Corporation’s
previous private placement, which closed on December 8, 2021 on substantially similar
terms. Following the closing of the Private Placement, LAURION has raised an
aggregate of approximately $2,575,000 in gross proceeds from its two financings
completed in December 2021.
Each FT Unit consists of one common share of the Corporation 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, a “Warrant”). Each Warrant entitle s 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.
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 than 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.
Pursuant to the Private Placement, a certain director o f the Corporation subscribed for
133,333 FT Units for gross proceeds to the Corporation of $100,000, which is considered a
related party transaction within the meaning of Multilateral Instrument 61-101 –
Protection of Minority Security Holders in Special Transactions (“MI 61-101”). Full details
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of this transaction will be available on the System for Electronic Disclosure by Insiders
(SEDI) at: www.sedi.ca. The Private Placement is exempt from the formal valuation and
minority shareholder approval requirements of MI 61-101 as neither the fair market value
of the subject matter of the Private Placement, nor the consideration paid, exceed 25%
of the Corporation ’s market capitalization. No additional insiders or related parties of
the Corporation participated in the Private Placement . No new insiders or control
persons were created in connection with the closing of the Private Placement.
The Corporation did not pay any finders’ fees or issue any finder’s warrants in
connection with the Private Placement.
Pursuant to applicable Canadian securities laws, all securities issued pursuant to the
Private Placement are subject to a hold period of four months and one day, expiring on
May 1 , 202 2. The Private Placement remains subject to the final approval of the TSX
Venture Exchange (the “TSXV”).
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. The
Corporation currently has 247,086,849 outstanding shares, of which approximately 81%
of LAURION’s issued and outstanding shares 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, i ncluding with respect to LAURION 's business, operations
and condition, management's objectives, strategies, beliefs and intentions, the use of proceeds
from the Private Placement. The forward -looking statements involve risks and uncertainties.
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Actual event s and future results, performance or achievements expressed or implied by such
forward-looking statements could differ materially from those projected herein including as a
result of a change in the trading price of the common shares of LAURION, the TSXV not providing
its final approval for the Private Placement, the interpretation and actual results of current
exploration activities, changes in project parameters as plans continue to be refined, future
prices of gold and/or other metals, possible variation s in grade or recovery rates, failure of
equipment or processes to operate as anticipated, the failure of contracted parties to perform,
labor disputes and other risks of the mining industry, delays in obtaining governmental approvals
or financing or in th e completion of exploration, as well as those factors disclosed in the
Corporation’s publicly filed documents. 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 dis claims any obligation
to update these forward-looking statements.
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.