Laurion Announces New Non-Brokered Private Placement of Flow-Through Units
LAURION ANNOUNCES NEW 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 18 , 2020 ) – 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 ”). The Corporation intends to raise up to approx imately
$550,000 in gross proceeds by issuing up to approximately 2,200,000 flow-through units
(the “Units”) at a price of $0.25 per Unit.
Each 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 common share purchase warrant (each, a
“Warrant”). Each Warrant will entitle the holder thereof to acquire one non flow -through
common share of the Corporation at a price of $0. 26 per share for a period of 24
months from the date of issuance.
As at the dat e hereof, the Corporation has accepted subscription agreements for the
Private Placement in aggregate gross proceeds of $500,000.
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,
2020 (provided the subscriber deals at arm’s len gth 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.
In connection with the Private Placement, t he Corporation may pay finders’ fees in the
form of cash commissions and finder’s warrants having the same attributes as the
Warrants.
The closing of the Priv ate Placement is subject to the approval of the TSX Venture
Exchange (the “ TSXV”). The Corporation intends to close the Private Placement on or
about December 30, 2020 , subject to receipt of all necessary regulatory approvals. All
securities that are issued pursuant to the Private Placement will be subject to, among
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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. The
Corporation currently has 200,412,319 outstanding shares, of which approximately 72%
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
recently acquired Brenbar Property, which is contigu ous with the Ishkoday Property,
hosts the historic Brenbar Mine and 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 wi th respect to LAURION’s business, operations
and condition, management's objectives, strategies, beliefs and intentions, the timing,
anticipated size and 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 events could differ
materially from those projected herein including as a result of a change in the trading price of
the Common Shares, the TSXV 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 re cord, 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.