Laurion Announces Closing of First Tranche of Non-Brokered Private Placement of Flow-Through Units
Page | 1
LAURION ANNOUNCES CLOSING OF FIRST TRANCHE OF
NON-BROKERED PRIVATE PLACEMENT OF
FLOW-THROUGH UNITS
THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTI ON IN CANADA ONLY AND IS NOT INTENDED FOR
DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.
TORONTO, ONTARIO - (August 13, 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 2,916,666
units (the “Units”) at a subscription price of $0.12 per Unit for aggregate gross proceeds
to the Corporation of $350,000.
Each Unit consists 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 common share purchase warrant (each, a
“Warrant”). Each Warrant entitles the holder th ereof to acquire one non flow-through
common share of the Corporation at a price of $0.15 per share for a period of 24
months from the date of issuance.
The gross proceeds allocable to the FT Shares comprising the 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,
2019 (provided the subscriber deals at arm’s length with the Corporation at all relevant
times) to the initial purchasers of Units in an aggregate amount not less than the gross
proceeds raised from the issue of the Units which are allocable to the FT Shares.
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 December 13, 2019. The Private Placement remains subject to the TSX
Venture Exchange’s final approval.
About Laurion
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
now has 158,656,425 outstanding shares of which 60.8 % are owned and controlled by
Insiders who are eligible investors under the “Friends and Family” categories.
Page | 2
LAURION’s emphasis is on the development of its flagship project, the 100% owned mid-
stage 44 km 2 Ishkoday Project, and its gold-silver and gold-rich polymetallic
mineralization with a significant upside potential. The Ishkoday Project has a project-
wide database (2008 to 2018) that includes 283 diamond drill holes totaling 40,729 m,
geological mapping, ground geophysics, an d 14,992 individual samples with assays
and geochemical analysis. The mineralization on the Ishkoday is open at depth beyond
the current core-drilling limit of -200 m from surface, based on the historical mining to a -
685 m depth, as evidenced in the past producing Sturgeon River Mine.
FOR FURTHER INFORMATION, CONTACT:
Laurion Mineral Exploration Inc.
Cynthia Le Sueur-Aquin - President
Tel: 1-705-788-9186
Fax: 1-705-805-9256
Website: http://www.laurion.ca
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, and the use of 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 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 TSX Venture Exchange 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 variations 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
the 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 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.