LAURION Announces Performance Grants and Warrant and Stock Option Exercises
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LAURION Announces Performance Grants and
Warrant and Stock Option Exercises
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 14, 2020) – Laurion Mineral Exploration Inc. (TSX.V:
LME and OTCPINK: LMEFF) (“LAURION” or the “Corporation ”) announces that it has
today granted an aggregate of 1,25 0,000 incentive stock options ( “Options”) to a
number of its officers and directors . The Options are exercisable for a period of five
years at a price of $0.23 per share and will vest over a period of two years.
Specifically, the aforementioned Options were allocated in the following manner:
Name of
Optionee
Position with the
Corporation
No. of
Options
Vesting
Cynthia Le Sueur-Aquin
President, Chief
Executive Officer and
Chair
250,000
33.33% on the date
of grant; 33.33% on
the first anniversary
of the date of
grant; and 33.34%
on the second
anniversary of the
date of grant.
Miles Nagamatsu Chief Financial Officer 250,000
Michael Burmi Director 250,000
John Covello Director 250,000
Nick Ierfino Director 250,000
Furthermore, LAURION has granted to each of John Covello and Nick Ierfino
additional Options to acquire 76,837 common shares of the Corporation, exercisable
on or before December 14, 2025 at an exercise price of $0. 23 per share, subject to
vesting requirements. These additional O ptions are part of a discretionary
performance bonus awarded to Mr. Covello and Mr. Ierfino in recognition of their
significant contributions to the Corporation’s capital raising initiatives.
The issuance of Options, as contemplated in this news release, is subject to the terms
of the Corporation’s stock option plan and TSX Venture Exchange (“TSXV”) approval.
The Corporation also wishes to announce that since September 2020, it has received
requests from certain of its security holders to exercise finder’s warrants and stock
options for aggregate proceeds of approximately $91,650. The Corporation intends
to use the proceeds from these security exercises for exploration activities and general
working capital purposes.
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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 199,723,430 outstanding shares, of which approximately
71% 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, a nd 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 mining 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
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 intentions, the issuance of Options and the
use of proceeds from the above -mentioned exercise s of securities . 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 the interpretation and actual results of current exploration activities, the TSXV not
providing its approval for the granting of Options , 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 financin g
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 comprisi ng 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.