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 (April 10, 2024) – 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 $ 1.7 million
in gross proceeds by issuing up to approximately 3,777,778 flow-through shares (the “ FT
Shares”) at a price of $0.45 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, 2024 (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.
As at the date hereof, the Corporation has accepted subscription agreements for the
Private Placement in aggregate gross proceeds of approximately $1.67 million.
In connection with the Private Placement, the Corporation may pay finders’ fees in the
form of cash commissions.
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 Corporation intends to close the Private Placement on or about April
12, 2024, 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.
Further to its news release s dated August 24, 2023 and November 14, 2023, LAURION is
also pleased to announce that its strategic partnership with US Capital Global Partners
LLC ("US Capital Global") is advancing smoothly, with the due diligence process on the
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Corporation and its activities nearing completion, su bsequent to the delivery of
LAURION’s National Instrument 43 -101-compliant technical report on the Ishkoday
Project, which was announced and filed under the Corporation’s profile on SEDAR+ on
February 15, 2024. This collaboration with US Capital Global was initiated with the
primary aim of exploring opportunities and potential transactions that may offer
strategic benefits to the Corporation and its stakeholders.
LAURION's aim in finalizing the Private Placement is to fortify the Corporation's treasury,
enabling the fulfillment of its exploration objectives over the next 18 to 24 months.
Moreover, it is expected to serve as a signal to US Capital Global and potential buyers
(see LAURION’s news release dated November 14, 2023) that the C orporation's
exploration and development strategy is robust and steadfast.
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 263,346,102 outstanding shares of which approximately 72% are
owned and c ontrolled by Insiders who are eligible investors under the “Friends and
Family” categories.
LAURION's emphasis is on the exploration and development of its flagship pro ject, the
100% owned mid- stage 5 7.43 km2 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
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
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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 size, timing and use of proceeds of the Private
Placement, the finders’ fees that may be paid by the Corporation in connection with the Private
Placement, any potential acquisitions, mergers, financings or other transactions directly or
indirectly referenced herein, and the Corporation’s ability to advance, expand and/ or develop
the Ishkoday Project . 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 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 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.