Laurion Announces Upsize of Previously Announced Private Placement of Flow-Through Shares
LAURION ANNOUNCES UPSIZE OF PREVIOUSLY ANNOUNCED
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 (November 2, 2023) – 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 ”) to approximately $2.88
million, consisting of up to approximately 5,142,900 flow-through shares (the “FT Shares”)
at a price of $0.56 per FT Share.
Each FT Share will be a comm on 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 wi ll 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 connection with the Private Placement, the Corporation may pay finders’ fees in the
form of cash commiss ions and the issuance of common shares in the capital of the
Corporation.
The closing of the Priv ate Placement, which is anticipated to occur on or about
November 3, 2023, 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.
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.
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LAURION's emphasis is on the exploration and development 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 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 and the finders’ fees that may be paid by the Corporation
in connection with the Private Placement. 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 TSX V not providing its approval for the upsized 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 Corporati on’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.