Laurion Announces Upsize of Previously Announced Private Placement of Flow-Through Units
LAURION ANNOUNCES UPSIZE OF PREVIOUSLY ANNOUNCED
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 (September 22 , 2022 ) – LAURION Mineral Exploration Inc. (TSX.V:
LME and OTCPINK: LMEFF) (“ LAURION” or the “Corporation”) is pleased to announce
that, due to strong investor demand, it has increased the maximum size of its previously-
announced non-brokered private placement (the “ Private Placement”) from $550,000
to approximately $ 2.05 million in aggregate gross proceeds, consisting of up to
approximately 1,952,381 flow-through units (the “FT Units”) at a price of $1.05 per FT Unit.
Each FT Unit will consist of one common share of the Corporation (a n “FT Share”) and
one-half of one common share purchase warrant (each whole common share
purchase warrant, a “ Warrant”). Each whole Warrant will entitle the holder thereof to
acquire one non flow-through common share of the Corporation at a price of $1.15 per
share for a period of 12 months from the date of issuance. The FT Shares and the
Warrants comprising the FT Units will qualify a s “flow-through share s”, as defined in
subsection 66(15) of the Income Tax Act (Canada) (the “Tax Act”).
The gross proceeds of the Private Placement 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 Dec ember 31, 2022 (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.
In connection with the Private Placement, the Corporati on may pay finders’ fees in the
form of cash commissions.
The closing of the Priv ate Placement, which is anticipated to occur on or about
September 27, 2022, remains 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.
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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. LAURION now
has 254,052,613 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 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 mining to a -685 m depth, in the past producing Sturgeon River Mine. The
Brenbar Property, which was acquired in 2020 and is contigu ous with the Ishkoday
Property, hosts the historic Brenbar Mine. 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, ma nagement's objectives, strategies, beliefs and intentions, the completion of
the Private Placement, the anticipated timing of closing of the Private Placement, the use of
proceeds therefrom and the finder’s fees that may be paid by the Corporation in conne ction
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 Corporation’s c ommon shares and/or the TSXV not providing
its approval for the upsized 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 -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.