Laurion Completes $820,000 Private Placement
21 Julio 2011 - 9:30AM
Marketwired
Laurion Mineral Exploration Inc. (TSX VENTURE: LME)(OTCQX: LMEFF)
("Laurion" or the "Corporation") has closed the private placement
(the "Offering") of the issuance of 8,200,000 flow-through units
(each a "Unit") at a price of $0.10 per Unit for aggregate gross
proceeds of $820,000, as previously announced on June 17, 2011 (the
"Initial Announcement"). The terms set forth in the Initial
Announcement were subsequently revised, as announced on June 23,
2011. The Offering is subject to the final approval of the TSX
Venture Exchange.
Each Unit consists of: (i) one common share of Laurion, which
qualifies 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 entitles the holders 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.
Finder's fees totalling an aggregate of $66,850 cash and 799,000
options (the "Finder's Options") were paid in connection with the
Offering. While 750,000 of the issued Finder's Options each entitle
the holder 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 remaining issued Finder's Options each
entitle the holders to purchase one Common Share at an exercise
price of $0.10 per Common Share for a period of 24 months from the
Closing.
The proceeds of the Offering will be used to fund the Company's
exploration activities on the Sturgeon River property near
Beardmore, Ontario.
About Laurion Minerals Exploration Inc.
The Corporation's focus is to make the transition from explorer
to near-term 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, with key interests
in prospective mining properties located in Ontario and Nevada.
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 Minerals 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
Laurion Minerals Explora... (PK) (USOTC:LMEFF)
Gráfica de Acción Histórica
De May 2024 a Jun 2024
Laurion Minerals Explora... (PK) (USOTC:LMEFF)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024