Laurion Announces Proposed Non-Brokered Private Placement of Flow-Through Shares
LAURION ANNOUNCES PROPOSED NON-BROKERED
PRIVATE PLACEMENT OF FLOW-THROUGH SHARES
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 (October 27, 2023) – 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 private placement on a non-brokered basis (the
“Private Placement”). The Corporation intends to raise up to approximately $ 2.7 million
in gross proceeds by issuing up to approximately 4,821,429 flow-through shares (the “FT
Shares”) at a price of $0.56 per FT Share.
Each FT Share will be a common share of the Corporation issued as a “flow -through
share” (as defined in subsection 66(15) of the Income Tax Act (Canada) (the “ Tax
Act”)). The gross proceeds 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, 2023 (provided the subscriber deals at arm’s length
with the Corporation at all relevant times) to the initial purchasers of FT Shares in an
aggregate amount not less than the gross proceeds raised from the issue of the FT
Shares.
In line with LAURION’s considered , strategic approach to raising capital over the years,
the Corporation is pursuing the Private Placement in order to raise additional capital to
support the continued advancement of its flagship Ishkoday gold and polymetallic
project (the “ Ishkoday Project”). Having regard for the interests of its stakeholders, the
Corporation believes that it is incumbent upon it to welcome and benefit from these
types of capital raising opportunities when they arise, particularly in light of the fact that
these opportunities are not always available for many junior mining companies and all
of the proceeds from the Private Placement will be strictly used to advance the
Ishkoday Project. The decision to pursue this financing was made by the Corporation’s
Board of Directors with the aim of enhancing shareholder value and LAURION’s position
as a potential acquisition target by supporting the Corporation’s ongoing efforts to
expand and develop the Ishkoday Project while maintaining a significant amount of
cash on hand.
LAURION continues to be an aspiring trailblazer within the junior mining sector due to its
shareholder-centric approach, its proactive -exploration strategy, its ESG initiatives, its
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good First Nations relationships, and its relatively strong balance sheet a nd cash -flow
generation. LAURION’s shareholders can find comfort in the Corporation’s relatively
strong cash position and its money -management strengths. LAURION is continuing to
position and broadcast itself as a well -funded potential acquisition target t hat is
continuing its efforts to advance the Ishkoday Project. Many junior mining companies
do not adequately anticipate financial and capital market swings, thus often failing
their shareholders in terms of minimizing the cost of capital. LAURION attempts to
optimize high interest rate periods by investing its available cash until it is needed. This
investment and cash -management strategy is expected to generate approximately
$350,000 in additional cash for the Corporation in 2023. This expected $350,000 i n cash
from interest earned is expected to cover a significant portion of the Ishkoday Project
operational costs in 2023. Astute and sophisticated investors recognize that 'smart
money' institutional and prospective acquirors seek out prudent junior mining
companies not only due to their long-term mining project potential, but also those well-
managed companies that are non -distressed since they have reasonably sufficient
capital and cash resources and proven money-management strengths.
As at the date hereof , the Corporation has accepted subscription agreements for the
Private Placement in aggregate gross proceeds of approximately $2.5 million.
In connection with the Private Placement, the Corporation may pay finders’ fees in the
form of cash commissions and the issuance of common shares in the capital of the
Corporation.
The c losing of the Private Placement, as well as the payment of finders’ fees in
connection therewith, are subject to the final approval of the TSX Venture Exchange
(the “ TSXV”). The Corpor ation intends to close the Private Placement on or about
October 31, 2023, subject to receipt of all necessary regulatory approvals. All securities
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
TSX Venture Exchange under the symbol LME and on the OTC under the symbol LMEFF.
LAURION now has 258,091,594 outstanding shares of which approximately 80% are
owned and controlled by Insiders who are eligible investors under the “Friends and
Family” categories.
LAURION's emphasis is on the exploration and devel opment of its flagship pro ject, the
100% owned mid -stage 5 7 km 2 Ishkoday Project, and its gold -rich polymetallic
mineralization.
LAURION’s chief priority remains maximizing shareholder value while simultaneously
embracing and considering the principles and best practices of environmental, social,
and corporate governance (ESG) issues. A large portion of the Corporation’s focus in
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this regard falls within the ambit of its mineral exploration activities and more
specifically, advancing the Ishkoday Project.
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
Steven Hunter - Investor Relations Consultant
Email: [email protected]
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 intentions, the completion of
the Private Placement, the anticipated timing of closing and size of the Private Placement, the
use of proceeds from the Private Placement , the finder s’ fees that may be paid by the
Corporation in connection with the Private Placement , the Corporation’s ability to advance,
expand and/or develop the Ishkoday Project, and the Corporation’s ability to complete any
potential acquisitions, merger s, financings or other transactions referenced herein . 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 pric e of the common
shares of the Corporation and the TSXV not providing its final approval for the Private Placement
(including the payment of finders’ fees in connection therewith) . Investors should consult the
Corporation’s ongoing quarterly and annual filings, as well as an y 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 stateme nts. Subject to applicable law, the Corporation
disclaims any obligation to update these forward-looking statements.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SE RVICE 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.