Laurion Announces Non-Brokered Private Placement of Units
LAURION ANNOUNCES NON-BROKERED
PRIVATE PLACEMENT OF 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 (March 1, 2021) – LAURION Mineral Exploration Inc. (TSX.V: LME and
OTCPINK: LMEFF) (“ LAURION” or the “Corporation”) today announced that it is
proposing to complete a flow-through and non flow -through private placement on a
non-brokered basis (the “ Private Placement”) for approximate aggregate gross
proceeds of up to $1.5 million. Under the flow-through portion of the Private Placement,
the Corporation intends to raise up to approx imately $1.2 million in gross proceeds by
issuing up to approximately 5,217,392 flow-through units (the “ FT Units”). Under the non
flow-through portion of the Private Placement, the Corporation intends to raise up to
approximately $300,000 in gross proceeds by issuing up to approximately 1,363,637 non
flow-through units (the “ Non-FT Units”). Pursuant to the Private Placement, the FT Units
will be issued at a price of $0.23 per FT Unit and the Non-FT Units will be issued at a price
of $0.22 per Non-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 Series A common share purchase warrant
(each, a “ Series A Warrant”). Each Non -FT Unit will consist of one non flow -through
common share of the Corporation and one Series B common share purchase warrant
(each, a “ Series B Warrant” and together with the Series A Warrants, the “ Warrants”).
Each Warrant will be exercisable for one non flow -through common share of the
Corporation for a period of 12 months from the date of issuance. Each Series A Warrant
will be exercisable for a price of $0. 25 per share, an d each Series B Warrant will be
exercisable for a price of $0.24 per share.
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. The
Corporation intends to use the net proceeds from the issue of Non -FT Units for
exploration activities and general working capital purposes.
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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 Series
A Warrants.
The closing of the Priv ate Placement is subject to the 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. The
Corporation currently has 203,419,101 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. The 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 with respect to LAURION’s business, operations
and condition, management's objectives, strategies, beliefs and i ntentions, the completion of
the Private Placement, the anticipated size 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 material ly from those projected herein including as a result of a chan ge in the
trading price of the Corporation’s c ommon shares and/or 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 record, for additional information on risks and uncertainties relating to these forward -
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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.