Laurion Announces Closing of First Tranche of Non-Brokered Private Placement of Units
LAURION ANNOUNCES CLOSING OF FIRST TRANCHE OF
NON-BROKERED PRIVATE PLACEMENT OF UNITS
NOT FOR DISTRIBUTION TO UNITED STATES NEWS SERVICES OR DISSEMINATION.
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 - (May 10, 2019) – LAUR ION Mineral Exploration Inc. (TSX.V: LME
and OTCPINK: LMEFF) (“LAURION” or the “Corporation”) today announced that it has
closed the first tranche of its previously -announced non-brokered private placement
(the “ Private Placement ”), with the first tranche consisting of an aggregate of
10,000,000 units (the “Units”) at a subscription price of $0.10 per Unit for aggregate gross
proceeds to the Corporation of $1 million.
Each Unit consists of one common share of the Corporation (each, a “Common Share”)
and one Common Share purchase warrant (each, a “ Warrant”), with each Warrant
entitling the holder thereof to acquire one additional Common Share at a price of $0.14
per share for a period of 24 months from th e date of issuance. The Corporation intends
to use the net proceeds from the issue of Un its for exploration activities and general
working capital purposes.
In connection with the first tranche of the Private Placement, an arm’s-length finder
received $50,000 as a cash finder’s commis sion and an aggregate of 500,000 finder’s
warrants having the same attributes as the Warrants.
Pursuant to applicable Canadian securities laws, all securities issued pursuant to the first
tranche of the Private Placement are subject to a hold period of four months and one
day, expiring on September 10, 2019. The Private Placement remains subject to the TSX
Venture Exchange’s final approval.
About LAURION Mineral Exploration Inc.
The Corporation is a junior mineral exploration and development company listed on the
TSX-V under the symbol LME and on the OTCPINK under the symbol LMEFF. LAURION has
153,470,084 outstanding shares of which 52.1% are owned and controlled by Insiders
and within the “friends and family” category.
The Corporation’s emphasis is on the deve lopment of its flagship project, the 100%
owned mid-stage Ishkoday Gold Project, an d its gold-silver and gold-rich polymetallic
mineralization with a significant upside potential.
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Current exploration is focussed on the near term potential of major near surface mineral
resources in both gold and base metals based on the network of un-developed quartz
veins similar to those observed at other gold deposits in the immediate region and in
other greenstone belts.
Mr. Jean Lafleur, P. Geo. (APGO, OGQ), LAURION ’s Technical Advisor to the Board of
Directors, is a Qualified Person as defined by National Instrument 43-101 guidelines, and
has reviewed and approved the content of this news release.
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
Connect with LAURION on LinkedIn: http://ca.linkedin.com/pub/cynthia-le-sueur-
aquin/17/30/4b
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 in tentions, the use of net proceeds from the Private
Placement and the completion and timing of any additional tranches of the Private Placement. The
forward-looking statements involve risks and uncertainties. Actual events could differ materially from those
projected herein including as a result of a change in the trading price of the Common Shares, the TSX-V
not providing its final 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.
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.