Laurion Announces Proposed Private Placement
17 Junio 2011 - 8:00AM
Marketwired
Laurion Mineral Exploration Inc. (TSX VENTURE: LME)(OTCQX: LMEFF)
("Laurion" or the "Corporation") is pleased to announce a proposed
non-brokered private placement (the "Offering") of up to 7,500,000
flow-through units (each a "Unit") at a price of $0.10 per Unit for
aggregate gross proceeds of up to $750,000.
Each Unit shall consist of: (i) one common share of Laurion
(each a " FT Share"), which will qualify as a flow-through share
pursuant to the Income Tax Act (Canada); and (ii) one common share
purchase warrant (each a "Warrant"). Each whole Warrant shall
entitle the holder thereof to purchase, for a period of 24 months
(the "Term") from the closing of the Offering (the "Closing"), one
common share of Laurion issued on a non-flow through basis (each a
"Common Share") upon payment of $0.16 in the first year of the Term
or $0.18 in the second year thereof. The Closing is expected to
take place on or about June 30, 2011.
The Corporation shall pay a cash commission equal to 6% of the
gross proceeds of the Offering and shall issue that number of
options (each a "Finder's Option") as is equal to 10% of the
aggregate number of Units sold pursuant to the Offering. Each
Finder's Option shall entitle the finder to purchase one Unit
(issued on a non flow-through basis) at an exercise price of $0.10
per Unit (with each Unit in turn consisting of a Common Share and a
Warrant exercisable on the same terms as the Warrants described
above) for a period of 24 months from the Closing.
The FT Shares, Common Shares and Warrants shall be subject to
resale restrictions for a period of four months and one day from
the date of issuance, and the Offering remains subject to the
approval of the TSX Venture Exchange.
Laurion intends to use the proceeds of the Offering to finance
the drilling, exploration and development of its Sturgeon River
property.
About Laurion Minerals Exploration Inc.
The Corporation's focus is to make the transition from explorer
to producer and envisages the realization of shareholder value and
wealth through monetization of its discoveries and assets.
Laurion's exploration horizons are focused primarily on gold with a
secondary interest in base metals and PGEs with key interests in
prospective mining properties located in Ontario, Canada and
Nevada, USA.
This news release includes certain forward-looking statements
concerning the future performance of Laurion's business, operations
and financial performance and condition, as well as management's
objectives, strategies, beliefs and intentions. Such statements
include, but are not limited to, statements concerning the approval
of Laurion's application to trade its common shares over the
facilities of the OTCQX and the commencement of such trading.
Forward-looking statements are frequently identified by such words
as "may", "will", "plan", "expect", "anticipate", "estimate",
"intend" and similar words referring to future events and results.
Forward-looking statements are based on the current opinions and
expectations of management. All forward-looking information is
inherently uncertain and subject to a variety of assumptions, risks
and uncertainties, including the speculative nature of mineral
exploration and development, fluctuating commodity prices,
competitive risks and the availability of financing, as described
in more detail in our recent securities filings available at
www.sedar.com. Actual events or results may differ materially from
those projected in the forward-looking statements and Laurion
cautions against placing undue reliance thereon. Laurion and its
management assume no obligation to revise or update these forward
looking statements.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Laurion Mineral Exploration Inc. Cynthia Le
Sueur-Aquin President 1-888-212-4070 or 1-705-788-9186
1-705-788-9187 (FAX) Laurion Mineral Exploration Inc. Karen Doxsee
Vice President, Corporate Communications 1-888-212-4070 or
1-705-788-9186 1-705-788-9187 (FAX) www.laurion.ca
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